E-Commerce Payment Gateways in India: Razorpay vs Stripe vs PhonePe
Compare India's top payment gateways — fees, features, settlement time, and which one to pick for your online store.
Mahi A.
THE X STUDIO
Choosing a payment gateway is one of the most important decisions for your e-commerce store. Get it wrong, and you lose sales to checkout friction. Here's how India's top options compare.
Razorpay
India's most popular gateway. Supports UPI, credit/debit cards, net banking, EMI, and wallets. Instant activation (no physical verification). Razorpay's checkout UX is best-in-class — minimal redirects, auto-detect UPI apps. Settlement: T+1. Pricing: 2% for cards/net banking, no setup fee.
Stripe
Global leader, now accepting Indian merchants. Great for international customers (pricing in USD/EUR). API is developer-friendly with excellent docs. Supports all Indian payment methods. Settlement: T+3. Pricing: 2% + ₹3 for international cards, 2% for domestic.
PhonePe Payment Gateway
Newer entrant but growing fast. Zero rental fee, low MDR. Best for UPI-first stores. Integration is straightforward. Settlement: T+1.
Our Recommendation
For most Indian e-commerce stores, Razorpay is the best balance of cost, UX, and features. Stripe if you have significant international customers. We integrate all three at THE X STUDIO — and often recommend a primary + backup gateway.