Is Razorpay or Instamojo cheaper in India?

Instamojo has a free plan, so it is the cheaper way to start if its limits fit you. At least one of these does not publish a clear starting price, so compare their India pricing pages directly — where a price exists, this page shows the all-in GST-registered cost in rupees.

Does Razorpay or Instamojo have a free plan?

Instamojo offers a free plan; Razorpay does not list one. For a zero-commitment start, Instamojo is the lower-risk option.

What should Indian businesses check before choosing a Payments & Billing tool?

For Online payment gateways and billing tools, check the real INR cost (with GST), free-plan limits, per-seat versus flat pricing, India-specific support and integrations, setup effort, and the vendor's pricing page directly before committing.

FindThatSoftwareComparison

Online payment gateways and billing tools

Razorpay vs Instamojo: Which Payment Tool for India? (2026)

A full payment gateway versus the fastest way for tiny sellers to get paid.

✓ The pick — Razorpay

Quick answer: For online payment gateways and billing tools buyers in India, FindThatSoftware picks Razorpay. Best for indian businesses accepting UPI, cards, and netbanking online.

The two, weighed

Head-to-head — the case and the catch for each.

Source-backed facts only; no invented ratings. Each side shows the verified numbers, what earns it, and what to watch for.

Online payment gateways and billing tools✓ The pick

Razorpay

India-first payment gateway for accepting online payments, UPI, payment links, and subscriptions.

India fit: INR pricing

The case for

Broad Indian payment method coverage including UPI
Payment links and subscriptions reduce build effort

The catch

Per-transaction fees apply to every payment
Exact rates vary by method and need verification

Source trail

Razorpay pricing Razorpay (official site)

Read the record Visit Razorpay

Online payment gateways and billing tools

Instamojo

India-first payments and online-store platform for small businesses, freelancers and creators.

India price: ₹417/mo
India fit: INR pricing

The case for

Transaction fees are printed plainly at 5% plus ₹3 on the free and Starter store plans and 2% plus ₹3 once you reach Growth
GST is called out as extra on the pricing page rather than buried, and store plans carry a 14 day money back guarantee
The payment gateway is bundled with the store at no separate charge, so there is no second plugin or gateway subscription

The catch

Digital product sales are charged at 10% plus ₹3 on the lower plans, double the physical goods rate, which is easy to miss
Reaching the 2% rate means the Growth plan at ₹14,999 a year, so the lower fee only pays back at real volume
The terms let Instamojo change your commission at its sole discretion and put the burden on you to check the site for revisions
Merchants must give customers a refund window of at least three business days, and a high dispute rate can trigger suspension or a reserve

Source trail

Instamojo pricing Instamojo (official site)

Read the record Visit Instamojo

Side by side

Razorpay vs Instamojo, in real rupees

The all-in India cost for a GST-registered business (card forex included), plus the gross figure if you can't reclaim GST, billing model, and free-plan availability. Cheaper entry price is marked.

India buying factor	Razorpay	Instamojo
Entry paid price (India)	Not listed	₹417/mo ✓
If you can't reclaim GST	—	₹492/mo
Billing model	Usage-based	Flat plan
Bills in	INR — no forex	INR — no forex
Free plan	No	Yes
Free trial	Not listed	Not listed

The verdict

The rule, not the feature list.

Narrow on purpose — which tool someone like you should pick, and why. Not every checkbox.

Razorpay is the full gateway for businesses with a real store or recurring sales, with strong APIs and lower per-transaction cost at scale. Instamojo is the quickest start for solopreneurs - free payment links at 2% + Rs.3 - but its plans suit very small operations. Choose Razorpay if you are building a proper checkout; Instamojo if you just need a link today.

Read the Razorpay record

Not sold on either?Razorpay alternatives Instamojo alternatives

Questions

Is Razorpay or Instamojo cheaper in India?: Instamojo has a free plan, so it is the cheaper way to start if its limits fit you. At least one of these does not publish a clear starting price, so compare their India pricing pages directly — where a price exists, this page shows the all-in GST-registered cost in rupees.
Who should choose Razorpay?: Indian businesses accepting UPI, cards, and netbanking online
Does Razorpay or Instamojo have a free plan?: Instamojo offers a free plan; Razorpay does not list one. For a zero-commitment start, Instamojo is the lower-risk option.
What should Indian businesses check before choosing a Payments & Billing tool?: For Online payment gateways and billing tools, check the real INR cost (with GST), free-plan limits, per-seat versus flat pricing, India-specific support and integrations, setup effort, and the vendor's pricing page directly before committing.

For vendors

Work at one of these companies?

Work at Razorpay?

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Work at Instamojo?

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The dispatchFree · no noise

Still deciding? Get the shortlist.

A short, occasional email with the India-first software tools and buying guides we'd actually recommend. Source-backed, no noise.

Head-to-head — the case and the catch for each.

Source-backed facts only; no invented ratings. Each side shows the verified numbers, what earns it, and what to watch for.

Online payment gateways and billing tools✓ The pick

Razorpay

India-first payment gateway for accepting online payments, UPI, payment links, and subscriptions.

India fit: INR pricing

The case for

Broad Indian payment method coverage including UPI
Payment links and subscriptions reduce build effort

The catch

Per-transaction fees apply to every payment
Exact rates vary by method and need verification

Source trail

Razorpay pricing Razorpay (official site)

Read the record Visit Razorpay

Online payment gateways and billing tools

Instamojo

India-first payments and online-store platform for small businesses, freelancers and creators.

India price: ₹417/mo
India fit: INR pricing

The case for

Transaction fees are printed plainly at 5% plus ₹3 on the free and Starter store plans and 2% plus ₹3 once you reach Growth
GST is called out as extra on the pricing page rather than buried, and store plans carry a 14 day money back guarantee
The payment gateway is bundled with the store at no separate charge, so there is no second plugin or gateway subscription

The catch

Digital product sales are charged at 10% plus ₹3 on the lower plans, double the physical goods rate, which is easy to miss
Reaching the 2% rate means the Growth plan at ₹14,999 a year, so the lower fee only pays back at real volume
The terms let Instamojo change your commission at its sole discretion and put the burden on you to check the site for revisions
Merchants must give customers a refund window of at least three business days, and a high dispute rate can trigger suspension or a reserve

Source trail

Instamojo pricing Instamojo (official site)

Read the record Visit Instamojo

Razorpay vs Instamojo, in real rupees

The all-in India cost for a GST-registered business (card forex included), plus the gross figure if you can't reclaim GST, billing model, and free-plan availability. Cheaper entry price is marked.

India buying factor	Razorpay	Instamojo
Entry paid price (India)	Not listed	₹417/mo ✓
If you can't reclaim GST	—	₹492/mo
Billing model	Usage-based	Flat plan
Bills in	INR — no forex	INR — no forex
Free plan	No	Yes
Free trial	Not listed	Not listed