Razorpay alternatives in India

New merchants who sign up between 21 July 2026 and 31 March 2027 pay no platform fee on domestic transactions up to a one time GMV cap, but GST is still charged on the standard rate and the offer can be withdrawn if credit cards make up most of your volume. EMI, pay later, Amex, corporate cards and international cards are always billed at their own higher rates, and instant settlement, split payments and subscriptions carry separate fees.

The rate depends on the payment method, with corporate cards, Amex, cardless EMI, international cards and multi-currency charged noticeably more than domestic cards and UPI, and the vendor says rates can differ by merchant category. The trap is the fixed extras: a yearly software upgradation charge billed in advance every April from the second financial year, a surcharge on top of every Shopify payment, and per mandate fees for recurring card payments.

The category based rates you may see on business.paytm.com belong to the in-store card machine product, not the online gateway, and that page still says UPI is free, which contradicts the online pricing page. Paytm's pricing terms let it change rates without notice and say the final rate is the one communicated after signup, so check your agreement before going live.

PayU charges 2% per transaction for domestic cards, net banking, wallets and BNPL, and 3% for EMI, Amex, Diners and international, plus 18% GST (2.36% and 3.54% all-in). UPI and high-volume rates are quoted case by case.

The regular Standard Plan rate is shown struck through next to a limited period zero fee offer whose end date and terms are not published, and the vendor says GST at 18 percent is added to the fee. Rates can differ by payment method but no per method table is shown, so get your method by method rates in writing before going live.

Store plans set the rate: Lite and Starter pay more than double the Growth rate, digital goods are charged more on every plan, and corporate cards cost extra. Paid plans have a 14 day money back window and no refund after that, and the monthly Growth option costs far more over a year than paying annually.