PhonePe Payment Gateway vs Razorpay: Payment Gateway Compared (2026)
PhonePe Payment Gateway and Razorpay are Indian online payment gateways.
- Verified 13 Nov 2026Sources are dated on this page
- 3 sourcesLinked, typed and dated
- No winner declaredFit depends on your criteria
- Not tested by Stack18Editorial summary of documented facts
PhonePe Payment Gateway vs Razorpay: the short answer
PhonePe Payment Gateway and Razorpay are Indian online payment gateways.
PhonePe’s gateway leans on UPI traffic with zero setup and annual fees. Razorpay is India’s leading gateway with a broad product suite.
We compare what the dated sources support and mark the rest Unknown. No winner is declared: the better fit depends on your size, budget and how you work.
Choose PhonePe Payment Gateway if you- Have heavy UPI traffic
- Want zero setup and AMC
- Want promotional rates
Choose Razorpay if you- Want the broadest product suite
- Need subscriptions, payouts and links
- Want custom pricing at scale
PhonePe Payment Gateway and Razorpay at a glance.
One card per product, drawn from each full profile. Open a profile for features, pricing plans, limits and sources.
PhonePe Payment Gateway
PhonePe · Payment Gateways
PhonePe Payment Gateway (PhonePe PG) is an online payment gateway from PhonePe that lets Indian businesses accept UPI, cards, net banking and other methods on websites and apps, with zero setup and maintenance fees and a Standard plan rate of 1.99 percent.
- Pricing
- Standard 1.99% (promotional “free” offer); zero setup fee.
- Best for
- Indian merchants with heavy UPI traffic
Razorpay
Razorpay · Payment Gateways
Razorpay is an Indian payments platform for online payments, UPI, subscriptions, payouts and business banking.
- Pricing
- 2% + GST on domestic cards, net banking and wallets; UPI 0% MDR with a platform fee; custom pricing above INR 5 lakh a month.
- Best for
- Indian businesses collecting online payments
PhonePe Payment Gateway vs Razorpay: feature-by-feature comparison.
Every row is drawn from the two profiles and their sources. Rows that differ are marked, and you can filter the table to show only those.
- YesDocumented
- PartialAvailable with limits or on some plans
- NoDocumented as unavailable
- UnknownNot documented in the sources reviewed
| Dimension |  PhonePe Payment Gateway |  Razorpay |
|---|---|---|
| Product | ||
| Core model | YesPhonePe Payment Gateway (PhonePe PG) is an online payment gateway from PhonePe that lets Indian businesses accept UPI, cards, net banking and other methods on websites… | YesRazorpay is an Indian payments platform for online payments, UPI, subscriptions, payouts and business banking. |
| Product type | YesPayment gateway (India) | YesIndian payment gateway |
| Vendor | YesPhonePe | YesRazorpay |
| Pricing | ||
| Pricing modelDiffers | YesUsage or transaction based | YesFlat or plan-based |
| Free planDiffers | NoNo setup or annual fee | NoNo monthly fee |
| Free trial | NoNot applicable | NoNot applicable |
| Starting price | YesStandard 1.99% (promotional “free” offer); zero setup fee. | Yes2% + GST on domestic cards, net banking and wallets; UPI 0% MDR with a platform fee; custom pricing above INR 5 lakh a month. |
| Platform and deployment | ||
| PlatformsDiffers | YesWeb, Android, iOS | YesWeb, API |
| Deployment | YesCloud (SaaS) | YesCloud (SaaS) |
| Key integrations | YesShopify and WooCommerce plugins (vendor); Android and iOS SDKs (vendor); PhonePe app UPI intent | YesShopify; WooCommerce; Zoho |
| Fit | ||
| Team size | YesSmall teams, Mid-size teams, Large enterprises | YesSmall teams, Mid-size teams, Large enterprises |
| Best for | YesIndian merchants with heavy UPI traffic | YesIndian businesses collecting online payments |
| Built for India | YesYes, India-focused | YesYes, India-focused |
| AI | ||
| AI features | UnknownNot documented in the sources reviewed | UnknownNot documented in the sources reviewed |
PhonePe Payment Gateway vs Razorpay pricing.
PhonePe Payment Gateway pricing
Percentage per transaction (Standard 1.99%, promotional free offer); custom for enterprise.
- Starting pointStandard 1.99% (promotional “free” offer); zero setup fee.
- Free planNo setup or annual fee
- Free trialNot applicable
From the PhonePe Payment Gateway profile. Checked 13 Nov 2026.
All PhonePe Payment Gateway plans and sources
Razorpay pricing
Flat or plan-based
- Starting point2% + GST on domestic cards, net banking and wallets; UPI 0% MDR with a platform fee; custom pricing above INR 5 lakh a month.
- Free planNo monthly fee
- Free trialNot applicable
From the Razorpay profile. Checked 11 Nov 2026.
All Razorpay plans and sourcesPhonePe lists a Standard plan at 1.99 percent (shown free during an offer) with no setup or AMC. Razorpay charges 2 percent plus GST on domestic cards, net banking and wallets, with 0 percent MDR on UPI plus a platform fee. Rates are close; compare your payment mix.
List prices rarely tell the whole story. Check minimum terms, user or volume minimums, add-ons and taxes such as GST before comparing totals.
Prices and plans change. Confirm current terms with each vendor before you decide.
PhonePe Payment Gateway vs Razorpay: implementation, ecosystem, AI and security.
Ease of implementation and trials
We did not test setup or migration for either product. PhonePe Payment Gateway free trial: Not applicable. Razorpay free trial: Not applicable. Pilot one real process in each before committing.
Integrations and ecosystem
PhonePe Payment Gateway: Shopify and WooCommerce plugins (vendor); Android and iOS SDKs (vendor); PhonePe app UPI intent. Razorpay: Shopify; WooCommerce; Zoho. Check each integration directory for the tools you actually use.
AI capabilities
PhonePe Payment Gateway does not document AI features in the sources reviewed. Razorpay does not document AI features in the sources reviewed. We did not test output quality, so run both against a real task before treating AI as a deciding factor.
Deployment, security and administration
PhonePe Payment Gateway runs as cloud (SaaS); Razorpay runs as cloud (SaaS). We did not review certifications or data residency in detail. Request current security documentation from both vendors if you are regulated.
PhonePe Payment Gateway and Razorpay: each option, in balance.
PhonePe Payment Gateway
Strengths and limitations from the profile
- Zero setup and annual maintenance fees.
- Strong UPI experience from PhonePe.
- Promotional free pricing on Standard.
- Enterprise custom pricing.
- Per-method rates not printed.
- Settlement terms not published.
- Offer end date not stated.
- GST applies on fees.
Razorpay
Strengths and limitations from the profile
- No setup or annual fee.
- 0% MDR on UPI.
- Custom rates at volume.
- UPI platform fee still applies.
- Intro offer is temporary.
- GST on fees.
PhonePe Payment Gateway or Razorpay: which fits which situation?
No overall winner is declared. The better choice depends on the criteria that matter most to you, so test both against your own requirements.
Choose PhonePe Payment Gateway if you…
- Have heavy UPI traffic
- Want zero setup and AMC
- Want promotional rates
Choose Razorpay if you…
- Want the broadest product suite
- Need subscriptions, payouts and links
- Want custom pricing at scale
Switching between PhonePe Payment Gateway and Razorpay.
Run both gateways in parallel on part of your traffic, update checkout integrations and webhooks, and switch fully once settlements reconcile.
- Export a sample of your data and test an import into the other product.
- List the automations, integrations and permissions you would need to rebuild.
- Pilot with one team before a full cut-over.
- Check contract terms and notice periods with both vendors.
General guidance, not specific to either vendor. Confirm migration options with the vendors.
PhonePe Payment Gateway vs Razorpay: questions and answers
What is the difference between PhonePe Payment Gateway and Razorpay?
PhonePe Payment Gateway and Razorpay are Indian online payment gateways. PhonePe’s gateway leans on UPI traffic with zero setup and annual fees.
Which is cheaper?
Standard rates are similar: PhonePe 1.99 percent versus Razorpay 2 percent plus GST; check current offers.
Do both support UPI?
Yes.
Are there setup fees?
PhonePe lists zero setup and annual fees; Razorpay has no monthly fee.
Which is better for small businesses, PhonePe Payment Gateway or Razorpay?
PhonePe Payment Gateway is documented for small teams, mid-size teams, large enterprises; Razorpay for small teams, mid-size teams, large enterprises. Choose PhonePe Payment Gateway if you have heavy UPI traffic; choose Razorpay if you want the broadest product suite.
What are the alternatives to PhonePe Payment Gateway and Razorpay?
Both are listed in Stack18’s Payment Gateways directory. See the PhonePe Payment Gateway alternatives guide and the Razorpay alternatives guide for sourced shortlists of competitors.
Where this comparison comes from.
- PhonePe Payment Gateway pricing PhonePe Official Accessed 13 Nov 2026
- Payment gateways for Indian startups (2026) ProductGrowth Third-party Accessed 13 Nov 2026
- Which payment gateway for Indian D2C: Razorpay, Cashfree or PayU (2026) eChai Ventures Third-party Accessed 11 Nov 2026
Comparison rows summarise the sources listed and the two profiles. Confirm current details with each vendor. Stack18 has not tested either product.
Ready to test PhonePe Payment Gateway and Razorpay?
Check each vendor's current pricing and terms, run both against a real scenario from your business, or talk to Stack18 if off-the-shelf software is not the answer.
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