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.

In this article, we delve into the top 13 payment gateway companies in India, exploring their role in the industry, what sets them apart, and how they are contributing to the nation’s shift to digital payments.

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 Payment Gateways Industry in India:

The India payment gateways market features several major players, including Razorpay Software Private Limited (Razorpay), PayU Payments Private Limited (PayU), IndiaIdeas.com Limited (BillDesk), Infibeam Avenues Limited (CCAvenue), NTT DATA Payment Services India Ltd, Cashfree Payments India Private Limited, One97 Communications Limited (Paytm), IppoPay Technologies Pvt Ltd, Fiserv India Pvt Ltd (Fiserv Inc.), Easebuzz Private Limited, PhonePe Group, Airpay Payment Services, and One MobiKwik Systems Limited (MobiKwik). These companies are at the forefront of the payment gateway industry in India, offering innovative solutions to businesses and consumers alike.

More information about these companies has been provided below.

1. Razorpay Software Private Limited (Razorpay)

Establishment:	2014
Headquarters:	Bangalore, Karnataka
Website:	https://razorpay.com/

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.

Key Features:

• Developer-friendly APIs
• Instant payment settlement
• Support for global payments
• Subscription and recurring billing solutions

2. PayU Payments Private Limited (PayU)

Establishment:	2014
Headquarters:	Haryana, India
Website:	https://payu.in/

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.

Key Features:

• Robust fraud prevention systems
• Quick and seamless checkout processes
• Support for multiple payment modes
• Advanced reporting and analytics tools

3. IndiaIdeas.com Limited (BillDesk)

Establishment:	2000
Headquarters:	Mumbai, Maharashtra
Website:	https://www.billdesk.com

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:

• Scalable payment solutions for large businesses
• Real-time payment tracking
• Comprehensive security features
• Wide range of payment methods

4. Infibeam Avenues Limited (CCAvenue)

Establishment:	2007
Headquarters:	Gujarat, India
Website:	https://www.ia.ooo/

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:

• Multi-currency and multi-language support
• Advanced fraud detection tools
• Instant payment tracking
• Global reach with international payment processing

5. NTT DATA Payment Services India Limited

Establishment:	2006
Headquarters:	Mumbai, India
Website:	https://www.nttdatapay.com/

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. With a focus on advanced technology, NTT DATA integrates AI and machine learning to improve fraud detection and transaction accuracy.

Key Features:

• AI-powered fraud detection
• Customizable payment solutions
• Secure and scalable payment infrastructure
• Strong compliance with industry regulations

6. Cashfree Payments India Private Limited

Establishment:	2015
Headquarters:	Bangalore, Karnataka
Website:	https://www.cashfree.com/

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.

Key Features:

• Instant settlements
• Easy-to-integrate APIs
• Subscription billing and payment tracking
• Flexible payout solutions

7. One97 Communications Limited (Paytm)

Establishment:	2009
Headquarters:	Noida, India
Website:	https://paytm.com/

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.

Key Features:

• Mobile wallet integration
• Quick and secure online payments
• UPI-based payment system
• Comprehensive merchant solutions

8. IppoPay Technologies Private limited

Establishment:	2020
Headquarters:	Chennai, Tamil Nadu
Website:	https://www.ippopay.com/

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:

• Payment solutions for small businesses
• Supports all types of digital transactions
• UPI integration and mobile wallet payments
• Focus on rural and regional markets

9. Fiserv India Pvt Ltd (Fiserv Inc.)

Establishment:	1984
Headquarters:	Noida, India
Website:	https://www.fiserv.com/en-in.html

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.

Key Features:

• Secure, scalable payment processing
• Advanced fraud detection and prevention
• Customizable payment solutions for enterprises
• Seamless integration with financial institutions

10. Easebuzz Private Limited

Establishment:	2014
Headquarters:	Pune, Maharashtra
Website:	https://easebuzz.in/

 

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.

Key Features:

• Real-time payment tracking
• Advanced analytics and reporting
• Simple integration for small businesses
• Affordable pricing for startups

11. PhonePe Limited

Establishment:	2016
Headquarters:	Bangalore, Karnataka
Website:	https://www.phonepe.com/

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.

Key Features:

• UPI-based payment processing
• Mobile wallet integration
• Seamless online and offline payments
• Extensive merchant ecosystem

12. AIRPAY

Establishment:	2012
Headquarters:	Mumbai, Maharashtra
Website:	https://airpay.co.in/

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.

Key Features:

• Multi-channel payment options
• High-level security features
• Easy-to-integrate solutions
• Comprehensive reporting tools

13. One MobiKwik Systems Ltd. (MobiKwik)

Establishment:	2009
Headquarters:	Gurgaon, Haryana
Website:	https://www.mobikwik.com/

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.

Key Features:

• Mobile wallet and BNPL services
• Multiple payment options (card, UPI, wallet)
• Easy integration with e-commerce platforms
• Flexible payment solutions

Wrapping Up: Key Insights and Future Outlook for India’s Payment Gateway Market

The India payment gateways market is on a trajectory of rapid growth, fueled by the widespread adoption of digital technologies, government initiatives promoting cashless transactions, and the explosive rise of mobile commerce. Leading companies like Razorpay, PayU, BillDesk, and many others are shaping the future of payments in India, offering businesses a diverse range of payment solutions to cater to the needs of today’s digital-first economy.

As this market continues to expand, IMARC Group is committed to providing businesses with the insights they need to succeed in this dynamic landscape. Dive deep into the India payment gateways market with exclusive insights, including:

• CAGR projections for the 2025–2033 forecast period, helping businesses understand the growth trajectory.
• Key drivers and factors that will fuel market growth in the next five years.
• Accurate estimations on upcoming trends and how consumer behavior may evolve.
• A comprehensive analysis of the market’s regional and national expansion, highlighting growth areas.
• A detailed review of the competitive landscape, along with insights on the top players in the industry.
• A breakdown of the challenges that could impact market growth, and how businesses can stay ahead.

With these insights, businesses will be equipped to make informed decisions, identify growth opportunities, and navigate the evolving digital payment ecosystem in India. Explore IMARC’s comprehensive market research report today to stay ahead of the curve!

About Author:

Shree Basu Senior Content Writer at IMARC Services Private Limited Shree Basu is an experienced content writer with a passion for researching about diverse markets, ranging from technology to chemistry to agriculture. She has around two years of experience in different aspects of market research and has worked with multiple startups and enterprises in the B2B, B2C, and retail industries. In her free time, Shree enjoys reading, feeding stray animals, and watching crime documentaries.