Payment gateway options?
I’m building a SaaS that needs a payment gateway. Razorpay, stripe and cashfree can’t onboard new businesses because of some RBI regulation(since December 2022). What would you guys suggest I go with? Ideally I would need a PG that can split payments.
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Jordon Carmden
Stealth
a year ago
Phonepe launched payment gateway last week with zero fees in pilot mode. Not sure if it is open for all.
If not phonepe, then try CCavenues (costly)
Kendall Carmden
Stealth
a year ago
Just tried, they have started on boarding at 1.85% + gst as fees
Split is only offered by the 3 companies you mentioned -- technically and regulation wise it is a significantly more complex product than a vanilla pg. Stripe's offering is untested in India afaik. Cashfree is revamping its split payments offering into "embedded payments" and will be announced soon. The onboarding embargo is a bummer though.
A hackey way to do it temporarily is to use payouts after you've collected into your account through a payment gateway.
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RBI lifts ban on Razorpay, Cashfree; allows onboarding new merchants
Last year, the central bank asked Razorpay, Cashfree, PayU, and Paytm, which hold in-principal approvals for payment aggregator licence, to ...
https://www.livemint.com/news/rbi-lifts-ban-on-razorpay-cashfree-allows-onboarding-new-merchants-11702996915800.html
