Top 13 Payment Gateways Companies in India: Leading Players & Market Insights

India's digital payments ecosystem is rapidly evolving, driven by advancements in technology, greater internet accessibility, and changing consumer preferences. Payment gateways, as a critical component of this transformation, are enabling secure, efficient, and smooth transactions for millions of individuals and businesses across the country. These systems are key to facilitating the country's transition to a digital-first economy, ensuring that both consumers and merchants can seamlessly navigate the world of online payments. As of 2024, the India payment gateways market was valued at USD 1,793.5 Million, and according to IMARC Group, it is projected to grow to USD 4,125.0 Million by 2033, at a CAGR of 9.70% during 2025-2033. This rapid growth underscores the shift toward cashless payments and the increasing adoption of digital financial services.

The key demand drivers include the exponential growth in online retail, food delivery services, subscription-based business models, and the government's push toward financial digitization. The integration of artificial intelligence, machine learning for fraud detection, and blockchain technology is further propelling market innovation. Additionally, the rising demand for seamless omnichannel payment experiences, instant settlement capabilities, and enhanced security features continues to drive technological advancement and market expansion across diverse industry verticals.

Learn about opportunities, challenges, and trends in the India payment gateways market with IMARC’s market research report. Try a free sample today!

List of Top Companies Operating in the India Payment Gateways Industry:

The India payment gateways market has several major players including Airpay Payment Services, Cashfree Payments India Private Limited, Easebuzz, Fiserv, Inc., IndiaIdeas.com Limited (BillDesk), Infibeam Avenues Limited, IppoPay Technologies Pvt Ltd, NTT DATA Payment Services, One MobiKwik Systems Limited, One97 Communications Limited (Paytm), PayU, PhonePe, and Razorpay Software Limited. More information about these companies has been provided below.

1. Airpay Payment Services

Airpay focuses on providing tailored payment solutions for sectors like retail, hospitality, and government services. The company offers secure, multi-channel payment acceptance options, including mobile, web, and POS systems. Airpay helps businesses manage payments across multiple platforms effortlessly. Designed to be intuitive and reliable, Airpay helps businesses streamline operations and deliver a smooth payment experience for customers. With strong security measures, real-time transaction tracking, and integration capabilities, it supports enterprises of varying sizes in adopting digital payments. Airpay continues to strengthen its presence by offering tailored solutions that simplify payment management and drive business efficiency.

2. Cashfree Payments India Private Limited

Cashfree is a rapidly growing payment gateway provider that focuses on offering fast, secure, and efficient payment processing for businesses. It provides innovative solutions such as instant refunds, subscription billing, and payouts, making it an excellent choice for businesses with dynamic payment needs. In June 2025, Cashfree launched its AI-powered Video KYC (VKYC) solution, designed to significantly improve user onboarding by reducing fraud, enhancing security, and boosting conversion rates by up to 80%. This new technology, which supports low-bandwidth environments and includes live AI-based translation in over 20 regional languages, further strengthens Cashfree’s position as a leader in providing efficient and scalable payment solutions for businesses across India.

3. Easebuzz

Easebuzz caters primarily to small and medium-sized businesses, offering easy-to-integrate APIs and real-time payment tracking tools. The platform simplifies the payment collection process for merchants and provides detailed analytics, making it a valuable tool for businesses looking to grow without complexity. In February 2025, Easebuzz received final authorization from the Reserve Bank of India to operate as an Online Payment Aggregator. This approval strengthens Easebuzz’s position as a trusted payment solutions provider, ensuring even greater security, reliability, and regulatory compliance for its growing customer base of over 200,000 businesses across sectors like eCommerce, education, and travel.

4. Fiserv, Inc.

Fiserv is a global leader in financial services technology, offering secure payment processing solutions for banks, credit unions, and businesses. Fiserv’s payment gateways are widely regarded for their scalability, security, and ability to handle large transaction volumes, making it ideal for enterprise clients. Fiserv’s offerings combine advanced fraud detection, regulatory compliance, and real-time transaction capabilities to ensure security and reliability. With innovative digital payment tools, omnichannel support, and strong global presence, Fiserv empowers clients to modernize their financial operations. The company continues to drive the future of payments by enabling seamless, secure, and efficient digital transaction experiences.

5. IndiaIdeas.com Limited (BillDesk)

BillDesk is one of India’s oldest and most trusted payment gateway providers. The company focuses on simplifying payments for businesses, governments, and financial institutions. BillDesk excels in handling recurring payments, utility bill payments, and e-commerce transactions, and it is a preferred choice for large enterprises due to its scalability and security features. Key features include scalable payment solutions for large businesses, Real-time payment tracking, and Comprehensive security features. With a reputation built over decades, BillDesk ensures secure, efficient, and scalable payment solutions that can handle high transaction volumes with ease. Its strong compliance with industry standards and advanced fraud prevention systems further strengthen its position as a preferred partner. BillDesk continues to support India’s digital payment growth by enabling seamless and dependable transactions.

6. Infibeam Avenues Limited

Infibeam Avenues is renowned for offering comprehensive digital payment solutions to businesses across various sectors, including retail, travel, and education. Its CCAvenue gateway is one of the most widely used, providing businesses with easy-to-use payment integration and real-time transaction monitoring. CCAvenue is also known for its international payment gateway support. Key features include multi-currency and multi-language support, advanced fraud detection tools, and instant payment tracking. The company is known for its international payment support. CCAvenue enables businesses to accept payments from customers across the globe, thereby making it a strong choice for companies with cross-border operations. With secure infrastructure, scalability, and reliable customer service, Infibeam Avenues continues to empower businesses of all sizes to embrace digital payments and expand their reach.

7. IppoPay Technologies Pvt Ltd

IppoPay provides a seamless payment infrastructure solution designed for small businesses, freelancers, and homepreneurs. Focused primarily on Tier 2 and Tier 3 cities, IppoPay helps businesses in underserved areas accept digital payments, including card payments, UPI, and mobile wallets. Key Features include Payment solutions for small businesses and focuses on rural and regional markets. The platform is designed to be simple and accessible, offering instant onboarding, easy setup, and user-friendly tools for financial management. Quick settlement features ensure that business owners receive their money without delays, supporting better cash flow. Backed by reliable customer support, IppoPay empowers local entrepreneurs to embrace digital transactions and grow confidently in the evolving digital economy.

8. NTT DATA Payment Services

NTT DATA Payment Services India specializes in providing secure payment solutions for businesses, financial institutions, and government entities. The company’s offerings are known for their security, scalability, and efficiency. It also provides seamless integration with existing business systems, ensuring minimal disruption during adoption. With a focus on advanced technology, NTT DATA integrates AI and machine learning to improve fraud detection and transaction accuracy. Key features include customizable payment solutions. Secure and scalable payment infrastructure, and strong compliance with industry regulations.

9. One MobiKwik Systems Limited

MobiKwik, originally a mobile wallet, has expanded its services to include a robust payment gateway that supports various payment methods including UPI, wallets, and credit cards. It is known for its focus on providing flexible, user-friendly payment solutions, making it a popular choice among e-commerce businesses. In line with this, in January 2025, MobiKwik further strengthened its market position by launching the full version of India’s Central Bank Digital Currency (CBDC) – eINR, in partnership with the Reserve Bank of India (RBI) and Yes Bank. This development reflects MobiKwik’s commitment to providing flexible, user-friendly payment solutions, making it a popular choice among e-commerce businesses. The eINR wallet allows seamless peer-to-peer and peer-to-merchant transactions, contributing to the company’s goal of driving digital currency adoption and supporting a cashless economy in India.

10. One97 Communications Limited (Paytm)

One97 Communications, operating under the Paytm brand, is one of the most recognized names in India’s digital payments industry. Paytm offers a comprehensive range of services, including mobile wallet solutions, bill payments, and a robust payment gateway for businesses. Its platform supports both online and offline payments, making it widely accessible. For instance, in June 2024, Paytm focused on its merchant side and witnessed significant growth, with the number of merchants increasing from 79 Lakh to 109 Lakh, demonstrating the company’s successful shift towards strengthening its core payment services.

11. PayU

PayU is one of the largest payment gateway companies in India, providing comprehensive solutions to businesses looking for secure and reliable payment systems. It supports various payment methods, including debit and credit cards, UPI, net banking, and mobile wallets. PayU is known for its ability to handle high transaction volumes, making it an ideal choice for large e-commerce platforms. In May 2025, PayU Payments Private Limited received final approval from the Reserve Bank of India (RBI) to operate as an official online payment aggregator. This move solidifies PayU’s leadership in the digital payments landscape, allowing it to onboard more merchants and further strengthen its position as a trusted and scalable payment solution provider.

12. PhonePe

PhonePe has quickly become one of India’s leading digital payments platforms. PhonePe’s Payment Gateway offers businesses a flexible way to handle digital payments through multiple channels, including UPI, cards, net banking, and wallets. With a robust ecosystem that includes insurance and bill payments, PhonePe is trusted by millions of users and businesses. For instance, in February 2025, PhonePe further strengthened its market position by introducing a device tokenization solution for debit and credit card payments, enhancing security and simplifying transactions. This new feature allows Visa cardholders to tokenize their cards on the PhonePe app, enabling seamless payments and reducing fraud risks. PhonePe continues to lead in offering secure, user-friendly solutions for both consumers and merchants by expanding its services and innovations.

13. Razorpay Software Limited

Razorpay has earned its place as one of India's most innovative payment gateway providers, thanks to its developer-friendly APIs, seamless integration, and robust support for businesses of all sizes. It offers businesses a full-stack payment solution, including features like subscription billing, international payments, and automated reconciliation. In June 2025, Razorpay took a significant step forward with the launch of India’s first AI-powered Self-Healing POS devices, designed to address common challenges faced by offline merchants. This technology proactively detects and resolves up to 60% of POS issues, ensuring faster checkouts, improved device uptime, and smoother in-store payment experiences.

Get an inside look at the India Payment Gateways market with exclusive insights, including:

• CAGR projections during the 2025-2033 forecast period.
• In-depth information on the factors that will fuel the India payment gateways market growth in the next five years.
• Precise predictions regarding upcoming trends and potential changes in consumer behavior.
• Analysis of the India payment gateways industry's expansion at the regional and global level.
• A thorough review of the market's competitive landscape and detailed information on key players.
• Detailed explanations of the challenges that could impede the growth of the India payment gateways market.

About Author: