By Quick answer: Which payment gateway is best in India: Razorpay, Stripe, Cashfree or PayU?
- Razorpay — broad product suite; 2% standard domestic rate.
- Cashfree — strong payouts and fast settlements.
- PayU — long-established; wide enterprise use.
- Stripe — invite-only for Indian businesses.
- Negotiate — standard rates fall with volume.
Key takeaways
- Compare effective cost, not headline rates — include GST and payment mix.
- Success rates and checkout UX can matter more than fees.
- Payouts, subscriptions and UPI Autopay support vary by need.
- Keep a second gateway ready for redundancy as you scale.
- Stripe in India is for select, internationally focused businesses.
Payments are the one integration a business can't afford to get wrong. In India, the choice usually comes down to four names — Razorpay, Cashfree, PayU and Stripe. Three are built for the Indian market. The fourth, Stripe, now accepts Indian businesses only by invitation2.
Side by side
| Razorpay | Cashfree | PayU | Stripe | |
|---|---|---|---|---|
| Onboarding in India | Open | Open | Open | Invite-only2 |
| Standard domestic rate | 2% platform fee, no setup fee1 | Published on pricing page3 | Published on pricing page4 | Not applicable to most new Indian businesses |
| UPI, cards, netbanking, wallets | Yes | Yes | Yes | Limited for domestic |
| Subscriptions and UPI Autopay | Yes | Yes | Yes | — |
| Payouts | Yes | Yes (a core strength) | Yes | — |
| International cards | Up to 3%1 | Yes | Yes | Focus on international expansion |
Rates and features change; always confirm on official pricing pages and ask for a custom quote at volume.
What really matters
Success rate
A gateway that fails 2% more payments costs more than any fee difference.
Checkout experience
UPI intent flows, saved cards and fast OTP handling lift conversion.
Settlement speed
Cash flow matters — compare settlement timelines and instant options.
Support and uptime
How quickly do they respond when payments fail at 9 p.m. on a sale day?
Stripe in India today
Stripe moved to invite-only sign-ups in India in 2024 and still says it supports only a select number of businesses, focusing on those expanding internationally2. From 1 January 2026, new users onboarding to Stripe in India must also complete live video KYC under revised RBI payment aggregator rules5. Existing accounts continue to be supported.
How to choose
- Map your payment mix — UPI, cards, international, subscriptions, payouts.
- Request quotes — from at least two Indian gateways.
- Test checkout — on real phones and networks.
- Check settlement and reconciliation — reports your finance team needs.
- Plan a backup gateway — once volume justifies it.
Key terms, defined
Payment gateway — service authorising online payments. MDR — merchant discount rate charged on transactions. Settlement — when collected money reaches your bank. UPI Autopay — recurring payments via UPI mandates. Payout — sending money from your business to others.
Frequently asked questions
What are Razorpay's charges?
Razorpay's standard plan charges a 2% platform fee per successful domestic transaction across cards, UPI and netbanking, up to 3% for international cards, with no setup or annual maintenance fee. GST of 18% applies to the fee.
Can Indian businesses sign up for Stripe?
Stripe is invite-only in India. New Indian businesses must request an invite, and Stripe says it supports a select number with a focus on international expansion.
Which gateway is best for subscriptions?
Razorpay, Cashfree and PayU all support recurring payments, including UPI Autopay and card mandates. Test mandate flows and failure handling before choosing.
Which gateway is best for payouts?
Cashfree and Razorpay both offer strong payout products for paying vendors, sellers and users. Compare APIs, limits and fees for your volume.
Is UPI free for merchants?
UPI person-to-merchant payments carry zero MDR, but gateways typically charge a platform fee for processing them.
Should I use more than one gateway?
At scale, yes. A secondary gateway protects you during outages and lets you route payments to whichever performs best.
Sources
- Razorpay — Pricing
- Stripe Support — Stripe accounts are invite-only in India
- Cashfree Payments — Pricing
- PayU India — Pricing
- Stripe Support — Video KYC for India onboarding
- Checked October 23, 2026. Figures that change — fees, salaries, prices — are reviewed every six months; if something is out of date, tell us.
Where to go from here
- Payment gateway integration in apps — how to implement
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