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PayU (India)B69

Payment Processor · Registered Indian businesses, from SMBs to large e-commerce, travel, education and financial-services merch…

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Overview

PayU is one of India's largest payment aggregators, with a broad product set (cards, UPI, net banking, wallets, EMI and BNPL, payment links, subscriptions, split settlements, POS devices and QR) and full RBI authorisation since 2025. Its headline rate of 2% plus GST matches Razorpay's and sits slightly above Cashfree's 1.95%, and standard settlement is T+2 at all three. The grade stops at B-, level with Razorpay and Cashfree, for three reasons. Much of the price list is quoted rather than published: UPI, faster settlement, POS and the detail of international pricing. The merchant terms are one-sided: PayU can demand a reserve, delay settlement, change fees and keep money for 210 business days after an account closes, and its liability is capped at one month's fees. And public merchant feedback is poor, with a 1.9 Trustpilot score from 53 reviews dominated by complaints about holds and support, though that is no worse than Razorpay's 1.4 or Cashfree's 1.5.

Best for: Registered Indian businesses, from SMBs to large e-commerce, travel, education and financial-services merchants, that want a full domestic method mix, card EMI and pay-later options at checkout, and the option of in-store POS and QR on the same account, and that are big enough to negotiate custom pricing and an account manager.

Strengths

  • + A published headline rate with no setup, onboarding or annual fee: 2% plus GST on domestic cards, net banking, BNPL and wallets, the same as Razorpay's and close to Cashfree's 1.95%, and charged only on successful transactions.
  • + A wide product range on one account: 150+ payment modes, card EMI and BNPL, subscriptions, split settlements, payment links and invoices, international cards in 135+ currencies, plus POS terminals, soundboxes and QR for in-store selling.
  • + Fully authorised by the RBI as an online payment aggregator since May 2025, with an integrated authorisation for offline and cross-border payments reported in November 2025.
  • + Scale and backing: owned by Prosus, serving what it says are 4.5 to 5 lakh businesses, and reported to have turned adjusted-EBITDA positive in the year to March 2026.

Trade-offs

  • – Much of the price list is quoted rather than published: UPI, priority settlement, POS devices and transactions, and the international page contradicts the pricing page's 3% slab by telling merchants to ask for a rate.
  • – One-sided terms: PayU can demand reserves, delay settlements, revise fees, keep funds for 210 business days after termination (longer if money was put on hold), charge 1.5% a month on overdue sums and cap its own liability at one month's fees.
  • – Weak public merchant feedback: a Trustpilot TrustScore of 1.9 from 53 reviews, 90% of them one-star, citing settlement holds, onboarding rejections and unresponsive support. Razorpay (1.4) and Cashfree (1.5) score lower still.
  • – Regulatory history: the RBI returned PayU's payment aggregator application in January 2023 (PayU said the main issue was simplifying its corporate structure), and PayU did not onboard new online merchants until its in-principle approval in April 2024.
  • – India only: PayU India serves India-registered businesses (plus offshore merchants selling into India) and settles in rupees. PayU sites in other countries are separate companies; the Latin American and African businesses now belong to Rapyd.

Fees in detail

  • Online rate: 2% + GST (Visa/MC, net banking, wallets)
  • International: As of September 2026 PayU's pricing page puts international transactions, with Diners, American Express and EMI, in a 3% slab, plus 18% GST
  • Disputes: PayU publishes no chargeback fee. Its merchant terms make the merchant liable for every chargeback, refund and any network or bank penalty,

Standard published rate for a domestic online card payment. Confirm current pricing on PayU (India)'s pricing page.

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