10 Best Razorpay Alternatives and Competitors in India in 2026

The best Razorpay alternatives are 1. Cashfree, 2. Xflow, 3. PayU, 4. CCAvenue, 5. Paytm Payment Gateway, 6. Instamojo, 7. Stripe, 8. Paddle, 9. Skydo and 10. Wise Business.

Among razorpay alternatives in India, the right one depends on what Razorpay does for you today. If you take UPI and card payments from Indian customers, Cashfree, PayU, CCAvenue, Paytm and Instamojo do the same job at similar rates. If you receive money from clients abroad, a receiving platform such as Xflow or Skydo costs less than Razorpay's export routes. If you sell software worldwide, Paddle or Stripe fit better.

• Cashfree - Built for startups and online businesses that want fast settlement, payouts and a 1.95% platform fee.
• Xflow - Built for exporters, agencies, freelancers and SaaS companies receiving international payments into India.
• PayU - Built for e-commerce businesses that want a mature gateway with 150+ payment methods and no set-up fee.
• CCAvenue - Built for businesses that want one of India's oldest gateways with multi-currency checkout.
• Paytm Payment Gateway - Built for businesses whose customers already pay with Paytm and UPI.
• Instamojo - Built for small sellers and creators who want payment links and an online store with no coding.
• Stripe - Built for SaaS and subscription businesses billing customers in many countries.
• Paddle - Built for software companies that want a merchant of record to handle global sales tax.
• Skydo - Built for exporters who want a flat fee per invoice and bulk eBRC generation.
• Wise Business - Built for businesses that receive and pay in several currencies from one balance.

Pick by your situation: each row names the payment gateway like Razorpay that fits that job best.

Fees exclude 18% GST and come from each provider's pricing page, checked 16 October 2026. CCAvenue does not publish a rate card, so its figures are indicative.

Razorpay is a strong gateway, as our razorpay review covers. These are the points where businesses start comparing.

• The rate is 2% on almost everything. UPI, cards, net banking and wallets all carry a 2% platform fee plus 18% GST, so a ₹10,000 order costs ₹236. Cashfree's 1.95% saves about ₹6 per order, which adds up at volume.
• Export payments are priced by rail. Razorpay charges 1% plus GST when an overseas client pays into a local account, 2% on a FlashLinks link with five-day settlement, and up to 3% plus GST by card. A fixed ₹1,000 also applies to any transfer below ₹1,00,000.
• Settlement and holds. Standard settlement is T+1, with instant settlement as a paid add-on. Businesses that have had a payout held or an account paused often add a second gateway as a backup.
• It is a checkout product first. If your clients pay invoices by bank transfer, you pay for checkout features you do not use.

1. Cashfree

Cashfree Payments is the closest like-for-like Razorpay competitor. It is an RBI-authorised payment aggregator offering a payment gateway, payouts and cross-border collection on one dashboard, with paperless onboarding and a developer-friendly API. Many startups run it as their main gateway or as a backup next to Razorpay.

How it compares with Razorpay: The products are close, so the deciding points are price and settlement. Cashfree's platform fee is 1.95% against Razorpay's 2%, and new merchants signing up from 21 July 2026 get 0% on their first ₹20 lakh of GMV, subject to conditions.

Key features

• A 1.95% platform fee on standard domestic payments, plus GST. On ₹10 lakh of monthly sales that is about ₹500 a month less than a 2% gateway, before GST.
• Instant settlement around the clock for a 0.30% fee. A business that needs cash the same day can get it without waiting for a T+1 cycle.
• International Visa and Mastercard payments at 2.99% and American Express at 2.95%. Indian sellers can take overseas cards on the same checkout.
• Payouts to vendors, customers and staff, plus Easy Split for splitting a payment between sellers, its answer to Razorpay Route. Marketplaces can collect, split and pay out without a second provider.

Pros

• The festive offer gives new merchants 0% on the first ₹20 lakh of GMV. A young business can save up to ₹39,000 in platform fees while it grows.
• No set-up fee, and an annual charge applies only to premium services. Small businesses can start without upfront cost.

Cons

• The 0% offer excludes Amex, Diners, corporate cards, EMI, pay later and international payments, and it can be withdrawn if credit cards pass 60% of GMV. Read the terms before you count on it.
• Its rate card does not map 1.95% and 2.0% to each payment method. Ask for a written method-by-method rate before you switch.

Best for: startups and online businesses wanting Razorpay-style checkout at a slightly lower fee, with fast settlement.

Verdict: The strongest straight swap for Razorpay's domestic gateway, though it is worth knowing the cashfree alternatives too if its terms do not fit.

2. Xflow

Xflow is the pick for the part of Razorpay many Indian businesses use for money from abroad. Instead of a card checkout or a payment link, your overseas client gets local account details in their currency and pays your invoice like a local supplier. Xflow converts at the mid-market rate and settles INR into your Indian bank account.

How it compares with Razorpay: Razorpay prices export payments by how the client pays, from 1% plus GST to 3% plus GST, and adds ₹1,000 on transfers under ₹1,00,000. Xflow charges one flat fee on most invoices. It does not replace Razorpay's domestic checkout, so many businesses keep Razorpay for Indian customers and use Xflow for clients abroad.

Key features

• Receiving accounts in 25+ currencies, so a US client pays by ACH and a European client by SEPA. Clients avoid international wire charges, and you avoid intermediary bank deductions.
• Published fees at the mid-market rate: Starter is $12 flat up to $2,000, then 0.6%; Growth is $20 flat up to $5,000, then 0.4%. The fee is known before you send the invoice.
• INR settlement on the next business day, with an eFIRA issued automatically for each payment. You have the proof of foreign receipt you need for zero-rated GST without asking anyone.

Pros

• On a $1,000 invoice you pay $12, against about $22 through Razorpay's bank-transfer route once the ₹1,000 minimum applies. A freelancer billing four such invoices a month saves about $40.
• Final RBI Payment Aggregator Cross-Border (PA-CB) authorisation for inward and outward payments, dated February 2026. You can check it on RBI's published list.

Cons

• It does not take UPI or card payments from Indian customers. Businesses selling at home still need a domestic gateway.
• It is built for businesses registered in India, so foreign companies cannot use it to receive into India.

Best for: exporters, agencies, freelancers and SaaS companies paid by clients abroad.

Verdict: The lowest-cost replacement for Razorpay's international payments.

3. PayU

PayU India is one of the largest gateways in the country, part of the Prosus group, with 150+ payment methods including UPI, cards, net banking, wallets and buy now pay later. It is common with e-commerce stores, education and travel businesses that want a proven checkout.

How it compares with Razorpay: The headline rate is the same 2% on domestic cards, net banking and wallets, and international cards cost 3% on both. Razorpay settles T+1 by default, while PayU's standard cycle is T+2, so check whether that extra day matters to your cash flow.

Key features

• 2% on domestic Visa and Mastercard, net banking, wallets and pay later, plus 18% GST. Pricing for merchant UPI depends on business type and volume, so ask for it in writing.
• International cards, American Express and Diners at 3%. Stores with overseas buyers get one checkout for all of them.
• No set-up, onboarding or annual fee. You pay only when you sell.

Pros

• Same-day and priority settlement are available for some business categories. Businesses that need faster cash can ask for it once they qualify.
• Instant refunds and anti-fraud tools come with the gateway. Stores with frequent returns can refund customers without delay.

Cons

• Standard settlement is T+2, a day slower than Razorpay. On ₹5 lakh of daily sales, that is an extra day of ₹5 lakh tied up.
• The extra fee for faster settlement is not published. Ask for it before you rely on same-day payouts.

Best for: e-commerce and education businesses that want a mature gateway with wide payment methods.

Verdict: A safe, established alternative at the same headline rate.

4. CCAvenue

CCAvenue, run by AvenuesAI Limited (formerly Infibeam Avenues), is one of India's oldest payment gateways. It offers a wide range of payment options, EMIs and multi-currency checkout that shows prices in a buyer's own currency, and it is common with larger merchants that want negotiated rates.

How it compares with Razorpay: Razorpay publishes one rate card and lets anyone sign up in minutes. CCAvenue quotes plans by business, and third-party comparisons put its domestic rate at about 2% and its international rate at 3% or more. Choose it when multi-currency display or negotiated pricing matters more than self-serve set-up.

Key features

• Multi-currency checkout that shows prices in the buyer's currency. Overseas buyers see a familiar amount, which can lift completed payments.
• Cards, net banking, wallets, UPI and EMIs through one integration. A single gateway covers almost every Indian payment method.
• Smart routing and white-label checkout options for larger businesses. Big merchants can keep their own branding on the payment page.

Pros

• Negotiable pricing at volume. High-volume merchants can get below the standard rate.

Cons

• No public rate card, and third-party sources disagree on set-up and annual fees. Get a written quote covering set-up, annual maintenance, MDR and conversion before you decide.
• The sign-up and integration process is slower than Razorpay's. Small businesses that want to go live today may find it heavy.

Best for: larger merchants that want multi-currency checkout and negotiated rates.

Verdict: Worth a quote at volume; not the quickest start for a small business.

5. Paytm Payment Gateway

Paytm Payment Gateway, run by Paytm Payments Services, lets businesses accept UPI, cards, net banking and the Paytm wallet, with Paytm Postpaid as a pay-later option. Its strength is reach: many Indian customers already have the Paytm app and trust its checkout.

How it compares with Razorpay: Both settle on T+1 by default and charge no set-up fee. Paytm also offers same-day and on-demand settlement, but it does not publish its transaction rates, so you need a quote to compare costs.

Key features

• No set-up or annual maintenance fee. You pay only transaction charges.
• T+1 settlement as standard, with same-day and on-demand options. Businesses can match payouts to when they pay suppliers.
• International payments with real-time currency conversion, without extra APIs. Sellers can accept overseas buyers on the same integration.

Pros

• Customers who use the Paytm app can pay from their wallet or Postpaid. That can help conversion for brands with many Paytm users.

Cons

• Transaction rates are not on the payment gateway page. Ask for a full rate card, including UPI and international cards, before switching.
• Some businesses still remember the 2024 RBI action against Paytm Payments Bank, a separate company. The gateway is run by Paytm Payments Services, which received final RBI payment aggregator authorisation in November 2025.

Best for: businesses whose customers already pay with Paytm.

Verdict: A reasonable choice if Paytm users are a large share of your buyers; get the rates first.

6. Instamojo

Instamojo is built for small businesses, creators and sellers who do not have a website or a developer. You can share a payment link, build a simple online store or sell digital products, and accept UPI, cards, net banking and wallets.

How it compares with Razorpay: Razorpay also offers payment links, but Instamojo bundles a free store and landing pages. Its gateway fee is 2% + ₹3 per transaction, slightly more than Razorpay on small orders, and it settles on T+3.

Key features

• Payment links on the free Quick plan at 2% + ₹3 per transaction. A tutor or freelancer can send a link on WhatsApp and get paid without a website.
• A free online store with unlimited products on the Lite plan, with transaction fees of 5% + ₹3 for physical goods. Paid plans cut that to 2% + ₹3, so compare the plan fee with your sales.
• Standard payouts on a transaction-plus-3-days basis, with faster options for an extra fee. Sellers should plan cash flow around the three-day gap.

Pros

• No coding needed for links, stores or landing pages. A new seller can start selling the same day.
• A convenience fee option lets the customer pay the 3% + ₹3 + GST. You receive the full amount you charged.

Cons

• The free store charges 5% + ₹3 on physical goods and 10% + ₹3 on digital goods. Busy sellers pay much more than on a 2% gateway unless they upgrade.
• International card payments are on request and charged in INR, with no multi-currency support. It is not the right tool for overseas customers.

Best for: small sellers, tutors and creators without a website.

Verdict: The easiest start for small sellers; check the store fees as you grow.

7. Stripe

Stripe is a global payments platform used by SaaS and subscription businesses for cards, subscriptions and invoicing on one integration. In India, access is by invitation through its sales team rather than open sign-up.

How it compares with Razorpay: Razorpay is built for Indian payment methods such as UPI; Stripe is built for global card billing and has mature subscription tools. For international cards, Stripe India charges 3% plus 2% when currency conversion is needed, and pays out international card revenue about five business days after the payment.

Key features

• Subscription billing, invoicing and checkout on one integration. A SaaS company can bill customers in many countries from day one.
• International cards at 3%, with another 2% for currency conversion, plus GST. A $1,000 converted payment costs about $59 including GST.

Pros

• Its API documentation and test tools are among the best available. Engineering teams build and test faster.

Cons

• India sign-up is by invitation only. Most Indian businesses cannot simply open an account.
• The first payout usually waits 7 to 14 days, and India accounts get automatic daily payouts only. You cannot choose weekly or manual schedules.

Best for: SaaS businesses already using Stripe elsewhere for global card billing.

Verdict: Strong for global subscriptions; expensive for receiving export payments, which is why many teams compare stripe alternatives first.

8. Paddle

Paddle is a merchant of record for software companies. It sells your product to the customer in its own name and handles global sales tax, VAT, fraud and chargebacks, then pays you the balance. Indian SaaS companies use it to sell worldwide without registering for tax in each country.

How it compares with Razorpay: With Razorpay you are the seller and handle tax yourself. Paddle charges more per sale but takes on tax compliance in over 100 jurisdictions.

Key features

• 5% + 50¢ per checkout sale, covering payments, sales tax, fraud and chargebacks. One fee replaces separate tax and billing tools.
• Subscription billing with automatic dunning to recover failed renewals. SaaS companies keep more of their recurring revenue.

Pros

• No VAT or sales tax registrations abroad, because Paddle is the seller. A small Indian SaaS team avoids filings in the EU, UK and US.
• No monthly fee. Cost rises only with sales.

Cons

• 5% + 50¢ is far above Razorpay's 3% on international cards. On low-priced plans the fixed 50¢ hurts most.
• It is only for software and digital products. Service exporters and physical-goods sellers need another route.

Best for: Indian SaaS companies selling to customers worldwide.

Verdict: Worth the premium when global tax is the real problem.

9. Skydo

Skydo is an India-focused receiving platform for exporters. Clients pay into multi-currency accounts on local transfer rails, money converts at the mid-market rate with no markup, and Skydo issues a FIRA on every payment. Skydo Technologies Private Limited holds final RBI PA-CB authorisation covering inward and outward flows, dated 8 January 2026.

How it compares with Razorpay: Razorpay charges a percentage on export payments; Skydo charges a flat fee you know before you invoice. Its bulk eBRC tool also helps goods and software exporters with monthly filings.

Key features

• A flat $19 up to $2,000 and $29 from $2,001 to $10,000, then 0.3%, before 18% GST. The fee is fixed, so you can quote it into a client contract.
• Instant FIRA on every payment received. Your GST refund paperwork is complete without asking the bank.
• Bulk eBRC generation once you link a DGFT account. Goods and software exporters save a monthly filing job.

Pros

• A fee slider on its site prices any invoice from $100 to $100,000 before you sign up. You can compare without a sales call.

Cons

• A flat $19 is heavy on small invoices: on $500 it is 3.8% before GST. Freelancers with small invoices may pay less elsewhere.
• Above roughly $100,000 a month, pricing becomes custom. Large exporters need a quote.

Best for: goods and software exporters who file eBRCs and send mid-sized invoices.

Verdict: A strong exporter option when invoices are above $2,000 and eBRCs matter; our skydo review has the full fee breakdown.

10. Wise Business

Wise Business lets you hold 40+ currencies, gives you local account details to receive in the main ones, converts at the mid-market rate and shows its fee before you convert. Its main advantage is the spendable balance: the same account can receive from clients and pay contractors abroad.

How it compares with Razorpay: Receiving into India costs about 1.6% to 1.7% plus 18% GST on the fee, plus $2 for the eFIRC, so roughly 2% all-in. That is more than Razorpay's 1% bank-transfer route on large invoices, so Wise wins only if you use the two-way balance.

Key features

• Balances in 40+ currencies, more than most receiving platforms. Useful if you invoice or pay outside dollars, euros and pounds.
• A spendable multi-currency balance with a debit card. You can pay overseas vendors without converting to rupees first.

Pros

• Fees are shown before every conversion. You can see exactly what lands in rupees.

Cons

• Its RBI authorisation, dated 12 March 2026, covers inward flows only. You cannot use it as an outward route from India.
• The eFIRC arrives by email for each transfer once you request it. Busy exporters need to remember to ask.
• On invoices above about $1,100, its roughly 2% costs more than flat-fee platforms. The gap grows with invoice size.

Best for: businesses that also pay contractors or suppliers abroad.

Verdict: Choose it for the two-way balance, not for the lowest receiving cost; the skydo vs wise comparison shows the gap by invoice size.

Two common payments, priced on each provider's published rates plus 18% GST on the fee.

For domestic sales, most gateways land within ₹10 of each other, so settlement speed and support decide. For export invoices the gap is wider, from $12 to $59 on the same $1,000.

If clients abroad pay you, the choice is less about checkout and more about how the money arrives.

Documents to check: service exporters need a fira as proof of foreign receipt for zero-rated GST. Goods and software exporters also need an eBRC, generated against the shipping bill. Before you switch, confirm the provider issues the FIRA automatically and holds RBI PA-CB authorisation, which you can check on RBI's published list by the company's legal name.

Three more names come up when businesses compare Razorpay. Two are gateways with narrower strengths, and one is often confused with a gateway but does a different job, so check which problem you are solving before you sign up.