India’s Unified Payments Interface (UPI) processed about 172 billion transactions worth Rs 223 lakh crore in 2024, a 46 percent year-on-year jump in volume, according to data from the National Payments Corporation of India (NPCI). UPI now accounts for roughly 83 percent of all retail digital payments in the country and about 49 percent of global real-time payment volume per the ACI Worldwide “Prime Time for Real-Time” report.
That dominance has reshaped what Indian merchants need from a payment gateway. UPI support is mandatory, card and net banking fall in behind it, and any cross-border-facing business needs gateway-level support for international cards and foreign currency collections. This guide reviews six leading Indian payment gateways for 2026, including a global crypto option for businesses with international or crypto-native clients.
Key Takeaways
- India’s UPI processed about 172 billion transactions worth Rs 223 lakh crore in 2024, up roughly 46 percent year-on-year per NPCI data.
- UPI now represents about 83 percent of total digital payments in India and around 49 percent of global real-time payment volume.
- Razorpay leads for startups and developers, with high transaction success rates and smart routing across banks.
- Cashfree offers the lowest standard pricing at 1.75 percent on cards and wallets, plus free UPI and strong payout APIs.
- CCAvenue stays unique with 200-plus payment options and checkout in 27 Indian languages.
- Local gateways do not support crypto as a payment method. Upay enables crypto spending via Visa at 55 million-plus merchants globally without converting to INR.
The Top Payment Gateways in India for 2026
The Indian gateway market splits broadly into developer-first platforms (Razorpay, Cashfree), enterprise platforms (PayU, CCAvenue), and consumer-recognized payment brands (PayTM). Each option below maps to a specific business profile.
| Gateway | Best For | Transaction Fees | Crypto Support | Rating |
|---|---|---|---|---|
| Razorpay | Startups and developers | 2% on cards, UPI, and wallets | No | 4.8/5 |
| PayU India | Mid-market and enterprise | 2% plus custom tiers | No | 4.5/5 |
| CCAvenue | High-volume merchants | 1.99% to 3.5% | No | 4.3/5 |
| Cashfree | Payouts and e-commerce | 1.75% standard | No | 4.6/5 |
| PayTM Business | Offline plus online payments | 1.8% to 2% | No | 4.4/5 |
| Upay | Global crypto payments | Low network fees | Yes (BTC, ETH, USDT, USDC) | 4.8/5 |
Razorpay
Source: Razorpay
Razorpay is India’s most developer-friendly payment gateway and a default choice for tech startups. It supports all major Indian payment methods including UPI, net banking, 100-plus bank EMI options, wallets, and international cards. Onboarding is fully online and typically completes within a day.
The dashboard offers real-time analytics, automated reconciliation, and a smart routing feature that selects the best bank for each transaction to lift payment success rates. The platform also provides a business current account, payroll tool, and subscription billing. Razorpay’s domestic transaction success rates consistently exceed 95 percent, and for INR-focused businesses it is hard to beat on features and reliability.
- Setup fee: Free
- Monthly fee: None (pay per transaction)
- Supported currencies: INR, plus international cards via Razorpay International
- Key feature: Smart routing, high success rates, and a full-stack payments suite
PayU India
Source: PayU
PayU India, part of Prosus Group, serves over 450,000 merchants and processes billions of transactions annually. It offers a reliable payment page, a checkout SDK, and a suite of credit and buy-now-pay-later products through its LazyPay brand.
PayU supports all standard Indian payment methods and provides advanced fraud detection tools. The platform’s enterprise tier includes a dedicated account manager and custom pricing for high-volume merchants. Its dynamic checkout remembers repeat customers’ payment preferences to speed up future purchases. PayU is a reliable choice for mid-market and large Indian businesses that want payment acceptance and credit products in one stack.
- Setup fee: Free
- Monthly fee: None on the standard plan
- Supported currencies: INR, plus select international currencies
- Key feature: LazyPay BNPL integration and enterprise-grade fraud tools
CCAvenue
Source: CCAvenue
CCAvenue, operated by Infibeam Avenues, is one of India’s oldest payment gateways and supports more than 200 payment options, six international currencies, and 27 Indian languages on its checkout page. That multilingual support is rare and useful for businesses selling across India’s regional markets.
The platform offers a no-code payment page builder and integrations with major Indian e-commerce systems. It has a strong track record in regulated industries such as education, insurance, and government payments. Fees tier by monthly volume, so high-volume merchants get progressively better rates. The setup process is more documentation-heavy than newer competitors, which reflects its enterprise heritage.
- Setup fee: Rs 2,000 (refundable)
- Monthly fee: None for standard; custom for enterprise
- Supported currencies: INR plus six international currencies
- Key feature: 200-plus payment options and checkout in 27 Indian languages
Cashfree Payments
Source: Cashfree Payments
Cashfree Payments is known for two things: competitive pricing and a strong payout infrastructure. While most gateways focus on accepting payments, Cashfree has built an equally capable outbound system for vendor payouts, salary disbursements, and marketplace seller settlements.
Its standard fee of 1.75 percent is among the lowest in India for card and wallet transactions, and UPI payments are free. The platform’s instant refund feature, which credits refunds in real time rather than after five to seven days, is a meaningful customer experience advantage. Cashfree supports international payments through its Global Collections product, making it suitable for Indian businesses with overseas revenue.
- Setup fee: Free
- Monthly fee: None
- Supported currencies: INR, plus USD, GBP, and EUR via Global Collections
- Key feature: Low fees, instant refunds, and strong payout APIs
PayTM Business
Source: PayTM Business
PayTM is India’s largest payments brand by consumer recognition and operates a payment gateway aimed at both online and offline merchants. The PayTM QR code is ubiquitous in Indian retail, and businesses that integrate the gateway get access to PayTM’s 300 million-plus registered users.
The platform supports UPI, wallets, cards, and net banking. PayTM’s offline POS terminals and soundbox devices are widely used in small retail. The gateway itself is competitive, but the company’s regulatory history, including the 2024 Reserve Bank of India action on PayTM Payments Bank, adds some operational risk for businesses that depend on it as a primary settlement account.
- Setup fee: Free
- Monthly fee: None to low
- Supported currencies: INR
- Key feature: 300 million-plus PayTM user base with QR and POS integration
Upay
Source: Upay
Upay is a crypto card and wallet platform that lets Indian users hold BTC, ETH, USDT, USDC, and other major cryptocurrencies and spend them at any of the 55 million-plus Visa merchants worldwide. Domestic Indian gateways do not process crypto as a payment method, and Indian banks often restrict crypto-related transactions, which makes Upay an alternative route.
For Indian founders, remote workers earning in crypto, or businesses with international crypto clients, Upay bridges crypto holdings and real-world spending without forcing conversion to INR. The card supports ATM withdrawals and integrates with Apple Pay and Google Pay. Download the app on iOS or Android at upay.best.
- Setup fee: Free
- Monthly fee: None
- Supported currencies: BTC, ETH, USDT, USDC, plus other major crypto
- Key feature: Spend crypto at 55 million-plus Visa merchants without converting to INR
How to Choose the Right Payment Gateway for Your Business in India
The right gateway for an Indian business depends on whether you sell domestically, internationally, or both. For pure INR businesses with strong technical teams, Razorpay delivers the best developer experience and feature set. For price-sensitive businesses with high transaction volumes, Cashfree’s lower fees pay off quickly. If you sell across India’s linguistic regions, CCAvenue’s 27-language checkout is a real advantage that no competitor offers.
Businesses that need outbound payments (vendor payouts, salaries, marketplace settlements) alongside inbound acceptance should look at Cashfree or Razorpay’s payout features. Before signing up, always confirm the settlement cycle, chargeback handling policy, and whether the gateway supports your specific payment mix. International-facing businesses should check that the gateway covers the foreign currencies their customers actually pay in, and at what FX markup.
Why Upay is a Strong Choice in India for 2026
India’s crypto regulations have shifted considerably over recent years. Crypto is legal to own and trade, but domestic payment gateways generally do not support crypto as a direct payment method, and Indian banks often restrict crypto-related transactions. That leaves a gap for anyone who earns or holds crypto and wants to spend it.
Upay is built for that gap. As a crypto card and wallet platform, it lets users hold BTC, ETH, USDT, USDC, and other major cryptocurrencies and spend them at any of the 55 million-plus Visa merchants worldwide, including international stores accessible to Indian shoppers. There is no need to manually convert crypto to INR before spending, which removes both delay and the tax-event friction that comes with each conversion. The card supports ATM withdrawals and works with Apple Pay and Google Pay. Download the app on iOS or Android at upay.best.
Conclusion
India’s payment gateway market offers strong local options for INR transactions and a growing set of cross-border capabilities. Razorpay leads for developers and startups, Cashfree wins on price and payout features, CCAvenue covers the broadest set of payment options and languages, and PayU and PayTM remain credible choices for enterprise and consumer-brand scenarios. For crypto payments and global spending, Upay provides a Visa-powered route that works anywhere. Start at upay.best.
Frequently Asked Questions (FAQs)
Which payment gateway is best for Indian startups?
Razorpay is the most common choice. It offers free onboarding, a strong API, smart payment routing, and a full financial suite that scales with business growth.
Do Indian payment gateways support international payments?
Yes. Razorpay, PayU, CCAvenue, and Cashfree all support international cards. Cashfree’s Global Collections product is specifically designed for Indian businesses earning in foreign currencies.
Is crypto accepted as payment in India?
Local gateways do not support crypto. Upay enables Indian businesses and users to spend or receive crypto globally via the Visa network without converting to INR.
What is the typical transaction fee for Indian payment gateways?
Most charge 1.75 percent to 2 percent for domestic card and UPI transactions. International card fees are typically 3 percent to 3.5 percent. UPI transactions are often free or near-zero cost.
How fast do Indian payment gateways settle funds?
Standard settlement is T+1 or T+2 working days. Cashfree offers instant settlement for an additional fee, and Razorpay provides a same-day option for eligible merchants.
Can I use Upay alongside an Indian gateway?
Yes. Most Indian businesses run a domestic gateway such as Razorpay for INR sales and add Upay for crypto income, international payments, or personal spending. The two work in parallel.
