Payment Gateway Charges for Restaurants: Paytm vs PhonePe vs Razorpay (2024)
Choosing the right payment gateway can save your restaurant thousands every month. Let's break down the real costs for Paytm, PhonePe, and Razorpay in 2024.
Payment Gateway Charges Comparison
| Provider | UPI Charges | Cards/Wallets | Settlement |
|---|---|---|---|
| Paytm | Free (0%) | 1.99% + GST | T+1 day |
| PhonePe | Free (0%) | 1.99% + GST | T+1 day |
| Razorpay | Free (0%) | 2% + GST | T+2 days |
Good news: UPI transaction cost is zero across all three platforms. The difference shows up in card payments and wallet transactions. For a restaurant doing ₹2 lakh monthly card sales, you're paying around ₹4,000-₹4,500 in payment gateway charges. Paytm and PhonePe have a slight edge with faster settlements and marginally lower restaurant payment fees.
Pro tip: Encourage UPI payments over cards to eliminate transaction fees completely. If you're using digital menus like DineCard (dinecard.in), add payment QR codes directly to save on gateway charges.
Create a QR code menu for your restaurant in 5 minutes with DineCard.
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