A Payment Gateway was a much-needed solution in the early 2000’s because of increase in awareness
of internet and globalization. So, Elon Musk and co. Founded world’s first payment gateway named
PayPal. So, it was followed by ten’s of other companies opening up in this space. It soon became a
severe competitive marketplace.

In this article, we will be studying about top 5 international payment gateways that can be used
for sending and receiving payments across the globe with minimal fees and processing/transfer time.

Before making a deep-dive, let us make you understand about the whole concept of International
payment gateway.

What is a Payment Gateway?

A payment portal is an e-commerce benefit that processes charge card payments for on the web and
customary physical stores. Payment gateways encourage these transactions by exchanging critical
data between payment entryways, for example, web-empowered cell phones/sites and the front end

Payment gateways satisfy a crucial part in the e-commerce transaction process, approving the
payment amongst merchant and client. Famous payment gateways incorporate PayPal/Braintree, Stripe,
and Square.

Payment gateways versus Payment processors: what’s the distinction?

A payment processor breaks down and transmits transaction information. Payment gateways approve the
exchange of assets amongst purchasers and merchants.

How payment gateways function?

At the point when a client puts in a request from an online store, the payment portal plays out a
few errands to settle the transaction:

Encryption: The internet browser scrambles the information to be sent amongst it and the seller’s
web server. The portal at that point sends the transaction information to the payment processor
used by the seller’s securing bank.

Authorization Request: The payment processor sends the transaction information to a card
association. The Mastercard’s issuing bank sees the authorization ask for and “favors” or “denies.”

Taking care of the Order: The processor then advances an authorization relating to the merchant and
shopper to the payment entryway. This convoluted and protracted process usually takes just a couple
of moments at most. Now, the merchant fills the order.
Clearing Tran

Here is the Top 5 Payment Gateways are as follow:
Note – Paypal and Payoneer don’t come in the list due to large charge and long processing time
respectively but needs to be given a special mention for their existence of over two decades.
Though if you still using Paypal as your gateway you can check out charges with Paypal Fee
Calculator here.

Read more: How can you password protect and secure your data?

Citrus Pay
Being launched in April 2011, they overtook the market at a fast pace. They are growing at an
aggressive rate and also have a wallet service for their end users. Although there is an issue with
their support team which is slow to respond. They have one of the most lengthy documentation
processes among the lot. Currently, they have zero setup fee while a maintenance fee of INR 1200 is
charged. As far as transaction fees are said it is around 1.99% per transaction.
They are one of the oldest payment gateways in India; they were launched in 2001. The company
recently updated the whole system with a new UI on their website and even the merchant dashboard.
CCAvenue is supported by most of the banks operating and India. Most of the
e-commerce websites trust CCAvenue and uses them for the payment. If you are a startup and looking
forward to getting a reliable and fast payment gateway, then they are the one to go for. They have
two different plans for the startup it is free while for the privilege plan it is 30,000 INR for a
month. There is also an Annual Maintenance Fee which is charged to the customers. As far as
transaction fee is concerned, they charge 1.99% to 2.99% on each transaction.
EBS is owned by a France based group; they are global leaders in payment processing services. As
far as reviews are concerned, they are mixed, although out of 10, nine customers are happy with the
services. The gateway is the most reliable gateway, and with increasing competition, they have been
decreasing their charges. As far as setup fees are concerned, they charge 5000 INR to 24000 INR
based on the plan you choose. Maintenance Fees is 2400, while transaction fees range from 1.25% to
3.75% again based on the selected program.

PayUbiz and PayUMoney

They are another affordable gateway solution provider operating in India. They are two different
businesses where PayUbiz usually focuses on enterprises, while PayUMoney is used by consumers and
is typically for small businesses. PayUbiz plans start from INR 4900 and go up to 29000 INR. For
PayUMoney there is no such setup fee and is free of cost account. As far as maintenance fees are
concerned, it is 2400 for PayUbiz which can be changed as per the company while for PayUMoney till
date it is free. As far as transaction fees are concerned, they charge 2.20% to 3.90% based on the
plan you choose.
Started in mid – 2012 they have been offering one of the most regular formats to collect payments
digitally. Currently, it is not used by e-commerce websites, but people are using it to receive
payment for freelance projects and ebooks, reports, etc. They have one of the most comfortable
setups on offer, and you can instantly start using their services. There are no Setup and
Maintenance Fees, while they are going to charge a Transaction Fees of 2%.
Final Words –

In this article, we have talked about top 5 payment gateway based on ratings and reviews of the
existing users. We also tried to make people understand about What Payment Gateway is, how an
increase in internet awareness led to them in turning the payment gateway into a billion dollar
marketplace, and much more.

Thank you for reading the article, and let us know if we have missed out on anything via the
comments section. Thank you for supporting, and the listing is no way sponsored.