Paytm for Business vs Razorpay

Updated November 2026 · AppBreakup editorial

Paytm for Business

Paytm's merchant suite: online payment gateway, payment links, UPI QR codes and card machines for Indian businesses.

Paid

Visit Paytm for Business Paytm for Business profile

Razorpay

Indian payment gateway for accepting UPI, cards, netbanking and wallets online, with business banking add-ons.

Paid

Visit Razorpay Razorpay profile

The short answer

Paytm for Business suits Indian merchants that want online and in-store payments, including QR codes, soundboxes and card machines, from one provider. Razorpay suits Indian startups, D2C brands and SaaS companies that mainly sell online and want payouts and business banking in the same dashboard. The biggest difference is scope: Paytm covers physical shops, Razorpay leans into online checkout plus RazorpayX.

Paytm for Business or Razorpay: our take

Both are Indian payment providers for businesses operating in India, and both accept UPI, cards, netbanking and EMI with no setup fee or annual maintenance charge on the standard gateway. Both offer payment links, subscriptions and plugins for common store platforms, and both are managed from a web dashboard and mobile apps.

Paytm for Business is the merchant side of Paytm and covers both online and offline selling. Online, the Paytm Payment Gateway integrates through APIs, SDKs and plugins for Shopify, WooCommerce and Magento, with 100+ payment methods. In shops, it supplies QR codes, a soundbox for payment alerts and card machines, though the hardware comes with its own terms. Settlement can be T+1, same-day or on-demand. Paytm lists UPI and RuPay card payments as free for merchants, while card rates vary by category and merchant size, which can make costs harder to predict.

Razorpay is focused on online payments. Its standard pricing is 2% + GST per successful transaction, applied to UPI payments too, with new accounts getting a 0% gateway fee for the first 90 days and custom pricing for larger businesses. Beyond the gateway it offers payment pages, invoices and QR codes, plus RazorpayX for payouts, current accounts and corporate cards. It is an RBI-authorised payment aggregator, and activation requires KYC documents and a review before going live. Companies abroad can use it to collect INR from Indian customers, but it is not a global processor.

Pick Paytm for Business if you run a physical shop, want UPI collection without a gateway fee, or need QR, soundbox and online payments from one recognised brand. Pick Razorpay if you sell mainly online, value a predictable flat rate, and want to pay vendors and staff from the same account. Online businesses with high UPI volume should compare effective rates carefully, since that is where the two price most differently.

Choose Paytm for Business if…

Indian businesses that want online and in-store payments from one widely recognised provider
Covers online gateway, payment links, QR codes and card machines
No setup or annual maintenance fee on the payment gateway

Choose Razorpay if…

Indian businesses that want a single gateway for UPI, cards and netbanking plus payouts
Covers UPI, cards, netbanking, EMI and wallets in one integration
No setup fee or annual maintenance charge on the standard plan

What is Paytm for Business?

Paytm for Business is the merchant side of Paytm, covering both online and in-store payments in India. Online, businesses integrate the Paytm Payment Gateway through APIs, SDKs or plugins for platforms like Shopify and WooCommerce, and accept UPI, cards, netbanking, EMI and Paytm Postpaid, with payment links and subscriptions for collecting money without a website. In shops, it provides QR codes, a soundbox for payment alerts and card machines. Settlement options include next-day, same-day and on-demand payouts, and there is a dashboard for reports and reconciliation. Pricing is a per-transaction merchant discount rate that varies by payment method and merchant size, with no setup or annual maintenance fee on the gateway. It is used by everything from neighbourhood stores to large Indian online brands, and is only for businesses operating in India.

What is Razorpay?

Razorpay is one of the most widely used payment gateways in India. Businesses add its checkout to a website or app and can then take payments by UPI, credit and debit cards, netbanking, EMI and popular wallets, with settlement to an Indian bank account. Beyond the core gateway it offers payment links, payment pages, subscriptions, invoices and QR codes, plus RazorpayX for payouts, current accounts and corporate cards. Pricing is pay-as-you-go: a percentage fee on each successful transaction, with no setup or annual maintenance charge on the standard plan, and custom rates for larger volumes. It suits Indian startups, D2C brands, SaaS companies and freelancers who want one account for collecting money and paying it out. It is built mainly for businesses registered in India; companies abroad can use it to collect INR from Indian customers, but it is not a global processor in the way Stripe is. Everything is managed from a web dashboard and mobile apps, with APIs and plugins for common store platforms.

Side by side

Attribute	Paytm for Business	Razorpay
Pricing	Paid	Paid
Open source	No	No
Self-hostable	No	No
Platforms	Web, Android, iOS	Web, iOS, Android
Best for	Indian businesses that want online and in-store payments from one widely recognised provider	Indian businesses that want a single gateway for UPI, cards and netbanking plus payouts
Status	Active	Active

Verified facts, compared

Facts both apps publish, checked on each vendor's own site.

Fact	Paytm for Business	Razorpay
Payment methods	100+ including UPI, cards, netbanking, EMI	Cards, netbanking, UPI and wallets
Setup fee	None, and no annual maintenance charges	None, and no annual maintenance charge