Best Razorpay Alternatives for Indian Businesses (2025)

If your business caters to a global customer base, chances are you've already heard of Razorpay. Maybe even tried it for managing cross-border transactions. It lets you accept payments through:

• A payment gateway
• Dedicated payment pages
• Payment links
• Bank transfers

And while it can be a good option for a lot of businesses, its high transaction costs and FX markup make it unsuitable for smaller ones.

Even if cost isn't a problem, it still helps to look at different options, so you can get the maximum value for what you're paying. In this article, we'll look at the top Razorpay alternatives that you should consider in 2025.

Don't get us wrong - Razorpay is a great platform. But its pricing and features don't work for everyone, especially those dealing with global clients. You see, Razorpay does allow international payments. However, it doesn't offer a complete cross-border solution.

As such, businesses that work with international customers or vendors are often left to explore Razorpay competitors for better, more cost-effective options. Plus, Razorpay's fees for international payments don't help either. For example:

• The default payment gateway has higher charges, including around 3% for card payments, plus taxes.
• Payments routed through PayPal add another layer of fees.
• The final cost includes Razorpay's fee, PayPal's fee (if used), and GST.

All these charges translate into one big concern - low earnings. This is why it is important to explore Razorpay alternatives to find a simpler, more cost-effective platform that offers the best value for your money.

To select the right payment gateway, look at the payment flexibility, APIs, multi-currency support, security measures, etc.

1. Payment flexibility and APIs

Your payment gateway should adapt to your setup without tedious technical work. Look for open APIs and SDKs that let you add payment methods like UPI Autopay or tokenized cards quickly without long delays.

2. Multi-currency and cross-border support

If you sell internationally, you need a gateway that accepts multiple currencies. Some gateways just convert everything to INR, which can add hidden forex charges. The right gateway lets you accept payments in other currencies without losing money.

3. Security and fraud detection

You need to keep your business and your customers safe from fraud. The right payment gateway can help you do this automatically. Select one that comes with AI fraud checks, 3DS 2.0, and tokenization to prevent fraud.

4. Compliance and regulations

Choose a gateway that follows RBI rules, GST guidelines, and data storage laws. This keeps your business compliant and saves you from fines or legal issues later.

5. Transaction fees

Check the fee structure carefully. Look for transparent charges, including TDR (Transaction Discount Rate), international payment charges, and GST. This helps you know exactly what you're paying and avoid surprises later.

6. Settlement time

Faster settlements mean you get your money sooner. Most gateways deposit funds in 1 to 3 days, which helps with day-to-day expenses and cash flow.

7. Customer support

Payment issues can happen anytime. And, trust us, they can be stressful - for both you and your customers. Choose a gateway that gives you fast help when something goes wrong. Support through phone, chat, or email should be easy to reach.

There are several great alternatives to Razorpay that you can consider. For example, Xflow, PayU, Paytm Business, CCAvenue, Instamojo, PayPal Payments, Stripe Connect, Skydo, Wise, and Payoneer.

1. Xflow

Xflow is a payment solution built for Indian businesses and freelancers who work with overseas clients. It helps you receive payments in multiple currencies directly into India. Plus, it offers fast settlements and transparent fees.

Xflow also takes away the hassle of delays, hidden charges, and compliance, giving you more control over your cash flow. Its virtual bank accounts make collecting money from clients abroad as simple as sharing your account details.

Key features of Xflow:

Multi-currency support: Accept payments in over 25 currencies from almost anywhere in the world.

Fast settlements: Funds reach your Indian account within 1 business day.

Transparent FX rates: You see the exact INR amount you'll receive, with no hidden fees.

Automated compliance: Xflow generates eFIRA documents automatically for every withdrawal.

Digital onboarding: Sign up and start receiving payments fully online, with no branch visits.

Integration with tools: Connects easily with platforms like Zoho Books for smoother accounting.

Local payment options: Clients can pay via ACH, FedWire, or local bank transfers, reducing costs and delays.

Pros:

• Faster international payments compared to traditional banks.
• Clear and upfront foreign exchange rates with minimal hidden fees.
• Digital workflow saves time and avoids paperwork.
• Automated eFIRA handling removes compliance stress.
• Easy integration with accounting tools and marketplaces.

Cons:

• Limited currency options compared to some global competitors.
• Limited bank integrations for FIRC handling.

Pricing:

• Starter (for invoices under $3,500): $12 for invoices up to $2,000 and 0.6% for invoices above that.
• Growth (for invoices between $2,000 and $10,000): $20 for invoices up to $5,000 and 0.4% for invoices above that.
• Scale (for invoices exceeding $10,000): Custom pricing.

G2 rating: 4.9/5 / Sign up today!

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2. PayU

PayU is another popular Razorpay alternative. It is used by businesses across industries like e-commerce, SaaS, travel, insurance, and gaming. It offers a safe and reliable way to accept local and international payments.

PayU makes it simple for businesses - big or small - to collect payments while staying compliant. It also provides fraud checks, instant settlements, and one-click checkouts to speed things up and cut down on cart abandonment.

Key features of PayU:

Wide payment options: Accept over 150 payment options, including credit and debit cards, UPI, wallets, and net banking.

International payments: Supports payments in 130+ currencies across 150+ countries via Visa, MasterCard, and American Express.

Fast onboarding and settlements: KYC is done quickly, and settlements happen in T+2 days, with priority options available.

One-click checkout and recurring payments: Offers Visa Safe Click, Native OTP, and automatic recurring payments for subscriptions.

Invoices and payment links: Send GST-compliant invoices through email or WhatsApp.

Pros:

• No setup fees.
• Easy integration with websites and apps.
• Fraud protection and advanced encryption.
• Supports EMI, Buy Now Pay Later, and loyalty points.

Cons:

• KYC activation can take longer for certain business types.
• Delay in customer support.

Pricing:

• Domestic transactions (Visa, Mastercard, Net Banking, BNPL, wallets): 2% + 18% GST
• Diners, American Express, EMI, and international transactions: 3% + 18% GST
• Large enterprises: Custom pricing

G2 rating: 3.1/5

3. Paytm Business

Paytm is another well-known payment gateway in India. It is fast, reliable, and safe to use. The setup process is quick and usually takes under 30 minutes. This means you can start accepting payments right away. Paytm can handle heavy traffic as well. So even during busy hours, you don't have to worry about payments failing.

With Paytm, you can see all your payment data in real time, including reports, settlement updates, and refund status. And if you need to charge customers regularly, Paytm Subscriptions lets you automate those recurring payments easily.

Key features of Paytm:

Multiple payment methods: Supports debit and credit cards, net banking, UPI, Paytm Wallet, saved cards, Postpaid, no-cost EMIs, and 100+ other payment options.

Global reach: Accepts payments from over 200 countries and in 72+ currencies. The amount is settled in INR.

Quick checkout: Accelerates the checkout process through saved credentials, Paytm Wallet, and direct UPI integration.

Security: Comes with tokenization and end-to-end encryption and is PCI-DSS compliant.

Pros:

• No setup or maintenance fee.
• T+1 settlement cycle.
• Quick and easy online onboarding.
• Access to analytics for all payment gateways in one place.

Cons:

• Generic, non-personalized support.
• No option to access the Paytm Payments Bank account online.

Pricing:

• Small and medium businesses (for all transactions excluding Diners, American Express, and international transactions): 1.99% + 18% GST
• Small and medium businesses (for transactions via Diners, American Express, and other payment instruments): 2.99% + 18% GST
• Large businesses: Custom pricing

G2 rating: 4.6/5

4. CCAvenue

Next on our list of the top Razorpay alternatives is CCAvenue. It is used by many businesses across e-commerce, travel, education, government, and retail. It is a secure and easy platform that works well for both small and large companies. Plus, it supports both online and in-store payments.

With CCAvenue, you get a wide range of payment choices, along with strong security measures. It also has useful features like multilingual checkout to elevate customer experience. You can collect payments from customers globally while settling everything in INR.

Key features of CCAvenue:

Variety of payment methods: Supports over 200 payment modes, including cards, EMIs, net banking, UPI, and wallets.

Instant onboarding: Get started quickly through fully digital KYC.

Multi-currency support: Accepts payments in 27 major currencies and converts them to INR in real time.

Personalized checkout: Customize payment pages to match your brand and offer checkout in 18 languages.

Payment tracking: CCAvenue offers a mobile app to track payments from different sales channels in one place.

Pros:

• No setup fees and quick integrations using ready SDKs and APIs.
• Simple branding options like custom colors and logo uploads.
• Smart Retry helps customers recover failed payments.
• Mobile-friendly checkout.

Cons:

• Higher transaction fees for some payment methods.
• Annual maintenance charges apply after the first year.

Pricing:

• Popular: Zero setup fees + percentage-based charges depending on the payment method.
• Privilege: INR 5,000 setup fees + percentage-based charges depending on the payment method.

G2 rating: Not available

Trustpilot rating: 3.4/5

5. Instamojo

Instamojo is a well-known payment gateway in India, especially among freelancers, solopreneurs, and small companies. It is easy to set up and lets you start collecting payments within minutes. You don't even need a website to use it. The platform supports over 100 payment methods.

You can use it to accept payments through links, buttons, or a basic online store created directly on Instamojo. For many small brands, it works as an all-in-one solution for payments and basic online selling.

Easy payment collection: Collect payments using payment links, buttons, or by adding Instamojo to your website.

Fast and simple onboarding: Get started in a couple of minutes using just an email ID.

Online store builder: Create an online store without coding. Add products, set prices, and accept payments on the same platform.

Basic dashboard insights: Get insights into payments, trends, and pending amounts.

International payments: Supports global payments but only after KYC approval and special request.

Pros:

• Free to join with no setup or maintenance fees.
• Offers analytics for payments and trends.
• Secure platform with PCI-DSS compliance.
• Lets you build and personalize your online store.

Cons:

• No support for multi-currency payments.
• High annual fees.
• Limited support for international transactions.

Pricing:

Online store:

Lite: INR 0 per year + 5% + INR 3 transaction fee

Starter: INR 6,999 per year + 5% + INR 3 transaction fee

Growth: INR 14,999 per year + 2% + INR 3 transaction fee

Do-it-for-me: Available on request

Smart page:

Basic: INR 0 per year + 5% + INR 3 transaction fee

Pro: INR 12,999 per year + 2% + INR 3 transaction fee

Payment link:

Quick: INR 0 per year + 2% + INR 3 transaction fee

Smart: INR 4,999 per year + 2% + INR 3 transaction fee

G2 rating: Not available

Trustpilot rating: 1.4/5

6. PayPal Payments

PayPal is used by many international customers daily. This makes it a good choice for Indian freelancers and businesses that serve overseas clients. It is easy to set up, has a simple interface, and enjoys a strong brand recognition.

Since PayPal focuses only on international transactions for Indian merchants, it works best for those who earn in foreign currency. You can get paid from over 200 countries in various currencies, and everything gets settled in INR.

Key features of PayPal:

Global reach: Available in over 200 countries and supports 25 currencies.

Simple checkout options: Easily add the PayPal Checkout and payment buttons to your website or store.

Business management tools: Send invoices, track payments, manage disputes, and withdraw funds from one place.

Payment links: Share a personal PayPal.Me link to collect payments quickly without any technical setup.

Secure payments: Uses encryption, fraud monitoring, and PCI compliance to secure transactions.

Pros:

• Enjoys global popularity.
• 24/7 monitoring.
• Buyer and seller protection.
• Quick setup with minimal technical work.

Cons:

• Not available for domestic transactions in India.
• High fees and currency conversion markups.
• Some PayPal features offered abroad aren't available in India.

Pricing:

• Card processing: Starts at 2.89% + $0.29 per transaction
• PayPal and Venmo: 3.49% + $0.49 per transaction
• Pay Later: 4.99% + $0.49 per transaction
• Tap to Pay and POS: Starts at 2.29% + $0.09 per transaction

G2 rating: 4.4/5

7. Stripe Connect

Stripe Connect is designed for platforms and marketplaces that need to move money between customers and sellers. It helps you onboard users quickly, accept payments from many countries, and handle payouts - all without building everything from scratch.

It can also handle tasks that usually require a big internal team. For example, verifying users, checking for fraud, sharing reports, and following global payment rules. This makes it a good alternative if you want to operate in different countries without dealing with separate compliance rules.

However, Stripe's services are invite-only in India. This means you can't directly set up an account on their website. You'll first need to send an invite request.

Key features of Stripe Connect:

Fast onboarding: Get started in a few clicks. Stripe takes care of compliance and verification.

Easy money movement: Route money between multiple sellers, send refunds, and manage disputes easily.

Global payment support: Receive payments in over 135 currencies using more than 40 methods. The platform also takes care of taxes like VAT, GST, and sales tax.

Built-in dashboards: Add payment and payout dashboards to your product to see payment status, earnings, and refund history in one place.

Compliance support: Stripe handles KYC, AML checks, sanctions screening, identity verification, and PCI requirements.

Pros:

• Built for marketplaces, SaaS platforms, and gig apps.
• Handles complex regulatory needs smoothly.
• Custom payout options.

Cons:

• Needs more setup and technical skills than normal Stripe.
• Extra fees for routing and payouts.
• Inconsistent customer support.

Pricing:

• Stripe handles pricing (similar to Stripe's pricing + the following):

Onboarding, verification, and compliance: No fee

User dashboards and workflows: No fee

Funds routing and platform management: No fee

Monetization: Varies

Payouts: No fee

You handle pricing:

Onboarding, verification, and compliance: INR 150 for each active user per month

User dashboards and workflows: No fee

Funds routing and platform management: 0.25% of payout volume

Monetization: Varies

Payouts: INR 20 per payout

G2 rating: 4.4/5

8. Skydo

Skydo is a cross-border payment platform for Indian freelancers, solopreneurs, and small export businesses. It gives you virtual international bank accounts so international customers can pay you like a local. These accounts are available in major currencies, including USD, GBP, EUR, and other supported markets.

Skydo uses live mid-market rates with no markup. This means you get the same rate you see on Google, helping you keep more of what you earn. The platform also offers simple tools for invoicing, payment tracking, and basic analytics, which makes managing international income much easier.

Key features of Skydo:

Global virtual accounts: Get virtual accounts in major markets, including the US, UK, and Europe.

Live mid-market rates: Skydo converts your payments at the exact rate shown on Google.

Automatic FIRC/FIRA: Every transaction comes with instant, free FIRC/FIRA.

Direct INR settlements: Money received in your virtual accounts is settled straight to your Indian bank account in INR.

Built-in invoicing and tracking: Create invoices inside Skydo and track payments in real time.

Pros:

• Transparent fee structure.
• Live mid-market FX rates with no hidden markup.
• Free and automatic FIRC/FIRA for every payment.
• Dedicated support for each user.

Cons:

• Supports only inward remittances.
• Limited currency options.
• Not very suitable for bigger businesses.

Pricing:

• For payments up to USD 2,000: $19
• For payments between USD 2,001 and USD 10,000: $29
• For payments above USD 10,000: 0.3%
• For payments exceeding USD 100K/month: Custom pricing

G2 rating: 5/5

9. Wise

Wise is another great choice if you need a foreign account and want to manage money in multiple currencies. It offers multi-currency accounts that can receive, hold, and convert funds across several countries.

Wise is especially useful for Indian businesses working with global clients or vendors. This is because it lets you keep money in the original currency and convert only when you need to.

Key features of Wise:

Multi-currency account: Hold and manage money in 40+ currencies across major markets like the US, UK, Europe, and Australia.

Mid-market exchange rates: Conversions happen at the real mid-market rate with no hidden markup.

Hold funds without conversion: Wise lets you keep payments in the currency you received them in.

Supports both sending and receiving: You can use Wise to pay vendors as well as receive inward remittances from customers.

Pros:

• Uses the mid-market rate with clear, upfront fees.
• Lets you send, receive, and hold multiple currencies.
• Makes it easier to pay global vendors without converting funds every time.

Cons:

• FIRC documentation costs extra.
• Indian users can receive only up to $10,000 per invoice.
• High currency conversion fees.

Pricing:

• Sending money: Varies by currency, starting from 1.16%.
• Receiving payments: Free for domestic transfers (non-SWIFT/non-wire) and ACH transfers, varies for SWIFT and wire transfers depending on currency.
• Conversion fee: Varies depending on the currency
• eFIRC: USD 2.5 for every transfer

G2 rating: 3.9/5

10. Payoneer

Last on our list of the top Razorpay competitors for 2025 is Payoneer. It is widely used by freelancers, agencies, and e-commerce sellers because it makes receiving international payments simple.

Payoneer works like a multi-currency account. It lets you get paid in different currencies and withdraw the money directly to your Indian bank account. It also connects with major marketplaces like Amazon Pay and Fiverr.

Key features of Payoneer:

Multi-currency accounts: Payoneer gives you local receiving accounts in major currencies like USD, EUR, and GBP.

Easy withdrawals to India: Move your earnings to your Indian bank account in a few clicks.

Prepaid Mastercard access: Payoneer offers a prepaid card (in supported regions) that can be used for online purchases, ATM withdrawals, or offline spending.

Free digital FIRA: For Indian users, Payoneer provides FIRA documentation at no extra cost.

Marketplace compatibility: Payoneer works with platforms like Amazon Pay and Fiverr.

Pros:

• Free transfers between Payoneer accounts.
• Strong integrations with global marketplaces.
• Low withdrawal fees.
• Access funds through bank transfers or a prepaid card.
• Multi-currency accounts with broad global coverage.

Cons:

• Limited advanced payment features.
• More suitable for small businesses and freelancers.

Pricing:

• Payments from another Payoneer user: No fees.
• Payments sent directly by your clients: Fees vary by method, typically starting at around 1%.
• Payments from marketplaces or partner platforms: Charges differ based on the specific marketplace or network.
• Payments received through your global receiving accounts: Free for local currency deposits; a fixed fee or 1% applies for other currencies.

G2 rating: 3.2/5

To select the right Razorpay alternative for your business, understand your business model, transaction volume, target audience, and integration needs.

1. Business model

Do you offer subscriptions? Select a gateway that provides reliable recurring billing. If you mostly handle one-time purchases, a gateway with a quick checkout option can help reduce drop-offs.

2. Transaction volume

Every provider has its own fee structure. High-volume businesses usually benefit from tiered or volume-based pricing. Low-volume businesses often save more with flat-rate or pay-as-you-go fees. Make sure you understand how these charges affect your margins.

3. Target audience

Pick an alternative that supports the payment methods your customers actually use. For example, if you sell globally, you'll need local payment options in the countries you're serving. On the other hand, if you mostly deal with domestic customers, support for only cards, wallets, and bank transfers would suffice.

4. Integration needs

Make sure the gateway works well with the tools you already use. Look for plugins or integrations for your current platforms so you don't face technical problems.

The key to picking the right Razorpay alternative is knowing exactly what you need. Once you have this clarity, it'll become a lot easier to narrow down your options.

If you mostly work with international clients and want a simple platform for accepting international payments, Xflow can be a solid choice. It offers:

• Quick settlements
• Transparent fees
• Automated compliance

Sign up now to see how Xflow can help you manage cross-border payments with ease.