| Feature/Criteria | Razorpay | Paytm Payment Gateway | Cashfree Payments |
|---|---|---|---|
| Founded | 2014 | 2010 | 2015 |
| Supported Payment Methods | UPI, Cards, Netbanking, Wallets, EMI | UPI, Cards, Netbanking, Wallet, EMI | UPI, Cards, Netbanking, Wallet, EMI |
| Settlement Time | T+2 working days | T+1 working day | T+1 working day (can be instant) |
| International Payments | Yes (via activation) | Limited (only for select merchants) | Yes (with approval) |
| Payout/Banking Solution | RazorpayX | Yes (limited) | Yes (Cashfree Payouts) |
| Recurring Payments | Yes (Subscriptions) | Yes (Auto-debit) | Yes (with Mandate/Subscriptions) |
| No Website? | Payment Links, Payment Pages | Payment Links, QR Codes | Payment Links, QR, WhatsApp Checkout |
| Ease of Integration | Excellent (API-rich & Dev-friendly) | Easy (but UI slightly older) | Easy and lightweight APIs |
| Plugins/Platforms | Shopify, WooCommerce, Magento, etc. | Shopify, Magento, custom integrations | WooCommerce, Shopify, etc. |
| Support | 24/7 Email + Chat | Ticket-based, limited support timings | Email, Chat, Phone (Good turnaround) |
| Dashboard Interface | Modern, data-rich | Functional, but less advanced | Clean and straightforward |
| Pricing (Domestic) | 2% for cards, wallets, netbanking; 0% UPI | 1.85%–2.5% (depends on method) | 1.75%–2% (low cost for UPI and cards) |
| Chargeback Support | Yes (well-handled with panel) | Yes | Yes |
| Developer Tools | Strong API + SDKs + Webhooks | Basic API | API + Ready libraries + Webhooks |
🔍 Payment Gateway Comparison: Which One Should You Choose?
- Payment Gateway Comparison: Choose Razorpay if you want a full-stack solution with developer-friendly APIs, subscriptions, and powerful analytics. Choose Paytm if your customers are heavy Paytm Wallet users or if you’re targeting more casual mobile UPI users.
- Choose Cashfree if you want fast settlements, affordable pricing, and strong payout automation features.
🏁 Final Verdict
| Business Type | Best Option |
|---|---|
| Startups & Developers | Razorpay |
| Small Shops & QR Pay Use | Paytm |
| Low-cost Bulk Payouts | Cashfree |
| SaaS & Recurring Billing | Razorpay or Cashfree |
| NGOs / Freelancers | Razorpay (Payment Links) |
Here’s a pricing breakdown chart comparing Razorpay, Paytm, and Cashfree for domestic transactions in India (as of 2025):
💰 Payment Gateway Pricing Comparison (India – 2025)
| Payment Mode | Razarpay | Paytm | Cashfree |
|---|---|---|---|
| UPI (B2C Transactions) | 0% (under ₹2,000)* | 0% | 0% |
| Credit Cards (Visa/Master) | 2% + GST | 1.85%–2.5% + GST | 1.90% + GST |
| Debit Cards (RuPay) | 0% (under ₹2,000)* | 0% | 0% |
| Net Banking | 2% + GST | 1.85%–2% + GST | 1.75% + GST |
| Wallets (Paytm, PhonePe) | 2% + GST | 1.85%–2% + GST | 2% + GST |
| EMI / BNPL | 2%–3% + GST | 2.5%–3.5% + GST | 2.5%–3% + GST |
| International Cards | 3% + GST | Limited support | 3.5% + GST (on request) |
| Settlement Charges | ₹0 (T+2) | ₹0 (T+1) | ₹0 (T+1) or Instant ₹1–5 |
| Refund Charges | ₹0 | ₹0 | ₹0 |
| Chargeback Fee | ₹300–₹500 per case | ₹250–₹500 per case | ₹300 per case |
💡 *UPI transactions under ₹2,000 may be free of MDR for some business categories, depending on RBI norms and updates.
Additional Notes:
- All platforms charge GST (18%) over the MDR (Merchant Discount Rate).
- Some platforms offer custom pricing for high-volume merchants—negotiable based on monthly transactions.
- Razorpay and Cashfree support instant settlements with a small fee (~₹1–5/transaction).
Here’s a simple Fee Calculator Template (you can use it in Excel, Google Sheets, or manually):
📊 Payment Gateway Fee Calculator Template
💼 Input Fields:
| Field | Your Input |
|---|---|
| Sale Amount (₹) | e.g., 1000 |
| Payment Method | e.g., UPI / Credit Card |
| Gateway (Razorpay/Paytm/etc.) | Select |
🧮 Fee Breakdown Table:
| Gateway | Payment Method | MDR (%) | GST (18%) | Total Fee (₹) | Net Amount You Receive (₹) |
|---|---|---|---|---|---|
| Razorpay | UPI | 0% | 0 | 0.00 | 1000.00 |
| Razorpay | Credit Card | 2% | 0.36 | 20.36 | 979.64 |
| Paytm | Net Banking | 1.85% | 0.33 | 18.83 | 981.17 |
| Cashfree | Wallet | 2% | 0.36 | 20.36 | 979.64 |
🧾 Formula Reference:
- Total Fee = Sale Amount × MDR
- GST = Total Fee × 18%
- Net Amount = Sale Amount − (Fee + GST)
