Airwallex vs Dodo Payments (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. Airwallex is best for registered Indian companies that want multi-currency collection accounts and also pay suppliers globally. Dodo Payments is best for Indian founders selling SaaS, AI tools, templates and other digital products to buyers worldwide.
| 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: registered Indian companies that want multi-currency collection accounts and also pay suppliers globally | Airwallex | Airwallex is built for this. |
| Need: Indian founders selling SaaS, AI tools, templates and other digital products to buyers worldwide | Dodo Payments | Dodo Payments is built for this. |
How do Airwallex and Dodo Payments compare at a glance?
| Attribute | Airwallex | Dodo Payments |
|---|---|---|
| Best for | Registered Indian companies collecting multi-currency and paying suppliers globally | Indian founders selling SaaS and digital products worldwide |
| Fees | No USD receive fee; free local payouts; Explore plan no monthly fee | 4% + 40c + other fees; payout $5 below $1,000, $25 SWIFT |
| FX markup | 0.60% for INR (0.40% majors), Singapore schedule; India rate not confirmed | No INR conversion; Indian bank converts USD at its rate |
| Settlement | States ~90% processed within hours to one business day | Bi-monthly payouts by default; usually 1-2 business days to arrive |
| FIRA | No auto FIRA; FIRC on request; partner fee may apply | Not confirmed |
| Currencies | Receive 20+ currencies from 70+ countries; INR payouts to India | Customers pay in 80+ currencies; payouts in USD, GBP, EUR only |
| RBI status | Not confirmed; not on RBI list, no PA-CB claim | Not confirmed |
| Indian individuals | No, registered businesses only | Yes, with PAN and ID, digital products |
| Indian businesses | Yes, via Airwallex Singapore, subject to checks | Yes, registered entities after KYB |
| Limits | Airwallex states most accounts have no deposit limit; transfer limits vary by method and are shown when creating a transfer. India-specific limits Not confirmed. | Minimum payout threshold of $100 by default, adjustable to $50 or above, applied to the combined USD, GBP and EUR balance; up to three linked payout accounts; payouts start only after all verifications are approved. Transaction limits: Not confirmed. |
How much INR do you receive on $2,000, $5,000 and $10,000 with Airwallex vs Dodo Payments?
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 |
|---|---|---|---|---|---|---|
| Airwallex, $2,000 | – | – | – | Not published | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Airwallex, $5,000 | – | – | – | Not published | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Airwallex, $10,000 | – | – | – | Not published | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Dodo Payments, $2,000 | – | – | – | Not published | – | Indian founders selling SaaS and digital products worldwide |
| Dodo Payments, $5,000 | – | – | – | Not published | – | Indian founders selling SaaS and digital products worldwide |
| Dodo Payments, $10,000 | – | – | – | Not published | – | Indian founders selling SaaS and digital products worldwide |
What is Airwallex and who is it for?
Airwallex is a global business account provider that issues local collection account details (Global Accounts) in 20+ currencies. Its help centre lists India as an eligible business registration country, with Indian businesses onboarded to the Airwallex Singapore entity. An Indian company can collect foreign client payments into a Global Account, convert to INR and send the money to its Indian bank account by local transfer.
- Regulated by: Not confirmed. Airwallex is not on the RBI list of payment system authorisations dated 30 Sep 2026, and its pages make no PA-CB claim
- Used by: Yes. India is listed as an eligible registration country, with Indian businesses onboarded to Airwallex Singapore, subject to industry and risk checks
- Best for: Registered Indian companies that want multi-currency collection accounts and also pay suppliers globally
What is Dodo Payments and who is it for?
Dodo Payments is a merchant of record platform: it acts as the legal seller of a merchant's digital product, collects payment from the end customer, and handles sales tax, VAT and GST, billing and invoicing; merchants get dispute tools but chargeback liability stays with the merchant. Indian creators and businesses list their product, Dodo sells it to customers abroad, and the net revenue after tax and fees is paid out from a USD, GBP or EUR balance to the merchant's linked bank account. It does not provide local account details for receiving client bank transfers or invoice payments for services.
- Regulated by: Not confirmed
- Used by: Yes. Registered Indian entities complete KYB (incorporation document, business PAN or GSTIN, director and beneficial owner IDs) and link a bank account in the company's legal name.
- Best for: Indian founders selling SaaS, AI tools, templates and other digital products to buyers worldwide
How do Airwallex and Dodo Payments fees and FX markup compare?
What does Airwallex charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: USD local account details in the US (ACH, Fedwire) | 0% Global Account receiving fee | FedNow and RTP only for eligible customers | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Receiving: SWIFT into a Global Account (USD, EUR, GBP and others) | 0% Global Account receiving fee | Intermediary bank charges are Not confirmed | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Receiving: Local GBP, EUR, SGD, AUD, CAD and other local account details | 0% for most currencies (0.60% for KRW, VND, BRL and MYR collections) | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Receiving: Online card payments | 3.60% + SGD 0.50 for international cards (Singapore schedule) | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Currency conversion to INR | 0.60% customer mark-up for INR (0.40% for major currencies such as USD, EUR, GBP), included in the exchange rate, per the Singapore fee schedule; optional API quote-lock premiums of 0.02% to 0.30% are extra; India-specific rate Not confirmed | When foreign currency is converted | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Payout to an Indian bank | Convert the balance to INR with the 0.60% customer mark-up included in the rate and send by local transfer to the Indian bank account; the local payout fee is $0. SWIFT payouts cost SGD 20 (SHA) or SGD 35 (OUR). | When INR is sent to your account | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Explore plan | Free | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Grow plan | SGD 79/month | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Accelerate plan | From SGD 399/month | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| SWIFT payout | SGD 20 (SHA) or SGD 35 (OUR) per payout | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| FIRC | May be charged by the banking partner; quoted by support on request | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Extra spend users | SGD 5 per additional active spend user per month (5 free) | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| API FX quote validity premium (optional, API version 2024-06-30 or later) | 0.02% (1 minute) to 0.30% (24 hours), added to the FX mark-up | – | Registered Indian companies collecting multi-currency and paying suppliers globally |
| GST on fees | The Singapore fee schedule states fees are exclusive of GST where applicable. Whether Indian GST applies to Indian customers is Not confirmed. | Applies to the platform's fee | Registered Indian companies collecting multi-currency and paying suppliers globally |
What does Dodo Payments charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: International card and wallet payments via Dodo checkout | 4% + 40c, plus 1.5% for cards and APMs outside the US | Calculated on the total amount including sales tax. Plus 0.5% for subscriptions or usage-based billing; plus 3% for BNPL or PayPal | Indian founders selling SaaS and digital products worldwide |
| Receiving: US ACH direct debit (one-time payments) | 1.5%, capped at $15 per transaction | Replaces the card fee; the international and subscription surcharges do not apply | Indian founders selling SaaS and digital products worldwide |
| Receiving: SEPA direct debit | 1.5%, capped at EUR 15 per transaction | Replaces the card fee; the international and subscription surcharges do not apply | Indian founders selling SaaS and digital products worldwide |
| Receiving: Indian UPI, RuPay and Indian cards (INR) | 4% + 15c (+international payment fees) | – | Indian founders selling SaaS and digital products worldwide |
| Receiving: Bank push transfer initiated by the customer | Priced as a standard transaction (4% + 40c plus applicable surcharges) | Dodo does not offer local receiving account details for client invoice payments | Indian founders selling SaaS and digital products worldwide |
| Currency conversion to INR | No INR conversion by Dodo: payouts are sent in USD, GBP or EUR and the receiving Indian bank converts at its own rate; the pricing page says standard FX applies on non-USD settlements, and the 2-4% Adaptive Currency FX fee is charged to the buyer at checkout, not on the payout | When foreign currency is converted | Indian founders selling SaaS and digital products worldwide |
| Payout to an Indian bank | Net revenue (after tax, Dodo fees, refunds and disputes) is paid from the USD, GBP or EUR wallets to a bank account in the merchant's own name. Per the payouts documentation, each payout account is registered for a currency and transfer method: an international SWIFT wire is typically credited in USD with the USD SWIFT payout fee ($25 on the pricing page) deducted, a local bank transfer is credited in local currency with no per-wire fee, and a Payoneer receiving account is treated as a regular bank account. Available methods vary by country and the documentation does not say whether a local INR route is offered for Indian accounts. A $5 fee applies to payouts below $1,000. When a USD transfer reaches an INR account, the Indian bank converts at its own rate and it and any intermediary banks may deduct charges that do not appear on Dodo's payout invoice. | When INR is sent to your account | Indian founders selling SaaS and digital products worldwide |
| Refund | $1 per refund | – | Indian founders selling SaaS and digital products worldwide |
| Dispute | $30 per dispute | – | Indian founders selling SaaS and digital products worldwide |
| Visa RDR | $18 per dispute | – | Indian founders selling SaaS and digital products worldwide |
| Ethoca alert | $27 per alert | – | Indian founders selling SaaS and digital products worldwide |
| Dispute deflection | $15 per deflection | – | Indian founders selling SaaS and digital products worldwide |
| Payout under $1,000 | $5 | – | Indian founders selling SaaS and digital products worldwide |
| USD SWIFT payout (non-US businesses) | $25 | – | Indian founders selling SaaS and digital products worldwide |
| Bring your own processor | 0.5% | – | Indian founders selling SaaS and digital products worldwide |
| Abandoned cart recovery, subscription dunning and payment retries | 5% of the recovered amount | – | Indian founders selling SaaS and digital products worldwide |
| GST on fees | Not confirmed. Dodo states it calculates and applies GST on customer sales for Indian merchants based on the customer's location; whether GST is added to Dodo's own fees is not stated on official pages. | Applies to the platform's fee | Indian founders selling SaaS and digital products worldwide |
How do Airwallex and Dodo Payments compare on settlement speed?
- Airwallex: Airwallex states about 90% of transfers to India are processed within a few hours to one business day
- Dodo Payments: Payout dates: bi-monthly by default (18th and 4th), weekly on request for higher volumes (11th, 18th, 25th and 4th) or monthly (11th of the following month), moved to the next business day after weekends and US Federal Reserve holidays; the FAQ says funds usually appear 1-2 business days after initiation, while the payouts documentation says arrival depends on the receiving bank and payout rail
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Airwallex | States ~90% processed within hours to one business day | Convert to INR (0.60% markup in rate), $0 local transfer | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Dodo Payments | Bi-monthly payouts by default; usually 1-2 business days to arrive | USD, GBP or EUR to own bank; $25 SWIFT; bank converts | Indian founders selling SaaS and digital products worldwide |
Do Airwallex and Dodo Payments provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Airwallex | No auto FIRA; FIRC on request; partner fee may apply | Not confirmed; not on RBI list, no PA-CB claim | 30 Sept 2026 | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Dodo Payments | Not confirmed | Not confirmed | 30 Sept 2026 | Indian founders selling SaaS and digital products worldwide |
Which currencies, countries and payment methods do Airwallex and Dodo Payments support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Airwallex | Receive 20+ currencies from 70+ countries; INR payouts to India | USD local account details in the US (ACH, Fedwire); SWIFT into a Global Account (USD, EUR, GBP and others); Local GBP, EUR, SGD, AUD, CAD and other local account details; Online card payments | No, registered businesses only | Yes, via Airwallex Singapore, subject to checks | Registered Indian companies collecting multi-currency and paying suppliers globally |
| Dodo Payments | Customers pay in 80+ currencies; payouts in USD, GBP, EUR only | International card and wallet payments via Dodo checkout; US ACH direct debit (one-time payments); SEPA direct debit; Indian UPI, RuPay and Indian cards (INR); Bank push transfer initiated by the customer | Yes, with PAN and ID, digital products | Yes, registered entities after KYB | Indian founders selling SaaS and digital products worldwide |
What are the strengths and limitations of Airwallex and Dodo Payments?
Airwallex
- No receiving fee: 0% Global Account receiving fee for USD and most currencies
- Published FX margin: 0.60% for INR on the Singapore fee schedule, included in the quoted rate
- Multi-currency holding: funds can be held in major currencies before converting
- Wider toolkit: cards, bill pay and payment acceptance in one account
- Businesses only: no personal accounts for individuals or unregistered freelancers
- Offshore entity: Indian customers are onboarded to the Singapore entity, not an Indian one
- FIRC on request: not issued automatically, and the banking partner may charge for it
- No confirmed RBI status: Airwallex is not on the RBI authorisation list and makes no PA-CB claim
Dodo Payments
- Tax handling: Dodo states it calculates, collects and files sales tax, VAT and GST for sales it processes
- Individual sign-up: creators and sole proprietors can register as individuals with PAN-based KYC
- No fixed costs: no monthly fee on the standard plan, per the pricing page
- Payout frequency: bi-monthly by default, weekly on request for higher volumes, with a threshold adjustable down to $50
- Digital products only: the merchant acceptance policy targets SaaS, AI products, digital goods, templates, plugins and apps, not client services or invoices
- Per-sale fee: 4% + 40c plus 1.5% for international cards is charged on each sale, calculated on the total including sales tax
- No INR payouts: the INR payout wallet was discontinued, so payouts are sent in USD, GBP or EUR and converted by the receiving bank
- Payout fees: $5 on payouts under $1,000 and $25 on USD SWIFT payouts to non-US businesses (whether both apply to a small SWIFT payout is not stated), plus any receiving and intermediary bank charges
Should you choose Airwallex or Dodo Payments?
- Choose Airwallex if: you need registered Indian companies that want multi-currency collection accounts and also pay suppliers globally.
- Choose Dodo Payments if: you need Indian founders selling SaaS, AI tools, templates and other digital products to buyers worldwide.
For example, an exporter billing $5,000 a month: Neither platform publishes full pricing for Indian users.
Which other platforms should you consider besides Airwallex and Dodo Payments?
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 | ₹4,70,498 | 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 | ₹4,68,150 | 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 | ₹4,65,132 | 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 | ₹4,64,753 | 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.
- Airwallex Help: Eligible Countries and Territories, INDIA IN - AWX Legal Entity SINGAPORE (checked 7 Oct 2026)
- Airwallex Help: Eligibility to open an account, unable to offer personal accounts to individuals (checked 6 Oct 2026)
- Airwallex Singapore Fee Schedule, Customer Mark-Up / Margin (... INR ...) 0.60%; "The customer mark-up / margin will be included as the FX Exchange Rate"; Global Account Receiving Funds Fee 0% for other currencies; Local Payout Fee $0; 24-Hour Quote Validity 0.30%; "exclusive of GST (where applicable)" (checked 7 Oct 2026)
- Airwallex Singapore Pricing, Grow $79/month; Accelerate from $399/month; 3.60% + $0.50 international cards (checked 6 Oct 2026)
- Airwallex: Send money to India (Singapore), Approximately 90% of transactions are processed within a few hours to one business day (checked 6 Oct 2026)
- Airwallex Help: What is an FIRC and how do I get one?, "there may be a fee associated with issuing an FIRC. This fee is not set by Airwallex; it is determined by our banking partner" (checked 7 Oct 2026)
- Airwallex Help: Which currencies can I get a Global Account in (checked 6 Oct 2026)
- Airwallex Help: Documents required for companies in other countries, Ultimate Beneficial owner ... more than 25% of the issued share capital (checked 6 Oct 2026)
- Airwallex Help: Limits for transfers and deposits (checked 6 Oct 2026)
- RBI: Certificates of Authorisation under the PSS Act (30 Sep 2026), Airwallex not listed (checked 6 Oct 2026)
- Dodo Payments Pricing, Domestic (USA) cards and wallets 4% + 40c; International +1.5%; BNPL +3%; PayPal +3%; Domestic (India - INR) 4% + 15c +international payment fees; ACH 1.5% capped at $15, SEPA 1.5% capped at EUR 15, replaces the card fee; bank push transfers priced as standard transactions; Payouts free, fee of $5 if payout <$1000, standard FX applicable on non-USD settlements; USD SWIFT payouts $25; Adaptive Currency 2-4% FX fee charged to customer (checked 7 Oct 2026)
- Dodo Payments Docs: Payouts Process, Bi-monthly payout dates 18th and 4th, weekly 11th/18th/25th/4th, monthly 11th; your bank converts the transfer on arrival at its own exchange rate; USD default threshold $100, lowest $50; INR native wallet discontinued; International SWIFT wire: USD SWIFT payout fee, deducted from the payout; Local bank transfer: none; payout fee is $5 for payouts below $1,000 (checked 7 Oct 2026)
- Dodo Payments Docs: Balances, Three native wallets: USD, GBP, EUR (checked 7 Oct 2026)
- Dodo Payments Docs: FAQ, Q31 GST for Indian merchants; Q35 PAN or GST; Q84 USD, GBP and EUR payout currencies, INR no longer a native payout wallet; Q99 bank and intermediary charges; Q100 payouts usually take 1-2 business days (checked 7 Oct 2026)
- Dodo Payments Docs: Account Verification (checked 6 Oct 2026)
- Dodo Payments Docs: Merchant of Record Introduction, Transaction fees are calculated on the total amount including tax, using standard pricing (example: 4% of $230, 1.5% international, $0.40 fixed) (checked 7 Oct 2026)
- Dodo Payments Docs: Merchant Acceptance Policy (checked 6 Oct 2026)
- Dodo Payments Docs: Accepted Countries and Territories (checked 6 Oct 2026)
- Dodo Payments Terms of Use, Preamble naming group companies (checked 6 Oct 2026)
FAQs about Airwallex vs Dodo Payments
Is Airwallex or Dodo Payments 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, Airwallex or Dodo Payments?
Airwallex states: Airwallex states about 90% of transfers to India are processed within a few hours to one business day. Actual timing also depends on the payment method your client uses, cut-off times and bank holidays, so allow extra time for the first payment on either platform.
Do Airwallex and Dodo Payments both provide a FIRA?
Airwallex: No automatic FIRA; FIRC can be requested from support and is issued by Airwallex's banking partner, which may charge a fee that support will quote. Dodo Payments: Not confirmed (no FIRA, FIRC or e-FIRC mention found on official pages).
Are Airwallex and Dodo Payments authorised by RBI?
Airwallex: Not confirmed. Airwallex is not on the RBI list of payment system authorisations dated 30 Sep 2026, and its pages make no PA-CB claim. Dodo Payments: Not confirmed. RBI publishes the list of authorised cross-border payment aggregators, so check the current list before relying on any platform's own statement about its status.
Can Indian freelancers use both Airwallex and Dodo Payments?
Airwallex, individuals: No. Airwallex states it is unable to offer personal accounts to individuals; applicants must be officially registered, active businesses Dodo Payments, individuals: Yes. Creators and sole proprietors can register as individuals; Indian individuals must provide PAN, government ID (via Persona) and a bank account in their own name, and must sell an eligible digital product.
Should I switch from Airwallex to Dodo Payments?
Switch only if Dodo Payments pays more on your usual invoice size or fits how your clients pay. Keep the Airwallex account open until every invoice sent with its details is paid, and download your FIRA or FIRC records first.