PAYMENT

GATEWAY
REPORT
2017
GUIDE TO ONLINE PAYMENTS FOR
BUSINESS OWNERS IN INDIA

8105562012

www.pixelmattic.com

Koramangala, Bangalore

hello@pixelmattic.com
Contents

1. Introduction to online payments

2. Different modes of online

payments in India

3. How do online payments work

for a business

4. How to choose the right payment

gateway

2017
5. List of online payment gateways

6. List of WordPress plugins for

payment gateways

7. How to apply for a payment

gateway

8. Process of payment gateway

integration with WordPress and/or

other systems
 1. Introduction

Without the creation of a secure method for moving sensitive

data the ability to conduct non face to face commerce could not

have happened. Today there are many gateway providers serving

up diverse solutions to its customers.

Especially after the ban on Rs 500 and Rs 1000 old notes, people are looking into

using digital payment methods for their money transactions. Digital finance has

great potential to improve sales and business for Indian merchants and

consumers, but only a few are aware of this. In fact, only 40% of those merchants

who don’t take debit cards were aware they could do so.

Mobile shopping and making online payments is gaining ground as the technology

advances. This mandates product and service vendors to offer mobile payment

capability to their customers. Moreover, it becomes critical to have a payment

processing gateway that runs smoothly within your mobile app.

A payment gateway isn’t a comprehensive solution for online payment processing.

It’s just one element of a full-fledged eCommerce site that allows you to accept

and process credit cards, debit cards and other forms of payment online. Every

time you purchase something online with a credit card, your information has to be

verified, the charge authorized and funds transferred. Transmitting data to

authorize a transaction is the job of a payment gateway.

Image Source: Freepik

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A payment gateway can be integrated with most websites and

virtual shopping carts to streamline online credit card processing.

A shopping cart is usually used before the payment gateway.

This function allows your customers to pick and choose the various items

they want to buy from your website, including options such as size, color, etc.

And at the checkout, the shopping cart totals the items, adds tax and

shipping and collects the customer’s shipping and billing information.

Once the shopping cart process is completed, the payment gateway encrypts

and store sensitive data, including credit card numbers, ACH account

numbers, CVV and CVV2 information. Sensitive data such as Credit Card

Numbers need to be protected from any fraudulent activities.

And since security is an integral component of a payment gateway process,

the card associations have created a set of rules and security standards

which must be followed by anyone with access to card information. This set of

2017
rules and security standards is called the Payment Card Industry – Data

Security Standard (PCI-DSS or PCI).

For more protection, submitting an order online is usually completed using an

HTTPS protocol, which securely communicates personal information through

the parties involved in the Transaction. This ensures that sensitive information

is kept safe while a payment is processed.

A payment gateway service company has gone through the extensive and

lengthy process of getting approved to communicate with payment

processors. They reduce a business’ liability and ensure that a payment

gateway process is safe and secure.

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 2. Different modes of online

payments in India

Credit cards – The easiest form of electronic money that is available and most

widely used today. There are several million credits cards that are being used

to make online payments in India. Many international sites and mobile

commerce sites allow you to pre-store your credit card number securely so that

you don’t have to key in the number each time. Currently, the largest user base

in e-commerce uses credit cards for payments.

2017
Image Source: Freepik

Debit card – The second largest e-commerce payment medium in India are

Debit Cards and Netbanking. Very often, for customers who want to stay within

their spending capacity, paying for things online using a debit card proves to

be a preferred choice. With the debit card, one can only pay for purchased

goods with the money that already exists in the current or savings accounts as

opposed to the credit card where the amounts that the buyer spends are

accumulated and have to be paid for as a bill at the end of the billing period.

Netbanking – Another easy way to make payments for online transactions. It

uses a similar method to the debit card of paying from money that exists in the

user's current or savings account but net banking does not require the user to

have a card for the payment purposes. While completing the purchase the

consumer needs to put in their net banking id and pin.

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Mobile Money – Out of India’s 1.2 billion people, only a small percentage have

bank accounts. Amongst that massive unbanked population, many hundreds of

millions have mobile phones, and for them, mobile money is likely to be hugely

beneficial. However, mobile money would be convenient to buy a movie ticket

or pay your utility bills on your phone, where otherwise you might have to key in

your entire credit card number, CVV number, etc, every time you make a

payment. It’s meant for transactions between Rs 50 – Rs 500 to buy things like

games, music, ebooks, and virtual goods in games, and where people may not

want to use credit or debit cards.

In India, this is a developing payment option and still evolving in terms of

regulations and guidelines.

2017
Prepaid Cards – this is a relatively new and fast-growing payment method.

Typically a consumer may buy or be gifted a prepaid card that can be used

online. Usually, this would be for a particular brand or for a retailer. Some

online retailers have their own gift cards which are sold to their customers, who

in turn may use it for themselves or as give them as gifts. Gift cards have their

own authentication system and this can vary.

Reward Points – Some other more indirect ways of online payments are rewards

points. On certain things that are purchased by a person, a number of rewards

points will be awarded which will get added to the buyer’s account. In the next

transaction, the buyer can choose to pay for their next purchase using the

accumulated rewards points, which will

replace what they would otherwise be paying as money.

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 3. How do online payments

work for a business

3.1 WHAT IS A PAYMENT GATEWAY?

A payment gateway facilitates a payment transaction by the

transfer of information between a payment portal (such as a

website, mobile phone or interactive voice response service) and the

front end processor or an acquiring bank.

In simple steps, a payment gateway:

1. Captures the credit card transaction

2. Encrypts the transaction information

3. Routes it to the credit card processor and then;

4. Returns either an approval or a decline notice.

This way, your customer knows immediately whether or not their

credit card was approved.

This is a seamless process and a customer does not directly interact

with the payment gateway as data is forwarded to the gateway via

your shopping cart and a secure connection.

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3.2 HOW DOES IT WORK?

The payment gateway process kicks off when a customer orders a product from a

payment gateway-enabled merchant. The payment gateway performs a variety of

tasks to process the transaction.

1. A Customer Places An Order

Either by clicking ‘Buy’ or an equivalent option or by entering the card details on

the merchant website or application.

2. Encryption of Information and Forwarding to Merchant’s Site

If the order is via a website, the customer’s web browser encrypts the information

to be sent to the merchant’s web server. And in other cases, this is done via the

Secure Socket Layer (SSL).

3. Forwarding Information from Merchant’s Site to the Payment

Gateway. This is an SSL encrypted connection from the merchant’s server site to

the payment server hosted by the payment gateway.

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4. Payment Gateway sends transaction information to the

Payment Processor used by the Merchant’s Acquiring Bank

5. Payment Processor forwards transaction Information to the Card Association

The card association also acts like the issuing bank and directly provides a

response of approval or declination to the payment gateway.

6. The Card Association receives the authorization request, verifies the request

and sends a response back to the processor.

It conveys the success or failure of the request as well as the reason.

7. Payment Processor forwards this information to the

Payment Gateway.

8. Payment Gateway forwards it to the Merchant Website.

This process is known as Authorization and it takes about 2-3 seconds, altogether.

The merchant then fulfills the order and the above process can be repeated.

9. At the end of the day, the payment gateway performs a process known as

Settling.

During which it groups all your transactions together and sends them off to the

Merchant’s Acquiring Bank in a single batch via the Processor for Settlement.

10. Payment gateways also record your transactions and allow you to

view them using the payment gateway report facilities. This

completes a single payment gateway process.

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 4. How to choose the right

payment gateway

Choosing the right gateway takes a little time, but we’ve found a few ways to

narrow down your options and make the process of choosing a little easier. Let’s

explore how you can find the best payment gateway so you can get back to

focusing on what matters more.

4.1 FEATURES

The first and foremost requirement for any service that collects payments

are adherence to Payment Card Industry (PCI) compliance standards. The

PCI Security Standards Council is a global forum for the ongoing

development, enhancement, storage, dissemination and implementation of

security standards for account data protection. Anyone who also accepts

2017
credit card payments needs to comply with PCI-DSS rules.

Regardless of the many other features they provide, the payment gateway

integration process has to be fast and easy. There are still many solutions

that require weeks of setting up before you can start charging your

customers.

Not all payment gateways support an authenticated tokenization process,

which is required when accepting payments from a mobile app. And if this

tokenization functionality is not provided by your Gateway API then you will

have to handle the process yourself.

A payment gateway should be chosen according to the company’s long-

term business goals and transaction volume. It’s even more important to

study the features of all payment gateways carefully before making any

decision. Small business and startups look for the Cheapest Online

Payment Gateways if their transaction volumes are low.

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If you’re a business having considerably low transaction volumes and low

average transaction values, then you should probably look towards

working with the most economical and cheapest online payment

gateways that suit your business needs.

Businesses that have expanded their reach in different countries and

established customer relationships in many parts of the world must have

Payment Gateway with Multi-Currency Support. Multi-Currency Payment

Gateways let merchants offer their international customers the ability to

pay in the currency they know best – their own.

Digital wallets are the new future of payment technologies. The days of

using liquid cash are coming to an end. Payment gateways also offer

digital wallet facility and this is an added feature that you can expect

from one.

You may also want to consider the purchasing price of the gateway if

2017
there is one. Free gateways are awesome, but they may have higher

fees. Nearly all payment gateways have per-transaction fees or monthly

usage charges. The gateways you evaluate may charge one or both, or

may even scale their fees depending on how much you use it.

If your business will be offering subscriptions or giving customers access

to content via paid memberships, you’ll want to check if the gateways

you’re considering support automatic payments for recurring plans. If

they don’t, your customers will need to renew manually each month,

which can be a huge pain.

Application process and time frames are also something you need to

enquire before choosing a payment gateway. It is important to find out

how long the application process with a new payment gateway will take.

And once approved, how long will it be before you’re able to process

payments from your paying users.

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Some payment gateways impose specific time frames for contracts, such

as a one-year contract. If there are time frames specified by a contract,

you’ll also want to find out if there are early termination or cancellation

fees you’ll have to pay if you become unhappy with the payment

gateway.

Many payment gateways also offer a card updater feature for free or an

additional fee, which automatically updates your customer’s credit card

information when a new card is issued. That translates into a reduction

of lost revenue due to failed payments from changed or expired credit

cards. In addition to saving you money, the card updater is convenient

for your customers.

Some payment gateways offer advanced fraud protection tools that go

beyond CVV and AVS. Every business is going to lose money to fraud,

but fraud prevention tools help you reduce your losses. So, be sure to ask

potential payment gateways about all the fraud prevention tools they

provide.

2017
If you chose to leave your payment gateway, would you be able to take

your customers’ data with you? Because if you choose to leave one

where you don’t own your customer data, you would need to ask your

paying customers to provide you their billing details all over again to set

up with the new gateway. And this can get really troublesome.

When reviewing potential payment gateways, find out the type of

support they offer. While your startup may not need a payment gateway

that provides 24/7 live support, you do want to make sure you can speak

to a live support person when needed.

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4.2 HOSTED vs INTEGRATED

Hosted Payment Gateways

If you’ve ever used PayPal, you’re already familiar with a hosted payment

gateway. Hosted gateways redirect your customers to the payment processor’s

platform to input their payment information.

The biggest perk of this setup is that the offsite provider is responsible for all PCI

compliance and data security. This is one less thing for you to worry about, and

the major hosted processors will have information on their compliance and

security methods available if you need it.

There are some potential downsides, however. In some countries, offsite payment

processors aren’t trusted; in others, they’re actually preferred.

Also, the experience of directing a customer, off your website can sometimes

feel jarring, and can potentially harm your conversion rates if it’s not a gateway

they know and trust.

The bottom line: hosted gateways are easy to set up and are fantastic for new

stores, but can potentially hurt conversion rates if customers aren’t familiar with

the processor.

Integrated Payment Gateways

An integrated payment gateway connects to your eCommerce website via the

gateway’s provided API. The biggest advantage of this is that customers never

have to leave your store to input payment information and submit orders — it’s a

smooth, seamless experience.

The downside of this is that you’ll need to have the ability to integrate with the

gateway you choose. Many eCommerce platforms are set up to smoothly

integrate with a variety of gateways via API, but if you choose one that isn’t

supported “out of the box,” you might have to do some custom programming to

get it functioning properly.

Integration also makes you responsible for securely storing cardholder data and

complying with your country’s rules and regulations, including the PCI Security

Standards. A lack of security could put your customers at risk, or subject your

store to an audit.

The bottom line: gateways integrated via API offer a seamless ordering

process, but can be more difficult and time-consuming to set up, and

will add one more responsibility to your plate.

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4.3 DOING THE MATH

As you continue to narrow down your choices, try to be conscious of how

each gateway will appear on your store, and what kind of experience it

will offer your customers.

Think about the number of steps a shopper will have to take to get from

their cart to a confirmation screen. If you’re asking too much of them, they

might abandon their purchase.

Most payment gateway providers either have a demo on their website, or

will be happy to show you a demo if you ask. This is a good way to get an

idea of how the process will actually function on a store like yours, what

screens customers will see, and what information will be requested.

Any payment gateway imposes 3 kinds of fees on a merchant:

1. Setup Fees – A one-time amount you pay to start receiving the services

of the payment gateway

2. Annual Maintenance Fees – A maintenance charge for the operational

costs of a Payment Gateway

3. Transaction Fees – Amount deducted per transaction through the

payment gateways

To understand what the merchant is liable to pay the payment gateway in a

course of 1 year, let’s take an example of Rinkler Private Limited, a small

enterprise with an average monthly transaction of 500 products and an

average transaction value of Rs. 1000/-.

Let’s calculate the Average Yearly Income of the company,

Average Annual Income = Average Transaction Value * Average

Transaction Volume* 12

1000*500*12 = Rs. 60,00,000

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The Complete Fees to a Payment Gateway for a year would be,

Payment Gateway Fees Per Year =

Setup Fees + Annual Maintenance Fees + Transaction Rate% (Average

Transaction Value* Average Transaction Volume Per Month*12)

Suppose Rinkler Private Limited chooses PayUMoney, with a transaction rate

of 2%, then Rinkler is liable to pay:

SF + AMF + TDR(500*1000*12) = 0 + 0 + 2%(500*1000*12) =

Rs. 1,20,000 Per Year

You have plenty of things to focus on at this stage, so don’t be afraid to make

the choice that fits your budget right now — you can always scale it up later if

you need to, once you have more time or resources available.

2017
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 5. List of payment gateways

5.1 Quickest Payment Gateway Integration Solutions

In India

1. EBS - Go Live in 24 Hours

Setup Fees: Rs. 4799 – Rs 23999

Annual Maintenance Fees: Rs. 2400

Transaction Fees: 1.25% – 3.75%

Features: Multicurrency gateway, Mobile Integration, Auto Retry,

Smart Routing, Multi-Lingual Payment Page, Autopay, Turbo Checkout,

IVR System, Multiple user access, single admin and much more.

Major Clients: Babyoye, Firstcry, Snapdeal, Sikkim tourism

2. PAYTM - Go Live Within Hours

Setup Fees: Nil

Annual Maintenance Fees: Nil

2017
Transaction Rate: 2.5%

Features: 100 Million+ Base of paytm wallet, super user experience

with wallet facility, low user drop, Developer Friendly APIs, SDKs,

Plugins for all major platforms, Marketing Tools, Fast Onboarding.

Major Clients: Foodpanda, bookmyshow, gaana.com, Domino’s, uber,

makemytrip, Jabong, PepperTap, taxiforsure, SpiceJet, OYO, Meru.

3. INSTAMOJO - Collect your first payment in 3 minutes

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Rate: 2% + Rs. 3

Features: Works with or without a website, 128-bit SSL encryption.

Payments processed on PCI-DSS compliant servers, Honest and transparent

pricing, quick and reliable transfers, low transaction fee.

Major Clients: Snapdeal’s app Shopo, Online Prasad, UrbanClap,

YourStory, Next Big What

For more number of payment gateways with the quickest setup time,

read our post here!

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5.2 Top Payment Gateways For Mobile Apps

Setup Fees: 0 for Startup Pro Plan, Rs.

30,000 for Privilege Plan

Annual Maintenance Fees: Nil

Transaction Fees: From 1.99% + Rs.3 to

2.99% + Rs.3

Setup Time: 3 – 6 Days Setup Fees: Nil

Major Users: MakeMytrip, ClearTrip, Annual Maintenance Fees: Rs.4900,

Naukri, AirAsia, Yatra, redBus, Myntra additional fee of Rs 2800 for

and Snapdeal international payments

Mobile App Platform: Android, Windows, Transaction Fees: From 1.99% + Rs.3

and iOS Setup Time: Start Receiving payments

after two-step signup and

documentation

Major Users: Emirates, Faasos, TinyOwl,

Setup Fees: from Rs. 4900 and LocalBanya, Etihad, Airtel, PVR Cinemas,

go up to Rs. 29000 Healthkart

Annual Maintenance Fees: Rs. Mobile App Platform: Android & iOS

2400

Transaction Fees: between 2.20%

to 3.90%

Setup Time: 5 – 7 Days

Setup Fees: Nil
Major Users: Snapdeal, Jabong,
Annual Maintenance Fees: Nil
Bookmyshow, Ola, Cleartrip,
Transaction Fees: 2%
Redbus, GoIbibo, Zomato
Setup Time: 5 – 7 Days
Mobile App Platform: Android &
Major Users: ShopClues, Pepperfry, olx,
iOS
Freecharge

Mobile App Platform: Android & iOS

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Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: 2% + Rs. 3

Setup Fees: Starter – Rs. 10000,
Setup Time: Instant
Express – Rs 30000
Major Users: Snapdeal’s app Shopo,
Annual Maintenance Fees: Starter
Online Prasad, UrbanClap, YourStory,
2400 (From the second year), Express
Next Big What
– Nil
Mobile App Platform: Android
Transaction Fees:

3% for Monthly Transaction Value up

to Rs.5 lakhs

2.5% for above Rs. 5lakhs

Setup Time: 2 Days

Major Users: disney, explara, home

Setup Fees: From Rs.4799 to Rs.
shop 18, Hungama, jabong
23999
Mobile App Platform: Android and iOS
Annual Maintenance Fees: Rs. 2400

2017
Transaction Fees: From 1.25% to

3.75%

Setup Time: 1 Day

Major Users: BabyOye, Snapdeal,

FirstCry
Setup Fees: Nil
Mobile App Platform: Android & iOS
Annual Maintenance Fees: Nil

Transaction Fees: 2%

Setup Time: 2 – 3 Days

Major Users: chai point, roadrunnr,

Setup Fees: Nil papa johns, inner chef, knowlarity

Annual Maintenance Fees: Nil Mobile App Platform: Andriod &

Transaction Fees: Customized iOS

Setup Time: Instant

Major Users: MakeMyTrip, redBus,

Snapdeal, Bookmyshow, Freecharge,

Mobikwik, foodpanda, Swiggy, Zoomcar,

Spi Cinemas and Voonik

Mobile App Platform: Android

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 Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: Domestic Credit +

Setup Fees: Nil
Net Banking – 2.45% + INR 2, Domestic
Annual Maintenance Fees: Nil
Debit Cards – 1.25% + INR 2 ,
Transaction Fees: Domestic Credit +
International Cards – 2.75% + INR 2
Net Banking – 2.45% + INR 2,
Setup Time: A few days
Domestic Debit Cards – 1.25% + INR
Major Users: jaiboot, essentially, flower
2 , International Cards – 2.75% + INR
shop
2
Mobile App Platform: Android & iOS
Setup Time: A few days

Major Users: jaiboot, essentially,

flower shop

Mobile App Platform: Android & iOS

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: 3.9% +

$0.45

Setup Time: Less than 30 Setup Fees: Nil

minutes Annual Maintenance Fees:

Major Users: Shopify, 3D Cart, Nil

aMember, Avactis, Transaction Fees: 4.4% +

BigCommerce, CS-Cart, US$0.30 + Currency

CubeCart, Ecwid, FreshBooks, conversions charges

Magento, Magic Members, Setup Time: 5 Days

nopCommerce Major Users: shopmatic,

Mobile App Platform: Android freshbooks, shopify, WHMOS

& iOS Mobile App Platform:

For more information on payment

Android & iOS

gateways for mobile apps,

read our blog post here!

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5.3 Indian Payment Gateways With Digital Wallet Support

1. Paynimo

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: Variable

Time to Setup: >3 days

Settlement time: T+2 days

Wallets Supported: Paytm, Mobikwik, ebs, PayU etc

Major Users: Bookabus, eBus India, Rotomac, Mebelkart.com, BatteryBhai.com

2. ePaisa

Setup Fees: 0 – 3500 INR

Annual Maintenance Fees: 299 – 999 INR per month

Transaction Fees: Debit cards 0.75 – 1.00%, Credit Cards – 1.75%, Wallets –

2.00%, Payment gateway 2.25%

Time to Set Up: 3 days

Settlement Period: T+2 days

Wallets Supported: Freecharge, Mobikwik, Ola Money Citrus, Payzapp, Ola

Money, Pockets,

Major Users: Mega cabs, T’POT, DC design, Delhivery, Dubli, Kinche, Cafeccino

Mobile App Integration: Android and iOS

3. Juspay

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: Customized for each Client

Time to Set Up: Instant

Wallets Supported: Paytm, Mobikwik, Freecharge, Ola Money, PayUMoney

Major Users: makemytrip, bookmyshow, amazon.in, snapdeal.com, airtel,

foodpanda, swiggy, freecharge, zoomcar, yatra.com, myntra, Voonik, Zivame

Mobile App Integration: Android and iOS

Click here for more payment gateways with digital wallet support

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5.4 Cheapest Online Payment Gateways In India

Setup fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: 2%

Setup Time: 5 – 7 days

Settlement Time: T + 2 Days Setup fees: Nil

Major Clients: ShopClues, Pepperfry, Annual Maintenance Fees: Nil

olx, Freecharge Transaction Fees: 2% + Rs. 3

Setup Time: Instant

Settlement Time: 3 Days

Major Clients: Snapdeal’s app

Shopo, Online Prasad,

UrbanClap, YourStory, Next

Big What

Setup fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees: Variable

Setup Time: 3 days

Settlement Time: T + 2 Days

Major Clients: Bookabus, eBus India,

Setup fees: Nil
Rotomac, Mebelkart.com,
Annual Maintenance Fees: Nil
BatteryBhai.com
Transaction Fees: 2%

Setup Time: 2 – 3 Days

Settlement Time: T + 3 Days

Major Clients: chai point,

roadrunner, papa johns, inner chef,

knowlarity

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 Setup fees: Nil

Annual Maintenance Fees: Nil

Setup fees: Nil
Transaction Fees: 2.5%
Annual Maintenance Fees: Nil
Setup Time: 7 Days
Transaction Fees: Customized
Settlement Time: T + 2 Days
Setup Time: Instant
Major Clients: Livepro
Major Clients: MakeMyTrip,

redBus, Snapdeal,

Bookmyshow, Freecharge,

Mobikwik, foodpanda, Swiggy,

Zoomcar, Spi Cinemas and

Voonik Setup fees: Nil

Annual Maintenance Fees: Nil

Transaction Fees:

<= Rs. 2000 0.75%

> Rs. 2000 1.00%

Setup fees: Nil Settlement Time: T + 2 Days

Annual Maintenance Fees: Nil Major Clients: Bluestone,

Transaction Fees: 1.5 – 5% Babyoye, Makemytrip, Lenskart,

Setup Time: Immediately Caratlane, and Zansaar

Settlement Time: T + 2 Days

Read our blog post for the list of
Major Clients: state electricity
cheapest payment gateways!
boards, airtel mobile services,

reliance communication, Kotak life

insurance

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5.5 Multi-Currency Payment Gateways In India

1. Airpay

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fee: 2.5% or 2500/quarter

Settlement Time: T + 2 days

WordPress Plugin: Airpay

2. Amazon Payments

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fee: 1.95%

Settlement Time: T + 2 Days

3. CCAvenue

Setup Fees:

Nil – Startup Pro Plan

30,000 INR – Privilege Plan

Annual Maintenance Fees: Nil

Transaction Fee Range: 1.99% + Rs.3 – 2.99% + Rs.3

Settlement Time: 1 Week (Amount > 1000)

WordPress Plugin: CCAvenue

4. Crisp Infocare

Setup Fees: 45000 – 70000 INR

Annual Maintenance Fees: Flexible

Transaction Fee: Flexible

Settlement Time: 1 Week

5. EBS

Setup Fees: 4799 – 23999 INR

Annual Maintenance Fees: 2400 INR

Transaction Fee Range: 1.25% – 3.75%

Settlement Time: 2 – 3 days

WordPress Plugin: EBS

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6. Paypal

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fee: 4.4% + US$0.30 + Currency conversions charges

Settlement Time: 24 Hours

WordPress Plugin: Paypal

7. PaySignet

Setup Fees: 5000 INR

Annual Maintenance Fees: 2500 – 8400 INR

Transaction Fee: 300 – 500 INR

Setup Time: Less than an hour

8. QPay India

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fee: Negotiable

Credit Cards between 2.25% – 5.5%

Debit Cards between 1.25% – 3%

Net banking – 2%- 3%

Settlement Time: T + 2 Days

9. Secure365

Setup Fees: Flexible

Annual Maintenance Fees: Flexible

Transaction Fee: Flexible

Settlement Time: T + 2 Days

Setup Time: 1 Week

10. Telr

Setup Fees: Nil

Annual Maintenance Fees: Nil

Transaction Fee:

Domestic Credit + Net Banking – 2.45% + INR 2

Domestic Debit Cards – 1.25% + INR 2

International Cards – 2.75% + INR 2

WordPress Plugin: Telr

Click here for many more multi currency payment gateways.

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 6. List of WordPress plugins for

payment gateways

Airpay 2Checkout Amazon Payments

Atom Paynetz CCAvenue CCNow

CitrusPay EBS Instamojo

Paytm PayUBiz PayUMoney

Payza Paypal India Razorpay

SignetPay Zaakpay Telr

Click Here For The List Of Hosted eCommerce Solutions In India

Settlement Period Of Payment Gateways In India

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( Payment Gateways )

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 7. How to apply for an online

payment gateway

The documents needed, differ for different kind of companies. However, most

of the KYC documents remain the same. But here are a list of the main

documents, usually required to apply for an online payment gateway.

7.1 Document Requirements

1. Photo ID Proof (Signing Authority )

2. Office Address Proof

Own Property - Electricity bill

Rent Property - Rent Agreement copy & Electricity bill

Bank Account - Statement OR Passbook

3. Cancelled Cheque - For the bank account into which you will be receiving

2017
payments.

4. Financial Proof - Current Account statements for last 12 months with Bank

seal and Bank Logo. OR Audited Balance Sheet with P & L Account

statements for last 2 years.

5. Additional Documents -

SOLE PROPRIETOR

Registration certificate (in the case of a registered concern)

Certificate issued by the Municipal authorities under Shop & Establishment Act

Sales and income tax returns

CST/VAT certificate

Certificate/registration issued by Sales Tax/Service Tax/Professional Tax

authorities.

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PARTNERSHIP/LLP FIRM

Certificate of registration (for registered partnership firms only)

Copy of partnership deed

Copy of Pan Card of Partnership Firm

Board resolution applicable in case of LLP only (on letter head of LLP) a

resolution passed in favor of authorized signatory.

PUBLIC LIMITED/PRIVATE LIMITED

Memorandum / Articles of Association and Certificate of Incorporation.

(1st and Last 3 Pages)

List of Directors details from MCA Website.

Company Pan Card.

Board Resolution

OTHER (EDUCATION/GOVERNMENT/NGO)

Memorandum of Understanding / Certificate of registration (for

registered trust only) & Copy of Trust deed or Society Deed / Government

Certificate.

List of trustees / member/ authorized signatory certified.

Copy of Pan card of Trust.

Trust Resolution

7.2 Website Requirements

The website should contain the following information:

1. Name of the company

2. E-mail address

3. Phone numbers

4. P.O. Box

5. Office Address, Terms & Conditions, Return Policy pages

6. Functional shopping cart if it’s an ecommerce website

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 8. Process of payment

gateway integration with

WordPress and/or other systems

Step 1: Sign up with a PG by submitting documents

Step 2: Once approved, you will receive an integration kit and

merchant payment dashboard credentials.

Step 3: Share the PG details with your developer

Step 4: If the PG has an officially supported plugin for WordPress,

the developer will install it, configure with the merchant details

OR

If the Payment Gateway only provides a basic documentation, the

developer will write code to integrate the two systems. The

complexity of this integration will vary from project to project and

PG. (Note: The PG must provide allow PHP integration for it to work

with WordPress)

Step 5: Once the PG has been integrated, using the test

environment (dummy card details), the developer run a few test

cases for success and failure transactions, and share this report

with the PG.

Step 6: The PG will review these test details along with the website

and then approve the integration. Once approved, the payment is

switched from a test to a live environment and you can start

collecting payments

The entire process can take anywhere between 2 - 4 weeks. We,

therefore, recommend to our clients to kick start this conversation with

Payment Gateways during the initial stages of the website development.

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Click Here To Download Our

Research Data Sheet On

Payment Gateways

For More Details

Learn More From Pixelmattics' Other Books

Managing a Content How to Build a WordPress

Publisher's WordPress Website MemberShip Site Using

BuddyPress & WooCommerce

Case Study on WordPress

Performance Optimization

Complete Guide To Website Planning

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