Payment Gateway Cost In India
For instance, they charge somewhere between 1.25% and 1.50% for debit card transactions. Setup Fee- A one time amount you pay to start receiving the services of the payment gateway.b. Although this is a pretty comprehensive take on the availability of payment gateway options in India, if you are looking to get one installed make sure you choose one that complements your requirements best. If you’re off to setting up an e-commerce business or any website that facilitates payment transactions via the internet, then you need to read this piece. Instamojo A lot of websites that deal mainly in selling services opt for this payment gateway. Zaakpay charges an AMC of Rs 2400 from second year onwards. Not only do they offer a horde of payment options like debit cards, net banking, credit cards, ATM cards, Bank IMPS, Bank EMIs and prepaid instruments, they also keep introducing new changes regularly. 250 per month. When a customer who has a Visa card purchases a book from your website, they enter their credit card details to make the purchase. If you, however, aren’t deterred by the cost associated with this payment gateway, they do have a number of plans that you can choose from. Best Payment Gateways in India CCAvenue One of the oldest names in the world of payment gateways, you might have come across this if you did online shopping before it became mainstream. There’s no way you can expect the higher number of sales without a payment gateway. The entire process would hardly take half a minute, but there’s a lot going on behind the scene. Also, note that when you choose to install a payment gateway is because you need to earn the customer’s trust. Because conducting payments over a payment gateway offloads your customer’s card details without storing it. They provide free payment gateways once you subscribe to the platform.
Payment Gateway Cost In India
Transaction Deduction Rate – Amount deducted per transaction through the payment gateway.Below are the links to the pricing pages of some of the famous payment gateways in India:Pricing Options for CCAvenue Payment GatewayPayUPricing Options for EBS Payment Gateway in IndiaYou can see for yourself that the Setup fee are extremely high when you want lower TDRs.Your negotiation skills will be highly tested when you approach a payment gateway provider. EBS Owned by Ingenico group and offices based in most metropolitan cities of India including Kolkata and Delhi, EBS is a slightly pricier option as they come with a setup cost of Rs 11,999. Your annual maintenance charges should remain less than Rs. A payment gateway is an application service provider that process credit card information and authorizes card payments for online retailers. These details are sent securely and in an encrypted format from your website to your chosen payment gateway. And thus improve the overall conversion rate. But you can keep a tab on them to check the current status. One of the biggest challenges that people face in this situation is choosing a payment gateway. 40K +The cost of payment gateways are split into 3 parts a. They have a flat transaction rate, which is 1.99% + Rs 3, and their seamless multi-device compatibility makes it easy to pay on any device. And that means your customers’ personal financial details aren’t hacked into. And be sure to read their reviews online, after all it is a matter of both convenience and security and also indirectly your brand’s goodwill.
Payment Gateways services cost anywhere between free to Rs. At its best you should be getting a payment gateway at no setup fee at all. They also have Economy, Silver, Gold and Platinum packages to choose from. Citrus Pay Another known name in the circuit, probably their USP lies in the fact that they can capture an impressively high number of transactions. With claims of simple and transparent pricing options, they charge 0.75% for less than Rs 2000 worth transaction and 1% for transactions exceeding Rs 2000. You can always re-negotiate a lower TDR once you show good amount of transactions per month.Please note, that there is always a 12.36 % service charge added to every price are you shown, including the TDR’s.Currently, if you are looking for saving on costs with regards to payment gateways, might I suggest resellers such as E commerce platforms like Zepo, Magento, Shopify, etc. They charge no setup fee or AMC and have a flat rate of 1.9% Here is a comparison chart with all the basic details of the seven payment gateway options. Without a payment gateway on your website, your customers will have to either deposit money to your bank, issue a cheque, or jump to another third party site to complete the transaction. Zaakpay This payment gateway is on the list mainly because of its customized service. Touted best for startups and small businesses who aren’t looking to shell out a lot of money for a payment gateway, not only Zaakpay comes with no setup cost but they also provide you with pricing quotations based on the type of business you have. With an Indian e-commerce giant like Flipkart backing this payment gateway, this is worth the consideration. What is a Payment Gateway?
Payment Gateway Cost In India
I’m sure you’ve seen an EFTPOS while shopping at stores, the black box-like device that the cashier uses to swipe your card? A payment gateway is the online equivalent of that. They have a variety of payment options and claim to boost your sales by 12% through dynamic switching, mobile optimized page, and other features. In our example, the company is Visa. Payzippy offers PSI DCC certified services. Then your account that is also referred to as the merchant’s bank account and that will have a payment processor already set up to receive this information will then communicate with the card company. Most payment gateway providers waive off the annual maintenance charges for the first year.Coming to TDR’s, they depend upon the volume of transactions you do per month. Annual Maintenance Charge – A maintenance charge for the operational costs of a payment gateway.c. Instamojo will help you collect payment through links. Suppose you retail books online. They don’t charge any setup fee OR annual maintenance fee. They claim to have the lowest debit card pricing as they charge 0.75% commission for transactions lower than Rs 2000 and 1% for transactions exceeding Rs 2000. Although there is no setup fee involved they charge an AMC of Rs 4900 every year. Then a series of checking would be done, like Visa would determine which bank had issued them that card, and if the customer has enough credit (or account balance in case of a debit card) to make this purchase. With payment through multiple currency options and zero setup fee, this is a popular option. However, at the time of writing, Payzippy isn’t accepting new customer or merchant accounts. The bank then sends an approval back to the card company (Visa) who sends an approval to the merchant’s bank, who in turn sends an approval to the payment gateway and which approves the transaction to the website. PayUbiz With customers like Snapdeal, Bookmyshow, and Goibibo.com, PayUbiz is a trusted name in itself. They, however, do charge AMC from a year after the date of setup. Plus it’s also a lot safer to conduct an online monetary transaction using your credit/debit card details through a payment gateway. You can send a link to your customer, and they’ll enter their card details and make the payment without even going to your website. Their commissions rates are also pretty much in tune with other payment gateways in India. Payzippy This is a Flipkart group brainchild and besides being their payment gateway, Payzippy does have other popular websites like Lenskart and Zansaar as their clients. Plus you would also be expected to cough up Rs 2400 as Annual Maintenance Fee.