Best International Payment Gateways 2021

Aman Saxena
24.09.19
3 minute read

Thanks to online payment gateways, selling internationally has never been easier. Whether you are a small crafts producer or a large service provider, the world has become your oyster. But that doesn’t mean that all payment gateways will work for you or are built the same. Take a look at the best international payment gateways out there and see which one is the best for your business.

Stripe payment gateway

The San Francisco based Stripe is a technology first online payment gateway that has one low fee and can take payments in 135+ currencies.
stripe-payment-gateway

  • A popular option with millions of customers in 120+ countries
  • No setup or monthly fees, just one simple fee on transactions
  • Not fully available for Indian businesses to use yet

Stripe was born with technology and the developer in mind but is simple enough to use for non-tech people. It has an easy onboarding process and the customer interface is intuitive. For pricing, you will be charged a flat fee per transaction. In the US, the fee is 2.9% + 30c¹. Stripe also provides hundreds of features like financial reconciliation, a unified dashboard, different settlement options and 24/7 support free with an account². And with new technology coming out consistently to improve the experience of businesses and the customer, with Stripe you are able to stay on top of new additions.

PayPal payment gateway

One of the largest and original payment gateways to work globally, PayPal is a leader in providing easy ways for customers to pay, but they may no longer be the best deal in town.
paypal-payment-gateway

  • No monthly fees for an account, but transactions work through the PayPal wallet
  • Easy to sell globally to over 250 million PayPal customers³
  • PayPal offers a variety of ways for customers to pay online

PayPal payment gateway is well known, accessible globally and allows for different ways for customers to pay. So whether through express checkout, payment links or the standard version, you can meet customers with flexible options. You can even use PayPal if you don’t have a website. But when it comes to pricing, the different fees can take a toll on international payments. PayPal has a transaction charge, plus a fixed fee and a currency charge on top of that⁴. Adding them all up, they can take a good bite out of the transaction. PayPal is available for Indian business accounts.

CCAvenue payment gateway

CCAvenue is an Indian payment gateway that lets domestic businesses take payments online through 200+ options in the country as well as credit and debit payments globally.
ccavenue-payment-gateway

  • Used widely by Indian merchants⁵
  • Although only for Indian merchants, but can take international payments
  • 27 multi-currency processing options

CCAvenue is a widely used payment gateway in India that is free to start and with an easy onboarding system. It allows for payments through a business’ website, phone, in-app, email or SMS and social media. It is easy to integrate and gives an option for easy checkout for returning customers. When it comes to pricing, most transactions are at a 2% fee domestically and 3% for international. But if you want to offer the multi-currency option, that fee jumps to 4.99%⁶. With its wide range of payment options in India, CCAvenue may be a better bet for primarily domestic customers.

EBS payment gateway

EBS, or Ingenico ePayments, is an Indian payment gateway with 100+ payment options for domestic customers, but the user experience and international payments hit some snags.
ebs-payment-gateway

  • Multiple payment options including eWallets, Bank EMI and NetBanking for Indian customers
  • International payments have a higher charge
  • Payment settlement can be time-consuming

EBS was bought by Ingenico ePayments, the global company providing payment solutions. EBS offers two plans- a Starter plan that has fixed charges per transaction and annual maintenance costs, and a Premium plan that is customizable and priced accordingly. Most businesses will fall within their Starter plan where most domestic transactions are at 2%⁷. But international transactions have an undisclosed charge with an additional ₹7 charge on each one for fraud protection.

The international transactions are done with dynamic currency conversions⁸, which means that the rate your customers get is set by the company- not the actual mid-market exchange rate. Settlements are also not automatic, so you will have to manually go into your dashboard to authorize payments into your bank account every time.

PayUMoney payment gateway

PayU is a popular Indian payment gateway for domestic customers but getting international payment options isn’t straightforward and is subject to approval by PayU and their banking partners.
payumoney-payment-gateway

  • 450,000 businesses in India use PayU Money
  • Allows for UPI payments, one of the fastest-growing Indian payment systems
  • Accept payments in 30 different currencies but only after approval by PayU

If you have used Bookmyshow or Myntra in India, it is quite likely you have run into PayU. This payment gateway has quite a few well-known clients across the country, and offers diversified payment options for customers. You can get settlements in your preferred bank account and PayU has a quick onboarding system. But if you are looking for an easy way to do international transactions, this may not be the platform for you. You require additional documentation, which may include an import/ export license for goods, to get approval to accept International transactions with PayU⁹. So if you are looking for a smooth process for getting international payments, you may need to look elsewhere.

Sending business payments internationally? Wise is upto 19x cheaper than PayPal and banks

Wise

A third party independent research agency found that Wise is 19x cheaper than PayPal and banks on popular routes. For an easy to use and low-cost way to receive and send payments globally- look no further than Wise Business.

With a free Wise business account, you can send, receive and spend all at the mid-market exchange rate. No pesky ongoing fees or limitations to receive international payments. There are no fees to receive money and you can send payments to over 59 countries with one low fee.

Sources used for this article

  1. Stripe
  2. Stripe Pricing
  3. PayPal Payment Gateway
  4. PayPal Merchant Fees
  5. CC Avenue
  6. CC Avenue Multi-Currency Option
  7. EBS Pricing
  8. EBS International Pricing
  9. PayU Money

All sources checked as of 23 September, 2019


This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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