12 Best PhonePe Alternatives & Competitors (2026)

Stripe is a global payment infrastructure platform popular with SaaS and marketplaces. It excels at subscriptions, international cards and multi-currency payouts with strong developer APIs. Compared to Razorpay, Stripe offers weaker native UPI and Rupay coverage in India and lacks built-in payroll automation, making it less ideal for purely domestic Indian merchants but stronger for cross-border startups that need global settlement without an Indian entity.

Square provides simple POS and online payments popular outside India. Its hardware and ease of use are strengths, but it has almost no support for Indian local rails like UPI or Rupay. Merchants rarely choose it as a direct Razorpay replacement unless they primarily serve international customers and need basic card acceptance.

Stripe is a global payment infrastructure platform popular with SaaS and marketplaces. It excels at subscriptions, international cards and multi-currency payouts with strong developer APIs. Compared to Razorpay, Stripe offers weaker native UPI and Rupay coverage in India and lacks built-in payroll automation, making it less ideal for purely domestic Indian merchants but stronger for cross-border startups that need global settlement without an Indian entity.

Adyen is an enterprise-grade global processor with unified commerce capabilities. It supports many local methods worldwide and offers advanced reporting. Indian businesses evaluating it against Razorpay typically need heavy international volume; Adyen lacks Razorpay's deep local payroll and India-specific banking features but provides superior multi-country orchestration.

Policybazaar is India's largest online insurance marketplace allowing agents and partners to refer life, health and general insurance policies. It offers a broad product catalog beyond GroMo's banking focus and provides partner dashboards plus marketing support. Unlike GroMo's instant payout model and free advisor certification, Policybazaar commissions are typically released monthly and training is more insurance-specific. It suits users wanting higher-ticket insurance sales but may feel less flexible for pure side-income seekers preferring credit cards and loans.

PayU is an established Indian payment gateway focused on cards, netbanking and emerging UPI options. It offers competitive pricing for high-volume merchants and simpler integration than Razorpay for basic checkout flows. However it provides fewer banking and payroll add-ons, making it a lighter alternative for businesses that only need core payment acceptance without Razorpay's full financial stack.

Policybazaar is India's largest online insurance marketplace allowing agents and partners to refer life, health and general insurance policies. It offers a broad product catalog beyond GroMo's banking focus and provides partner dashboards plus marketing support. Unlike GroMo's instant payout model and free advisor certification, Policybazaar commissions are typically released monthly and training is more insurance-specific. It suits users wanting higher-ticket insurance sales but may feel less flexible for pure side-income seekers preferring credit cards and loans.

Paisabazaar helps users compare and apply for credit cards, personal loans and insurance. Partners can earn by referring customers through their platform. It overlaps with GroMo on credit and loan products yet lacks GroMo's zero-investment instant payout promise and dedicated training academy. Paisabazaar is stronger for users already in finance sales who want established brand trust, while GroMo appeals more to complete beginners seeking quick home-based earnings.

Braintree, a PayPal service, focuses on developer-friendly payments with PayPal and card support. It is used by marketplaces needing flexible payouts. Versus Razorpay it has minimal India method coverage beyond cards and no local compliance tools, so it appeals mainly to Indian startups already operating on global infrastructure.

CCAvenue is one of India's oldest payment gateways with broad local bank support and customizable checkout. It is often chosen by larger Indian retailers seeking proven reliability. Relative to Razorpay it has less emphasis on modern UPI experiences and no native payroll or current account features, positioning it as a traditional alternative for merchants prioritizing bank relationships over fintech automation.

Groww is a direct mutual fund and stock investing app that runs a partner program for demat accounts and investments. It provides clean UI and educational content similar to GroMo's training modules. However, Groww payouts are usually monthly and the focus stays on investments rather than GroMo's wider mix of credit cards and loans. Users who prefer long-term wealth products may choose Groww over GroMo's commission-on-sale model.