Top 7 Best Payment Gateway Referral Programs in India 2025
- Himanshu Kumar
- Jun 23
- 8 min read
India’s digital economy is booming, with online transactions projected to reach $10 trillion by 2026. Payment gateways, the technology enabling seamless payments via UPI, cards, and wallets, are at the heart of this growth.
In 2025, leading payment gateways like Razorpay, Cashfree, PhonePe, PayU, Paytm, Easebuzz, and Instamojo offer referral programs that allow individuals and businesses to earn passive income by recommending their services. These programs are low-risk, require minimal investment, and leverage the trust of RBI-approved platforms.
This article explores the top 7 payment gateway referral programs in India for 2025, detailing how they work, their earning potential, terms, and why they’re ideal for freelancers, marketers, and entrepreneurs.
Let’s dive into these opportunities and see how you can turn your network into a revenue stream!
Here are top 7 payment gateway referral programs in India for 2025:
Razorpay Refer and Earn
Razorpay, trusted by over 8 million businesses, offers a robust payment gateway with 100+ payment methods, including UPI, cards, and international payments. Its referral program is designed for freelancers, agencies, and tech providers.
How It Works:
Sign up for the Razorpay Partner Program.
Receive a unique referral link or add sub-merchants via email through the partner dashboard.
Share the link with businesses needing payment solutions.
Earn when referred businesses activate their accounts and meet transaction criteria.
Rewards and Benefits:
Fixed Bonus: Up to ₹500 per successful referral, regardless of transaction volume.
Commissions: Up to 0.1% of the transaction value processed by referred merchants.
Additional Perks: Access to a powerful dashboard for tracking payments, settlements, and refunds; API-driven integrations for platforms like Shopify and WooCommerce; multi-currency support for 100+ currencies; and dedicated account manager support.
Terms:
Referred businesses must be active on Razorpay for at least 3 months.
They must process transactions worth at least ₹2,000 per month.
Partners need a minimum of 3 active referred merchants for commission payouts.
Refunds result in negative commission adjustments.
Minimum Withdrawal:
Not explicitly stated, likely no minimum or standard bank transfer thresholds (e.g., ₹100–₹500).
Why Choose It:
Razorpay’s trusted brand, used by 8 of India’s top 10 unicorns, ensures high referral conversion rates. The clear commission structure and robust support make it ideal for tech-savvy partners targeting diverse businesses.
Learn more about Razorpay refer and earn program.
Cashfree Refer and Earn
Cashfree supports 180+ payment modes and is known for fast payouts and integrations with platforms like Shopify. Its affiliate program targets web agencies, freelancers, and digital marketers.
How It Works:
Register for the Cashfree Affiliate Program.
Use the partner dashboard to share referral links or onboard merchants directly.
Earn commissions on transactions processed by referred businesses.
Rewards and Benefits:
Commissions: 0.25% on UPI transactions (80% of transactions) and up to 0.35% on other payment modes (e.g., cards, net banking).
Additional Perks: Intuitive partner dashboard for tracking earnings, instant client activation, and advanced marketing resources.
Terms:
Earnings are based on the transaction volume of referred merchants.
No specific minimum transaction volume is publicly disclosed, but commissions are tied to merchant activity.
Minimum Withdrawal:
Not specified, likely no minimum for bank transfers.
Why Choose It:
Cashfree’s high commission rates and support for multiple payment modes make it attractive for partners targeting businesses with high UPI usage. The program’s flexibility suits tech startups and agencies.
Learn more about Cashfree refer and earn program.
PhonePe PG Partner Program
PhonePe, with over 500 million users, is a UPI leader offering a secure payment gateway with zero UPI transaction fees. Its partner program is ideal for influencers, local business owners, and digital agencies.
How It Works:
Join the PhonePe PG Partner Program.
Receive a referral link via email after onboarding.
Share the link with businesses needing payment solutions.
Earn commissions on transactions processed by referred merchants.
Rewards and Benefits:
Commissions: 0.20% per transaction made by referred merchants.
Additional Perks: Access to training sessions, onboarding support, exclusive partner events, and tailored marketing materials. PhonePe’s 100% secure platform and high transaction success rates enhance referral appeal.
Terms:
Referred merchants must complete activation on the PhonePe platform.
No specific transaction volume requirements are mentioned.
Minimum Withdrawal:
Not specified, likely no minimum for bank transfers.
Why Choose It:
PhonePe’s massive user base and free UPI transactions make it easy to promote, especially to small businesses. The program’s priority support and resources are valuable for partners with large networks.
PayU Partner Program
PayU, serving 500,000+ merchants, supports 150+ payment modes and excels in e-commerce. Its affiliate program is suited for agencies and bloggers targeting online stores.
How It Works:
Sign up at PayU Partner Program.
Share referral links with businesses needing payment gateways.
Earn rewards for each successful referral.
Rewards and Benefits:
Rewards: Monetary rewards for every successful referral, though specific commission rates are not publicly disclosed.
Additional Perks: Quick API integration, express client onboarding, a self-serve dashboard for tracking earnings and managing clients, dedicated account manager, and access to co-branded marketing materials.
Terms:
Specific terms for referral eligibility are not publicly available.
Partners may need to contact PayU for detailed commission structures.
Minimum Withdrawal:
Not specified, likely standard bank transfer thresholds.
Why Choose It:
PayU’s global reach and features like one-click checkout appeal to e-commerce businesses, making referrals easier. However, the lack of transparent commission rates may require direct inquiry.
Paytm Partner Program
Paytm, trusted by 17 million merchants processing 100 million daily transactions, offers a payment gateway with a 99% success rate. Its partner program targets small shops and startups.
How It Works:
Register at Paytm Partner Program.
Share referral links with businesses.
Earn bonuses and commissions when referred merchants meet transaction thresholds.
Rewards and Benefits:
Bonus: ₹1,000 for each merchant reaching ₹1 lakh/month in transactions.
Commissions: Additional commissions on transactions, rates not publicly disclosed.
Additional Perks: Access to Paytm’s branding, real-time settlements, and a wide range of payment methods, including subscriptions and UPI Lite.
Terms:
For the ₹1,000 bonus, referred merchants must process ₹1 lakh/month in transactions.
Partners must submit invoices for payouts.
Minimum Withdrawal:
Not specified, likely no minimum upon invoice submission.
Why Choose It:
Paytm’s strong brand recognition and high transaction success rate make it easy to promote, especially to small businesses. The fixed bonus provides a clear incentive, though commission details require further inquiry.
Easebuzz Partner Program
Easebuzz, with 2 lakh+ merchants, offers cost-effective payment solutions, including recurring billing, ideal for small businesses and SaaS. Its partner program suits niche markets.
How It Works
Sign up at Easebuzz Partner Program.
Refer businesses to Easebuzz’s payment solutions.
Earn commissions on their transactions.
Rewards and Benefits
Commissions: Earn on transactions of referred merchants, specific rates not publicly disclosed.
Additional Perks: Single dashboard for managing referred merchants, automated split settlements, dedicated relationship manager, and 24/7 technical support.
Terms
Specific eligibility criteria for commissions are not publicly available.
Minimum Withdrawal
Not specified, likely standard bank transfer thresholds.
Why Choose It:
Easebuzz’s low fees and subscription billing features appeal to startups and small businesses. The partner portal’s transaction insights are valuable, but unclear commission rates require direct contact.
Instamojo Partner Program
Instamojo powers 2 million+ businesses with a free payment gateway and e-commerce tools. Its partner program is ideal for freelancers and digital marketers targeting startups.
How It Works:
Register at Instamojo Partner Program.
Choose between two models: one-time payment per referral or recurring commissions on transactions.
Share referral links or integrate payment solutions for clients.
Rewards and Benefits:
Earnings: One-time payment or recurring commissions per transaction; top partners can earn up to ₹300,000/month on average. Specific rates are not publicly disclosed.
Additional Perks: Access to a partner portal, demo account, certifications, express KYC approval, and marketing collaterals. Clients benefit from no setup or maintenance fees.
Terms:
Specific terms for referral eligibility are not publicly available.
Minimum Withdrawal:
Not specified, likely no minimum for bank transfers.
Why Choose It:
Instamojo’s social media payment integration (e.g., WhatsApp) and free gateway make it attractive for small sellers. The high earning potential is appealing, but unclear rates necessitate contacting channelpartners@instamojo.com.
Learn more about Instamojo Refer and Earn Program.
Benefits of Joining Payment Gateway Referral Programs
Referral programs offer several advantages, making them an attractive side hustle:
Passive Income: Earn rewards with minimal effort by sharing referral links.
Credibility Boost: Associating with trusted brands like Razorpay or Paytm enhances your reputation.
Business Growth Support: Help businesses improve their payment processes, fostering their digital success.
Network Expansion: Connect with more businesses, growing your professional reach.
Additional Revenue: Create a new income stream without significant upfront costs.
Tips to Succeed in Payment Gateway Referral Programs
Create Content: Write blogs or reviews about payment gateways, embedding referral links.
Network Locally: Pitch to local shops or startups needing digital payment solutions.
Stay Updated: Monitor platforms for bonus campaigns or updated terms.
Promote Trusted Platforms: Recommend only reliable gateways to maintain credibility.
Why These Programs in 2025?
India’s digital payment market is thriving, driven by UPI adoption and e-commerce growth. These programs stand out because:
Trusted Brands: All are RBI-approved, ensuring reliability.
Diverse Payment Modes: Support UPI, cards, and wallets, meeting customer preferences.
Easy Integrations: Plugins for Shopify, WooCommerce, and APIs simplify adoption.
High Rewards: Payouts up to ₹5,000 per referral offer significant earning potential.
Market Demand: With businesses digitizing, payment gateways are in high demand.
Conclusion
Payment gateway referral programs are a low-effort way to earn passive income in India’s digital economy. Whether you choose Razorpay’s high payouts, PhonePe’s brand power, or Instamojo’s simplicity, there’s a program for every network. Start by selecting one or two programs, share your links strategically, and watch your earnings grow.
With India’s fintech sector expanding, now is the perfect time to tap into these opportunities and help businesses thrive online.
Pick a program and start referring today!
FAQs
What is a Payment Gateway Referral Program?
A Payment Gateway Referral Program allows individuals or businesses to earn incentives by referring new merchants or clients to use a specific payment gateway service.
How does a Payment Gateway Referral Program work?
Once you sign up as a referral partner, you get a unique link. You share this link with businesses, and when those businesses sign up and start processing payments, you earn a commission or bonus.
Who can join a Payment Gateway Referral Program?
Anyone can join — web agencies, digital marketers, SaaS companies, influencers, or freelancers — as long as you have businesses or connections that accept online payments.
How much can I earn from a Payment Gateway Referral Program?
Earnings vary between platforms — bonuses range from ₹500–₹1,000 per successful referral, and recurring commissions range from 0.1–0.35% of transaction volumes.
When do I get paid in a Payment Gateway Referral Program?
Payments are typically credited on a monthly basis after your referrals become active and reach specific transaction milestones.
is the best Payment Gateway Referral Program in India?
It depends on your target audience — Razorpay, Cashfree, and PhonePe are popular for high commissions, while Easebuzz and Instamojo appeal to smaller businesses and startups.
What is referral code for Instamojo?
Instamojo referral code is REFERKAROEARNKAROee19.
