Indian Alternative of PayPal

Cashfree Payments is a Bengaluru-based full-stack payments platform for Indian businesses, processing ~$80B a year for 1M+ merchants. RBI-licensed payment aggregator offering a payment gateway, instant payouts and bulk transfers, UPI AutoPay recurring payments, cross-border collections, and KYC verification. 0% fee on UPI and RuPay, ~1.9% on cards, no setup fee, with optional instant settlements. A made-in-India Stripe and PayPal alternative.

Instamojo is a Bengaluru-based payment and e-commerce platform powering 20 lakh+ Indian businesses since 2012 — payment links, embedded checkout, no-code online store builder, inventory, and integrated shipping. Supports UPI, cards, net banking, wallets, and EMI. mojoXpress for shipping and mojoCapital for business loans. No setup or monthly fees; 2% + Rs 3 per transaction. Stripe and PayPal alternative for Indian SMEs.

IppoPay is a Chennai fintech built for small merchants, freelancers and Tier-2/3 shopkeepers — UPI QR, sound-box payment alerts, POS, payment links/pages and merchant lending in one app. Domestic cards, net banking and UPI cost 1.9%, international cards 3.5%, no setup or monthly fee. Its own terms admit it does not itself hold RBI Payment Aggregator authorisation — settlement runs through partnered, RBI-regulated banks. Play Store rating: 4.0 from 1,691 reviews.

Paytm is India's pioneering digital payments app for UPI transfers, mobile recharges, bill payments, online shopping and merchant QR scans. Trusted by 333M+ registered users and 100M+ monthly actives, Paytm bundles a wallet, Paytm Soundbox for shopkeepers, lending, insurance and investments. Now 100% Indian-owned after Ant Financial's exit in August 2025 and an RBI-approved payment aggregator since November 2025.

PhonePe is India's most-used UPI payments app, with 700M+ registered users and roughly 46% of UPI transaction volume (NPCI, June 2026). Use it for instant money transfers, mobile recharges, bill payments and merchant QR scans, plus mutual funds, insurance and lending. PhonePe Pulse publishes free public dashboards on India's UPI traffic. Majority-owned by Walmart; headquartered in Bengaluru.

Razorpay is India's largest online payment gateway from Bengaluru with 8M+ merchants, 55% market share, and 35M daily UPI transactions. Developer-friendly APIs supporting 100+ payment methods (UPI, cards, net banking, wallets, EMI, international), Payment Links and Pages for non-technical merchants, and integrations with Shopify and WooCommerce. RazorpayX for business banking, payroll, and Capital lending. 2% per transaction, no setup fee. Stripe alternative.