PayPal Payment Gateway Service
PayPal is an international payment platform that is accessible in more than two hundred countries. In 2014, PayPal reportedly processed four billion payments, one billion of which were mobile transactions. More than 173 million clients utilise PayPal routinely. Therefore, in order to receive orders from international customers, your eCommerce store must be integrated with PayPal. PayPal facilitates the transfer of funds to and from bank accounts in 57 different currencies and maintains balances in 26 additional currencies. The platform supports over 100 different currencies.In India, PayPal is mainly used by merchants to receive funds from international clients, as Indian companies are prohibited by banking regulations from accepting Indian credit cards via PayPal.
Annual Maintenance Charge | Free, Zero maintenance charges |
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Transaction Fee per Transaction | 4.4% + USD $0.30 + Currency conversions charges |
Customer Support | PayPal provides outstanding consumer service. |
Documentation Required | Your PAN, details of a local bank account, and a purpose code (which has been implemented to denote the type of cross-border transaction payment conducted in adherence to regulatory obligations). |
Settlement Days | Every money that you receive in your PayPal account will be automatically transferred each day to your local bank account. |
Support for Multiple Currencies | PayPal is available in over 100 countries, and as a merchant, you can keep your profits in 57 different currencies! |
Top 10 Best Payment Gateways in India 2024
A Payment Gateway serves as a web-based e-commerce service that grants authorization for credit or debit card payments on behalf of bricks and clicks, traditional brick-and-mortar establishments, online businesses, and online retailers. It enables communication between the Front End Processor or acquiring financial institution and a payment gateway (such as a website, smartphone, or voice response service). The payment transaction between the merchant (seller) and the consumer (buyer) is automated by the Payment Gateway service. A third-party service typically operates as a computerized system that accepts or declines credit card transactions (as well as verifies them) on the merchant’s behalf via secure Internet connections. The payment gateway structure facilitates the acceptance of credit, debit, and other electronic payment methods by the merchant (seller).
Table of Content
- Best Online Payment Gateways in India 2024
- 1. Cashfree Payment Gateway
- 2. PayU Payment Gateway Service
- 3. OPEN Payment Gateway
- 4. Razorpay Payment Gateway & Payment Solutions
- 5. InstaMojo Payment Gateway India
- 6. PayPal Payment Gateway Service
- 7. CCAvenue Payment Gateway
- 8. PayUbiz Payment Gateway Service
- 9. Mobikwik Payment Gateway
- 10. Easebuzz
- Conclusion