Wise, Stripe or Razorpay: Cheaper Ways to Get Paid Than PayPal in India

Platforms named in the question are shown alongside the 2 highest payouts among the platforms this site covers, ranked by the INR received on a $5,000 invoice. Fees were checked on 30 Sept 2026.

Wise, Stripe and Razorpay are the PayPal alternatives this page covers, and each one sets different sign-up rules for Indian residents. PayPal accepts resident individuals and Indian businesses, Wise offers receiving only to business customers, Stripe is invite only and excludes individuals, and Razorpay ties its export account to listed purpose codes. The table below uses each platform's own pages as checked on 6 October 2026. See also Wise vs PayPal, PayPal vs Stripe and PayPal vs Razorpay.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the XE mid-market rate for 3 Nov 2026. Platforms without full published pricing are not included.

For example, on a $2,000 invoice Skydo pays about ₹1,87,445 and PayPal about ₹1,74,258 at today's reference rate, a difference of ₹13,187.

The same export documents and GST rules apply whichever platform collects the money, because they attach to the export itself. A service is an export of services under IGST Act s.2(6) when the supplier is in India, the recipient and place of supply are outside India, payment is received in convertible foreign exchange or permitted INR, and the two are not merely establishments of a distinct person. Under RBI PA directions para 11(h), a cross-border payment aggregator must give your AD bank the documents needed to close EDPMS entries. See FIRC vs FIRA vs e-BRC for the differences between proof documents.

The FEMA (Export and Import of Goods and Services) Regulations, 2026 came into force on 1 October 2026 and changed export realisation and reporting for every exporter, whichever platform collects. A.P. (DIR Series) Circular No. 20 superseded the Master Direction on Export of Goods and Services from the same date. The EDF guide explains the filing steps.

• New regulations: FEMA 23(R)/2026-RB applies to export receipts from 1 October 2026 (FEMA Regulations 2026).
• Realisation: Service export proceeds must be realised within nine months of the invoice date, or twelve months if invoiced or settled in INR. A 22 September 2026 amendment set nine months in place of fifteen (Reg 5).
• EDF: Service exporters file an EDF within 30 days from the end of the invoice month (Reg 3(2)).
• SOFTEX: Circular No. 20 superseded the SOFTEX circulars from 1 October 2026 (Circular No. 20). The 2026 Regulations treat software as a service, so software exports are declared on the EDF (Reg 2(1) and Reg 3(2)).
• EDPMS: Entries for invoices up to Rs 10 lakh can be closed on the exporter's declaration, including quarterly bulk declarations (Reg 4(2)).

Every rule is linked to its official source below with the date it was checked. Platform figures come from each platform's own pages; the full method is on the methodology page.

1. RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (Notification FEMA 23(R)/2026-RB, amended up to 22 September 2026), Reg 1(2) commencement; Reg 2(1) Explanation (services include software); Reg 3(2) EDF for services; Reg 4(2) EDPMS closure up to Rs 10 lakh; Reg 5 realisation period; Reg 18(2) FETERS (checked 6 Oct 2026)
2. RBI: A.P. (DIR Series) Circular No. 20 (RBI/2025-26/194), Export and Import of Goods and Services directions, Para 4 supersession of Master Directions and Annex circulars (including SOFTEX circulars); para 7 in force from 1 October 2026 (checked 6 Oct 2026)
3. RBI: Master Direction on Regulation of Payment Aggregator (PA), 15 September 2025, Para 4 definition of PA-CB; para 11(h) documents for EDPMS closure (checked 6 Oct 2026)
4. RBI: A.P. (DIR Series) Circular No. 84, Compilation of R-Returns: Reporting under FETERS, FETERS purpose code reporting (checked 6 Oct 2026)
5. CBIC: IGST Act 2017, Section 2 (Definitions), Section 2(6)(i) to (v) export of services (checked 6 Oct 2026)
6. CBIC: IGST Act 2017, Section 16 (Zero rated supply), Section 16(1) (checked 6 Oct 2026)
7. CBIC: CGST Rules 2017, Rule 96A (Export under bond or Letter of Undertaking), Rule 96A(1), FORM GST RFD-11 (checked 6 Oct 2026)
8. PayPal India User Agreement, Opening an account (residency and age); Export Payment Services (checked 6 Oct 2026)
9. Wise India: Fees for receiving money, Receiving money feature is currently available only for business customers (checked 6 Oct 2026)
10. Wise India: Receive money from abroad in India, Which company types are eligible? (checked 6 Oct 2026)
11. Stripe Docs: Accept international payments from India, Invite only; requirements (registered Indian business, not an individual; IEC) (checked 6 Oct 2026)
12. Razorpay Docs: International Bank Transfer (MoneySaver Export Account), Onboarding business types; export purpose code requirement (checked 6 Oct 2026)
13. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
14. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
15. Kotak Everyday Savings Account fees and charges, Foreign Inward Remittance certificate (Branch Request) INR 100/Request; GST on Foreign Currency Conversion; fees exclusive of GST (checked 6 Oct 2026)
16. Wise India: Fees for receiving money (Business), Conversion fee depends on the currency; eFIRC for every transfer; GST 18% of (conversion fee + eFIRC fee); calculator (checked 6 Oct 2026)
17. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
18. PayPal India Merchant Fees, Receiving international transactions; Currency Conversions (3.0% converting balance and payments received; 4.00% all other cases); Withdrawals Out of PayPal; Dispute Fees; Other Fees (Last Updated 28 March 2024) (checked 6 Oct 2026)