OCTIS vs Razorpay vs Cashfree vs PayU: payment gateway fees in India
Public rate cards, with GST of 18% added on top of every fee.
Last checked · 3 sources
Otty's short answer
The three are close on domestic cards. Razorpay and PayU list 2%, Cashfree lists 1.95%. The gap shows elsewhere. Cashfree lists the lowest international card rate at 2.99% and instant settlement at 0.30%. Razorpay settles on T+1 and shows zero setup and annual fees. PayU settles on T+2 by default and offers custom slabs for large volumes.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | Razorpay | Cashfree Payments | PayU |
|---|---|---|---|---|
| Domestic cards and netbanking | Set by our licensed partner; quoted before you commit | 2% | 1.95% | 2% |
| UPI | Set by our licensed partner; quoted before you commit | 2% listed platform fee | Follows applicable law | Varies by business type |
| International cards | Collecting and sending payments in several currencies via licensed partners | Up to 3% | 2.99% Visa, Mastercard | 3% |
| EMI | Not an OCTIS product | 2% | 2.2% credit card EMI | 3% |
| Setup fee | Set by our licensed partner; quoted before you commit | ₹0 | ₹0 | ₹0 |
| Annual fee | Set by our licensed partner; quoted before you commit | ₹0 | Not listed | None listed |
| Standard settlement | Collect payments via licensed partners | T+1 | T+1 during its offer | T+2 |
| Instant settlement | Set by our licensed partner; quoted before you commit | Paid add-on | 0.30% fee | Some business types |
| Corporate credit cards | Corporate card via licensed partners | 2.15% | Not listed | Not listed |
| Custom pricing | Priced 10–30% below your current bill | Enterprise terms | Not stated | Custom slabs |
| GST on fees | Not needed for the Hong Kong company; local rules apply if you trade there | 18% | 18% | 18% |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you sell to customers in several countries and want payments, company and CRM in one place.
Razorpay
Choose Razorpay if you want a flat 2% rate, no setup or annual fee, and T+1 settlement without a promotion.
Cashfree Payments
Choose Cashfree if you take international cards or need instant settlement, and the lower listed rates matter.
PayU
Choose PayU if you process high volumes and want to negotiate slabs, or need EMI and Amex at a listed 3%.
What the table does not show
The headline rate is not the whole bill
Add 18% GST to every fee. On a ₹10,000 card payment, Razorpay's 2% is ₹200 plus ₹36 GST. Cashfree's 1.95% is ₹195 plus about ₹35 GST. UPI and RuPay debit have zero merchant discount rate under RBI policy, but Razorpay still lists a 2% platform fee on UPI. Cashfree says UPI charges follow applicable law. PayU says merchant UPI rates vary by business type and volume.
International and instant settlement
Razorpay lists international cards at up to 3%. Cashfree lists 2.99% for Visa and Mastercard and 2.95% for Amex. PayU lists 3% for international cards, Amex, Diners and EMI. Cashfree charges 0.30% for instant settlement, with funds in about 30 minutes. Razorpay offers instant settlement as a paid add-on and PayU offers same-day settlement for some business categories.
Offers change, check the date
Cashfree's page shows a festive offer of 0% platform fee on the first ₹20 lakh for new merchants, with T+1 settlement. The offer excludes Amex, Diners, corporate cards, EMI, international and some other methods. Offers end, so use the standard rate for planning. Rates for your business may differ by risk and volume.
Where OCTIS fits
OCTIS does not process payments and has no partnership with Razorpay, Cashfree or PayU. If a Malaysian or Hong Kong company sells into India, the settlement statements and GST on gateway fees still land in your books. OCTIS bookkeeping for the home company can reconcile what the Indian entity reports. Ask about 10–30% off your current bill.
Frequently asked questions
Which payment gateway is cheapest in India?
On public rate cards Cashfree is lowest, at 1.95% domestic and 2.99% international. Razorpay and PayU list 2% domestic. Final cost depends on payment mix, volume and negotiation, and GST of 18% applies to each fee.
Does Razorpay charge a setup fee or annual fee?
No. Razorpay's pricing page lists a setup fee of ₹0 and an annual maintenance charge of ₹0. The 2% platform fee applies per successful transaction, and GST at 18% is added.
Is there a fee on UPI payments?
UPI and RuPay debit carry zero merchant discount rate under RBI policy. Razorpay still lists a 2% platform fee on UPI. Cashfree says UPI charges follow applicable law, and PayU says merchant UPI rates vary. Ask each one in writing for your business type.
How long does settlement take?
Razorpay settles on T+1, with instant settlement as a paid add-on. PayU settles on T+2 by default. Cashfree offers instant settlement at 0.30%, with funds in about 30 minutes, and T+1 during its offer. Banking holidays can delay any standard cycle.
Which gateway is best for international payments?
Cashfree lists the lowest card rate, 2.99% for Visa and Mastercard. Razorpay lists up to 3% on cards. PayU lists 3%. Currency conversion and payout fees also matter, so compare the full flow.
Sources
Checked on the date above. Links open the provider's or regulator's own page.