Is Razorpay or Instamojo cheaper in India?

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 Payments & 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: RazorpayUpdated 31 Oct 2026

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.

Quick answer: For payments & Billing buyers in India, FindThatSoftware picks Razorpay. Best for Indian businesses accepting UPI, cards and netbanking online.

India buying factor	Razorpay✓ The pick	Instamojo
Standard rate (excl. GST)	2% per transaction	2% + ₹3 per transaction
Rate detail	Flat 2% on domestic methods; international up to 3%.	Free Payment Links at 2% + ₹3 per transaction.
Entry paid price (India)	Not listed	₹417/mo ✓
If you can't reclaim GST	—	₹492/mo
Billing model	Usage-based	Flat plan
Free plan	No	Yes
Best for	Indian businesses accepting UPI, cards and netbanking online	Freelancers and creators collecting payments
Bills in	INR, no forex	INR, no forex
India fit	INR pricing	INR pricing

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

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

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

Razorpay

The pick

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

The case for

Covers almost every Indian payment method, including UPI, RuPay, netbanking, wallets, Pay Later and EMI
Payment Links, Pages and Invoices let you collect money without building a checkout
No setup or annual maintenance fee, and invoices for the fees carry your GSTIN

The catch

The 2% platform fee plus GST applies to UPI and RuPay debit too, even though those carry zero MDR
Corporate and business credit cards cost more than the standard rate, and the welcome offer excludes them along with Amex, Diners and EMI
Subscriptions, Route and Instant Refunds are charged on top of the gateway fee, and some lower add-on rates are limited time offers
Rates for Magic Checkout, Optimizer, TokenHQ and UPI Autopay subscriptions are not published

Source trail

90 day welcome offer terms International payments pricing Razorpay pricing

Visit Razorpay Read the record

Instamojo

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

The case for

Transaction fees are printed plainly per plan on the pricing page, and moving to Growth cuts the store fee to well under half
GST is called out as extra on the pricing page rather than buried, and paid plans carry a 14 day money back guarantee
The payment gateway is bundled with the store, pages and links at no separate charge, with UPI, cards, netbanking and wallets ready on signup

The catch

Digital product sales are charged double the physical goods rate on the free and Starter store plans, which is easy to miss
The lower store fee needs the Growth plan, and its yearly price only pays back once sales volume is steady
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 volume can trigger suspension or a reserve

Source trail

Instamojo pricing Instamojo (official site)Instamojo merchant terms

Visit Instamojo Read the record

Razorpay vs Instamojo: questions

Is Razorpay or Instamojo cheaper in India?: 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 Payments & 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.

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Work at Razorpay?

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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.

Going with Razorpay?

Visit Razorpay Visit Instamojo

India buying factor

Razorpay✓ The pick

Instamojo

Standard rate (excl. GST)

2% per transaction

2% + ₹3 per transaction

Rate detail

Flat 2% on domestic methods; international up to 3%.

Free Payment Links at 2% + ₹3 per transaction.

Entry paid price (India)

Not listed

₹417/mo ✓

If you can't reclaim GST

—

₹492/mo

Billing model

Usage-based

Flat plan

Free plan

Yes

Best for

Indian businesses accepting UPI, cards and netbanking online

Freelancers and creators collecting payments

Bills in

INR, no forex

India fit

INR pricing

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

Razorpay vs Instamojo, in real rupees

The verdict: the rule, not the feature list.

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

Razorpay

The case for

The catch

Source trail

Instamojo

The case for

The catch

Source trail

Razorpay vs Instamojo: questions

Is Razorpay or Instamojo cheaper in India?

Who should choose Razorpay?

Does Razorpay or Instamojo have a free plan?

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

Work at one of these companies?

Still deciding? Get the shortlist.

Going with Razorpay?

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

Razorpay vs Instamojo, in real rupees

The verdict: the rule, not the feature list.

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

Razorpay

The case for

The catch

Source trail

Instamojo

The case for

The catch

Source trail

Razorpay vs Instamojo: questions

Is Razorpay or Instamojo cheaper in India?

Who should choose Razorpay?

Does Razorpay or Instamojo have a free plan?

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

Work at one of these companies?

Still deciding? Get the shortlist.

Going with Razorpay?