Adyen vs TransFi (2026): Which Is Better for Receiving International Payments in India?
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
- Published:
- Last modified:
Short answer
The better choice depends on how your clients pay and which documents you need. Neither platform publishes full pricing for Indian users. Adyen is best for large enterprises accepting card and UPI payments from Indian shoppers. TransFi is best for businesses integrating an API for cross-border collections, payouts and fiat-stablecoin conversion in its supported countries.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Not comparable | Neither platform publishes full pricing for Indian users. |
| Invoices around $5,000 | Not comparable | Neither platform publishes full pricing for Indian users. |
| Invoices around $10,000 | Not comparable | Neither platform publishes full pricing for Indian users. |
| Need: large enterprises accepting card and UPI payments from Indian shoppers | Adyen | Adyen is built for this. |
| Need: businesses integrating an API for cross-border collections, payouts and fiat-stablecoin conversion in its supported countries | TransFi | TransFi is built for this. |
How do Adyen and TransFi compare at a glance?
| Attribute | Adyen | TransFi |
|---|---|---|
| Best for | Large enterprises accepting card and UPI from Indian shoppers | Businesses using an API for collections, payouts and stablecoin conversion |
| Fees | Indicative $0.13/txn + Interchange++ + 0.60% for cards; custom pricing | Not published; India not on supported countries list |
| FX markup | Not confirmed: reference rate + contract-set FX fee, not published | Not confirmed; no FX markup published |
| Settlement | INR local payout, up to two days; export timing unpublished | Not confirmed for India |
| FIRA | Not confirmed: no FIRA or FIRC provision published | Not confirmed; not mentioned on official pages |
| Currencies | Fees in USD; multi-currency bank accounts; accepts INR from Indian shoppers | States 40+ currencies, 100+ tokens; INR not confirmed |
| RBI status | States PA-Online and PA-CB-Outward; not independently confirmed | Not confirmed; no RBI authorisation documented |
| Indian individuals | Not confirmed: no offering for Indian individuals | Not confirmed; India not on supported list |
| Indian businesses | Domestic acquiring yes; export receipts not confirmed | Not confirmed; India not on supported list |
| Limits | Not confirmed | Not confirmed; KYB levels are triggered by per-transaction, daily or monthly cumulative thresholds, which TransFi asks customers to obtain from their BD Manager or support |
How much INR do you receive on $2,000, $5,000 and $10,000 with Adyen vs TransFi?
Each row applies the platform's published fee, FX markup and GST on the fee to the XE mid-market rate for 3 Nov 2026.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Adyen, $2,000 | – | – | – | Not published | – | Large enterprises accepting card and UPI from Indian shoppers |
| Adyen, $5,000 | – | – | – | Not published | – | Large enterprises accepting card and UPI from Indian shoppers |
| Adyen, $10,000 | – | – | – | Not published | – | Large enterprises accepting card and UPI from Indian shoppers |
| TransFi, $2,000 | – | – | – | Not published | – | Businesses using an API for collections, payouts and stablecoin conversion |
| TransFi, $5,000 | – | – | – | Not published | – | Businesses using an API for collections, payouts and stablecoin conversion |
| TransFi, $10,000 | – | – | – | Not published | – | Businesses using an API for collections, payouts and stablecoin conversion |
What is Adyen and who is it for?
Adyen is a Netherlands-headquartered payment platform for enterprise merchants. Its India page states it has operated in India since 2018 and holds RBI authorisations for domestic online payments and cross-border outward payments, which cover global brands collecting INR from Indian shoppers. It does not publish a product for Indian freelancers or exporters to receive foreign client payments into an Indian bank account.
- Regulated by: States it holds RBI authorisations for domestic (PA-Online) and cross-border outward (PA-CB-Outward) payments; not independently confirmed on an RBI list
- Used by: Indian businesses can use Adyen for domestic online acquiring (PA-Online, as stated by Adyen); use for receiving export payments from foreign clients is not confirmed
- Best for: Large enterprises accepting card and UPI payments from Indian shoppers
What is TransFi and who is it for?
TransFi is a cross-border payments infrastructure company offering collections, payouts, treasury and fiat-to-stablecoin conversion through an API and business products such as BizPay and Checkout. It routes payments over stablecoin rails and supports digital assets such as USDT and USDC. India does not appear on the Supported Countries list in its developer documentation (updated 4 August 2026), so it is not a confirmed route for Indian residents receiving money from abroad.
- Regulated by: Not confirmed; TransFi's policy page lists an affiliate, Trans-Fi India Private Limited, but documents no RBI authorisation
- Used by: Not confirmed for Indian businesses. India is not on the Supported Countries list in the developer documentation, although the homepage mentions India in a South Asia section.
- Best for: Businesses integrating an API for cross-border collections, payouts and fiat-stablecoin conversion in its supported countries
How do Adyen and TransFi fees and FX markup compare?
What does Adyen charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: International card payments (Visa/Mastercard) via online checkout | $0.13 + Interchange++ + 0.60% (indicative, global pricing page) | Availability for an Indian exporter collecting from foreign cardholders is not confirmed | Large enterprises accepting card and UPI from Indian shoppers |
| Receiving: Local bank transfer account details for foreign clients | Not confirmed | Not offered as a published product for Indian recipients | Large enterprises accepting card and UPI from Indian shoppers |
| Currency conversion to INR | Not confirmed: Adyen converts at its FX reference rate plus an FX management fee (spread); how the spread is calculated is set in the merchant's contract and by default differs by currency category (USD category one, INR category two); no figure is published | When foreign currency is converted | Large enterprises accepting card and UPI from Indian shoppers |
| Payout to an Indian bank | Adyen's payout currency docs list INR as the settlement currency for its India acquiring connection, with funds held in India and paid out locally, and say INR can only be paid out to a local bank account in India (SWIFT payouts are not supported for INR). Payout fees and any route for export proceeds are not published. | When INR is sent to your account | Large enterprises accepting card and UPI from Indian shoppers |
| Setup or monthly fee | None, per pricing page | – | Large enterprises accepting card and UPI from Indian shoppers |
| Minimum invoice | Depends on industry or business model (not published) | – | Large enterprises accepting card and UPI from Indian shoppers |
| American Express | $0.13 + 3.95% global (indicative) | – | Large enterprises accepting card and UPI from Indian shoppers |
| UPI | $0.13 + defined by funding source used (India pricing page, indicative) | – | Large enterprises accepting card and UPI from Indian shoppers |
| RuPay | $0.13 + on request (India pricing page) | – | Large enterprises accepting card and UPI from Indian shoppers |
| GST on fees | Adyen's help centre lists Adyen India service invoices with GST: 'GST rate 18% if the merchant is in Maharashtra. Or CGST of 9% and SGST of 9% if the merchant is located outside Maharashtra', as worded on the page. Either way the total is 18% on Adyen's service fees. | Applies to the platform's fee | Large enterprises accepting card and UPI from Indian shoppers |
What does TransFi charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Virtual account (IBAN) for bank transfers, e.g. EUR | Not confirmed | Documented for supported countries; availability to Indian residents not confirmed | Businesses using an API for collections, payouts and stablecoin conversion |
| Receiving: Local payment methods (bank transfer, cards, wallets) via payin order | Not confirmed | Funds land on the TransFi balance in the chosen currency, which can be a stablecoin | Businesses using an API for collections, payouts and stablecoin conversion |
| Receiving: Crypto or stablecoin deposit address | Not confirmed | – | Businesses using an API for collections, payouts and stablecoin conversion |
| Currency conversion to INR | Not confirmed; no FX markup is published | When foreign currency is converted | Businesses using an API for collections, payouts and stablecoin conversion |
| Payout to an Indian bank | Not confirmed. TransFi documents settlement from the TransFi balance to a bank account but publishes no INR payout route or cost for Indian recipients. | When INR is sent to your account | Businesses using an API for collections, payouts and stablecoin conversion |
| Account and transaction fees | As agreed between TransFi and the customer; not published | – | Businesses using an API for collections, payouts and stablecoin conversion |
| GST on fees | Not confirmed; no GST treatment is stated | Applies to the platform's fee | Businesses using an API for collections, payouts and stablecoin conversion |
How do Adyen and TransFi compare on settlement speed?
- Adyen: Adyen's docs list INR as the settlement currency for its India acquiring connection, paid out locally to a bank account in India, and say payouts can take up to two days to arrive depending on the currencies and banks involved; no timeline for export receipts is published
- TransFi: Not confirmed for India; TransFi states collected money lands on the TransFi balance, ready to pay out, swap or settle to a bank account, but no India settlement time is stated
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Adyen | INR local payout, up to two days; export timing unpublished | INR to local Indian bank account only; payout fees not published | Large enterprises accepting card and UPI from Indian shoppers |
| TransFi | Not confirmed for India | Not confirmed; no INR payout route published | Businesses using an API for collections, payouts and stablecoin conversion |
Do Adyen and TransFi provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Adyen | Not confirmed: no FIRA or FIRC provision published | States PA-Online and PA-CB-Outward; not independently confirmed | 30 Sept 2026 | Large enterprises accepting card and UPI from Indian shoppers |
| TransFi | Not confirmed; not mentioned on official pages | Not confirmed; no RBI authorisation documented | 30 Sept 2026 | Businesses using an API for collections, payouts and stablecoin conversion |
Which currencies, countries and payment methods do Adyen and TransFi support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Adyen | Fees in USD; multi-currency bank accounts; accepts INR from Indian shoppers | International card payments (Visa/Mastercard) via online checkout; Local bank transfer account details for foreign clients | Not confirmed: no offering for Indian individuals | Domestic acquiring yes; export receipts not confirmed | Large enterprises accepting card and UPI from Indian shoppers |
| TransFi | States 40+ currencies, 100+ tokens; INR not confirmed | Virtual account (IBAN) for bank transfers, e.g. EUR; Local payment methods (bank transfer, cards, wallets) via payin order; Crypto or stablecoin deposit address | Not confirmed; India not on supported list | Not confirmed; India not on supported list | Businesses using an API for collections, payouts and stablecoin conversion |
What are the strengths and limitations of Adyen and TransFi?
Adyen
- Pricing transparency: Interchange++ model with published indicative scheme markup
- India presence: States local operations since 2018 and its own RBI authorisations
- Payment methods: UPI, cards and local rails for Indian shoppers
- Scale: Built for enterprise merchants with high volumes
- Not for export receipts: Published RBI authorisation is PA-CB-Outward (Indian shoppers paying foreign merchants), not inward export collection
- Enterprise focus: Minimum invoice depends on industry or business model; onboarding through sales
- No individuals: No published route for Indian freelancers or individuals
- Opaque totals: interchange varies per card, published fees are labelled indicative, and the FX management spread is set in the contract rather than published
TransFi
- Collection options: Supports bank transfers, cards, local wallets, virtual accounts and crypto deposits in supported countries
- Stablecoin rails: Converts between fiat and digital assets within one platform
- API-first: Developer documentation covers collections, payouts, settlements and webhooks
- Registration disclosed: TransFi Canada Inc. states a FINTRAC Money Service Business registration (M24519990)
- India coverage: India is not on the Supported Countries list in TransFi's developer documentation
- Pricing: No public fee schedule or FX markup; fees are agreed per customer
- India compliance: No FIRA/FIRC, purpose code handling for Indian exports or RBI authorisation is documented
- Digital assets: Flows that involve crypto or stablecoins may not suit Indian exporters who need standard inward remittance documentation
Should you choose Adyen or TransFi?
- Choose Adyen if: you need large enterprises accepting card and UPI payments from Indian shoppers.
- Choose TransFi if: you need businesses integrating an API for cross-border collections, payouts and fiat-stablecoin conversion in its supported countries.
For example, an exporter billing $5,000 a month: Neither platform publishes full pricing for Indian users.
Which other platforms should you consider besides Adyen and TransFi?
Other covered platforms ranked by the INR received on a $5,000 invoice.
| Platform | Fees | FX markup | FIRA | INR on $5,000 | Best for |
|---|---|---|---|---|---|
| Skydo | $19 up to $2,000, $29 to $10,000, 0.3% above + GST | States zero FX margin at live rate | States instant, free FIRA per payment | ₹4,69,991 | Indian freelancers and exporters receiving mid to large B2B invoices |
| Razorpay | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST | States 0% markup on MoneySaver at live rate | FIRS within 24 hours of settlement; no charge listed | ₹4,67,646 | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Kotak Mahindra Bank | No inward, FIRC, SWIFT fee on current accounts; GST on conversion | Card rate, markup not published; 1.71% below mid-market on 7 Oct 2026 | Nil FIRC on current accounts; savings Rs 100 or nil | ₹4,64,631 | Service exporters wanting a current account without inward remittance fees |
| HDFC Bank | No inward charge; physical FIRC INR 200 + taxes; GST on conversion | Card rate ~1.79% below mid-market on 6 Oct 2026; markup unpublished | Physical FIRC INR 200; emailed advice free for trade | ₹4,64,253 | Existing HDFC customers wanting free SWIFT receipts or EEFC accounts |
How did we verify this?
Fees, FIRA terms and RBI status were checked on each platform's own pages and RBI sources on 30 Sept 2026. INR figures use the XE mid-market rate for 3 Nov 2026. The formula is on the methodology page.
- Adyen India, Established in India since 2018; RBI PA-Online and PA-CB-Outward authorisations (checked 7 Oct 2026)
- Adyen pricing (India), Indicative fees: $0.13 fixed; Visa/Mastercard Interchange++ + 0.60%; Amex 3.95%; UPI defined by funding source; RuPay on request; minimum invoice depends on industry or business model; the fees outlined above are indicative; no monthly, set-up, integration or closure fees (checked 7 Oct 2026)
- Adyen pricing (global), Fixed processing fee plus payment-method fee; no setup or monthly fees; minimum invoice depends on industry (checked 6 Oct 2026)
- India expansion made easy, Accept online payments in INR from Indian shoppers with Adyen's own RBI licences (checked 6 Oct 2026)
- Adyen Visa payment method (India), Visa: $0.13 + Interchange+ + 0.60%; no monthly fees, set-up fees, integration fees or closure fees; INR not listed among settlement currencies (checked 7 Oct 2026)
- Adyen currency codes and FX management fee, Adyen applies a foreign currency exchange rate when a currency conversion takes place (FX reference rate) and charges an FX management fee, or spread, which by default differs based on the currency category; category one: AUD, CAD, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, USD, ZAR; category two: all other currencies; how this fee is calculated is included in your contract with Adyen (checked 7 Oct 2026)
- What kind of tax is applied to my invoice? (Adyen), Adyen India: GST rate 18% if the merchant is in Maharashtra. Or CGST of 9% and SGST of 9% if the merchant is located outside Maharashtra (checked 7 Oct 2026)
- Adyen Docs: Supported payout currencies, India (IN): settlement currency INR, funds held in India, local payout; certain currencies can only be paid out to a local bank account within a country or region where that currency is the official legal tender: BRL, INR, MYR, MXN, and AED; SWIFT payouts are not supported for these currencies (checked 7 Oct 2026)
- Adyen Docs: Getting paid, Depending on the currencies and banks involved, it may take up to two days for the payout funds to arrive in your account; like-for-like (no currency conversion) settlement if the currency is also supported as a settlement currency by the payment method (checked 7 Oct 2026)
- TransFi homepage, 40+ currencies, 130+ digital assets; South Asia section (checked 6 Oct 2026)
- TransFi Docs: Supported Countries, Country list, updated 2026-08-04; India not listed (checked 6 Oct 2026)
- TransFi Docs: Collections, Four ways to collect; funds land on TransFi balance, ready to pay out, swap or settle to bank (checked 6 Oct 2026)
- TransFi Docs: Collect via a Virtual Account (checked 6 Oct 2026)
- TransFi Docs: Collect with a Local Payment Method (checked 6 Oct 2026)
- TransFi Docs: KYB levels for Business User (checked 6 Oct 2026)
- TransFi Compliance Policies, FINTRAC MSB M24519990; Annexure A group entities (checked 6 Oct 2026)
- TransFi Business Services Agreement, Definition of Fees (checked 6 Oct 2026)
- TransFi Payment Methods, 40+ currencies and 100+ tokens; 100+ countries (checked 6 Oct 2026)
FAQs about Adyen vs TransFi
Is Adyen or TransFi cheaper for receiving USD in India?
Neither platform publishes full pricing for Indian users. At $2,000: Neither platform publishes full pricing for Indian users. At $10,000: Neither platform publishes full pricing for Indian users. Figures use each platform's published pricing and today's reference rate, so check both pricing pages before you decide.
Which is faster, Adyen or TransFi?
Adyen states: Adyen's docs list INR as the settlement currency for its India acquiring connection, paid out locally to a bank account in India, and say payouts can take up to two days to arrive depending on the currencies and banks involved; no timeline for export receipts is published.
Do Adyen and TransFi both provide a FIRA?
Adyen: Not confirmed: no FIRA or FIRC provision is published. TransFi: Not confirmed; no FIRA or FIRC is mentioned on TransFi's official pages. A FIRA or FIRC is used as proof of export for GST refunds and income tax records, so confirm how each platform issues it before you invoice.
Are Adyen and TransFi authorised by RBI?
Adyen: States it holds RBI authorisations for domestic (PA-Online) and cross-border outward (PA-CB-Outward) payments; not independently confirmed on an RBI list. TransFi: Not confirmed; TransFi's policy page lists an affiliate, Trans-Fi India Private Limited, but documents no RBI authorisation. Check the platform's own pricing page before relying on these figures.
Can Indian freelancers use both Adyen and TransFi?
Adyen, individuals: Not confirmed: Adyen does not publish an offering for Indian resident individuals or freelancers TransFi, individuals: Not confirmed. TransFi's products are aimed at businesses, and India is not on its documented Supported Countries list. Eligibility can change, so confirm on each platform's sign-up pages.
Should I switch from Adyen to TransFi?
Switch only if TransFi pays more on your usual invoice size or fits how your clients pay. Keep the Adyen account open until every invoice sent with its details is paid, and download your FIRA or FIRC records first. Check the platform's own pricing page before relying on these figures.