Airwallex vs Tazapay (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. The table compares both by use case using published information.
| 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 businesses collecting B2B or e-commerce payments from many countries, including through cards and local payment methods | Tazapay | Tazapay is built for this. |
How do Airwallex and Tazapay compare at a glance?
| Attribute | Airwallex | Tazapay |
|---|---|---|
| Best for | Registered Indian companies collecting multi-currency and paying suppliers globally | Indian businesses collecting B2B or e-commerce payments from many countries |
| Fees | No USD receive fee; free local payouts; Explore plan no monthly fee | Collection fee by contract; cards 3.8% + USD 0.5; + other fees |
| FX markup | 0.60% for INR (0.40% majors), Singapore schedule; India rate not confirmed | Not published; rate shown before you confirm |
| Settlement | States ~90% processed within hours to one business day | Weekly default; local same day to T+1, SWIFT to T+5 |
| FIRA | No auto FIRA; FIRC on request; partner fee may apply | USD 4 FIRC fee; NOC for AD1 bank FIRA |
| Currencies | Receive 20+ currencies from 70+ countries; INR payouts to India | Collections in USD, EUR, GBP, AUD, CAD, AED and more; INR settlement |
| RBI status | Not confirmed; not on RBI list, no PA-CB claim | Not confirmed on RBI PA-CB list; cites Rupee Drawing Arrangement |
| Indian individuals | No, registered businesses only | Not confirmed |
| Indian businesses | Yes, via Airwallex Singapore, subject to checks | Yes, with India KYB documents |
| 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. | No daily transaction limit; per-transaction limits vary by payment method and country (for example, cards up to USD 15,000 in many markets) |
How much INR do you receive on $2,000, $5,000 and $10,000 with Airwallex vs Tazapay?
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 |
| Tazapay, $2,000 | – | – | – | Not published | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Tazapay, $5,000 | – | – | – | Not published | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Tazapay, $10,000 | – | – | – | Not published | – | Indian businesses collecting B2B or e-commerce payments from many countries |
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 Tazapay and who is it for?
Tazapay is a Singapore-based cross-border payments company offering a payment gateway, Global Collection Accounts (virtual bank accounts and stablecoin wallets) and payouts. Indian businesses can collect from overseas buyers by card, local payment methods or bank transfer into a collection account, then settle the balance to an Indian bank account. Onboarding is business-focused, with India-specific KYB documents such as GST, IEC and Udyam registration.
- Regulated by: Not on an RBI PA-CB list that could be confirmed; Tazapay states Tazapay Canada Corp. operates as an overseas principal under the RBI Rupee Drawing Arrangement, which its About page describes as an arrangement for NRI remittances
- Used by: Yes. Tazapay lists India-specific KYB documents (GST, Certificate of Incorporation, IEC, Udyam, MGT 7, MOA, AOA). It states it cannot support domestic India transactions.
- Best for: Indian businesses collecting B2B or e-commerce payments from many countries, including through cards and local payment methods
How do Airwallex and Tazapay 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 Tazapay charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Global Collection Account (local bank transfer or SWIFT into a virtual account) | Not confirmed (Contact sales) | Virtual accounts must be requested and approved; review can take a few business days | Indian businesses collecting B2B or e-commerce payments from many countries |
| Receiving: International card payment via payment gateway or payment link | 3.8% + USD 0.5 for non-high-risk industries | Authentication fee USD 0.2, waived for successful transactions | Indian businesses collecting B2B or e-commerce payments from many countries |
| Receiving: Alternative payment methods (local wallets and bank transfer methods abroad) | 0.8% to 2.5% | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Receiving: Stablecoin wallet (USDC or USDT) | Not confirmed | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Currency conversion to INR | Not published; Tazapay states it sources rates from multiple partners and shows the exact rate before you confirm; its pricing page lists customized FX, volume-based discounts and payment-method-specific rates under a Custom tier for high-volume businesses, with no thresholds published | When foreign currency is converted | Indian businesses collecting B2B or e-commerce payments from many countries |
| Payout to an Indian bank | Funds in the Tazapay balance are settled to the business's bank account. Tazapay's Schedule A (1 May 2026) lists local currency settlement at USD 5 below USD 1,000 and free above, and wire transfer settlement at USD 35 below USD 10,000 and free above; its settlement fees article gives the wire threshold as USD 100,000 instead. A signed Pricing Addendum can override these fees. The FX rate for INR conversion is shown before confirmation; markup not published. | When INR is sent to your account | Indian businesses collecting B2B or e-commerce payments from many countries |
| Account opening or closing | Free | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| FIRC (India) | USD 4 (FIRC for Indian Customers, Schedule A and pricing page) | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Local currency settlement under USD 1,000 | USD 5 (free above USD 1,000, per Schedule A) | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| SWIFT/wire settlement | USD 35 below USD 10,000, free above (Schedule A, 1 May 2026); the settlement fees help article says below USD 100,000 | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Refunds | USD 1 (APMs), USD 2 (cards) | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Card dispute | USD 15 (up to EUR 25 by network) | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Pre-dispute alerts | USD 15 | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Arbitration | USD 500 / EUR 600, refunded if resolved in the merchant's favour | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Authentication fee | USD 0.2, waived for successful transactions | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| Payouts to third parties | Local payouts USD 2 to 5; SWIFT USD 5 to 35 (pricing page) | – | Indian businesses collecting B2B or e-commerce payments from many countries |
| GST on fees | Not confirmed. Tazapay does not state on its pricing or fee pages whether GST applies to its fees for Indian customers. | Applies to the platform's fee | Indian businesses collecting B2B or e-commerce payments from many countries |
How do Airwallex and Tazapay compare on settlement speed?
- Airwallex: Airwallex states about 90% of transfers to India are processed within a few hours to one business day
- Tazapay: Weekly by default on your signup weekday (daily or biweekly on request); local currency settlement same day to T+1, SWIFT T+1 to T+5; Tazapay notes your bank may take up to T+1 business day after the payout day
| 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 |
| Tazapay | Weekly default; local same day to T+1, SWIFT to T+5 | Local USD 5 under USD 1,000; wire USD 35, threshold conflicting | Indian businesses collecting B2B or e-commerce payments from many countries |
Do Airwallex and Tazapay 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 |
| Tazapay | USD 4 FIRC fee; NOC for AD1 bank FIRA | Not confirmed on RBI PA-CB list; cites Rupee Drawing Arrangement | 30 Sept 2026 | Indian businesses collecting B2B or e-commerce payments from many countries |
Which currencies, countries and payment methods do Airwallex and Tazapay 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 |
| Tazapay | Collections in USD, EUR, GBP, AUD, CAD, AED and more; INR settlement | Global Collection Account (local bank transfer or SWIFT into a virtual account); International card payment via payment gateway or payment link; Alternative payment methods (local wallets and bank transfer methods abroad); Stablecoin wallet (USDC or USDT) | Not confirmed | Yes, with India KYB documents | Indian businesses collecting B2B or e-commerce payments from many countries |
What are the strengths and limitations of Airwallex and Tazapay?
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
Tazapay
- Payment method coverage: cards and local payment methods in many countries alongside bank transfer collections
- Published settlement fees: Schedule A lists local currency settlement free above USD 1,000 and USD 5 below
- India documentation: lists a USD 4 FIRC fee in its pricing page and Schedule A, and issues an NOC to support FIRA/FIRC requests
- Licensing elsewhere: MAS Major Payment Institution licence in Singapore, plus FinCEN MSB registration and money transmitter licences in five US states, FINTRAC MSB registration in Canada, AUSTRAC registration in Australia and an MSO licence in Hong Kong
- Collection account pricing: not published; set in a signed Pricing Addendum
- FX markup: not published; conflicting wire settlement threshold (USD 10,000 in Schedule A, USD 100,000 in a help article)
- Settlement cadence: weekly by default unless a custom cycle is agreed
- Individuals: onboarding is built around business KYB; eligibility of Indian freelancers without a registered business is not confirmed
Should you choose Airwallex or Tazapay?
- Choose Airwallex if: you need registered Indian companies that want multi-currency collection accounts and also pay suppliers globally.
- Choose Tazapay if: you need Indian businesses collecting B2B or e-commerce payments from many countries, including through cards and local payment methods.
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 Tazapay?
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)
- Tazapay Pricing, Global Collection Accounts: *Contact sales; Global Cards 3.8% + USD 0.5; APMs 0.8%-2.5%; FIRC (India) USD 4; Custom tier: Volume-Based Discounts, Payment Method-Specific Rates, Customized FX (checked 7 Oct 2026)
- Tazapay Schedule A - Fees and Assessments (last updated 1 May 2026), Global Collection Accounts Collection Fee: Subject to Pricing Addendum; Local Currency Settlement (< USD 1,000) USD 5; Wire Transfer Settlement (< USD 10,000) USD 35, (> USD 10,000) Free; FIRC for Indian Customers USD 4 (checked 7 Oct 2026)
- Tazapay Licences, India - Reserve Bank of India (RBI) (checked 6 Oct 2026)
- Tazapay Global Collection Accounts (checked 6 Oct 2026)
- About Tazapay (checked 6 Oct 2026)
- What is the fee for Tazapay's service? (checked 6 Oct 2026)
- How much will it cost me to settle funds?, For wire transfers (USD/Foreign Currency), it's 35 USD per settlement if it's less than 100,000 USD; local currency 5 USD if less than 1,000 USD (checked 7 Oct 2026)
- What FX rate is charged?, The exact FX rate will be transparently displayed before you confirm your transaction (checked 7 Oct 2026)
- When will I receive my settlement? (checked 6 Oct 2026)
- Payout options when receiving payment (checked 6 Oct 2026)
- How long does it take to transfer into my bank account? (checked 6 Oct 2026)
- How do I get an FIRA? (checked 6 Oct 2026)
- Who issues the FIRA/FIRC? (checked 6 Oct 2026)
- Is Tazapay licensed? (checked 6 Oct 2026)
- KYB documents by country (checked 6 Oct 2026)
- KYC/KYB documents required (checked 6 Oct 2026)
- What currencies does Tazapay support? (checked 6 Oct 2026)
- Is there a daily transaction limit? (checked 6 Oct 2026)
- Is there a per transaction limit? (checked 6 Oct 2026)
- What is a collection account on Tazapay? (checked 6 Oct 2026)
- How long does it take to get a virtual account approved? (checked 6 Oct 2026)
FAQs about Airwallex vs Tazapay
Is Airwallex or Tazapay 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 Tazapay?
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 Tazapay 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. Tazapay: FIRC fee of USD 4 per certificate for Indian customers listed on the pricing page; Tazapay also provides an NOC to support getting a FIRA/FIRC from an AD1 bank.
Are Airwallex and Tazapay 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. 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 Tazapay?
Airwallex, individuals: No. Airwallex states it is unable to offer personal accounts to individuals; applicants must be officially registered, active businesses Tazapay, individuals: Not confirmed. Tazapay's KYC page lists documents for sole proprietorships, but no official page confirms that Indian individual freelancers can open an account. Eligibility can change, so confirm on each platform's sign-up pages.
Should I switch from Airwallex to Tazapay?
Switch only if Tazapay 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. Check the platform's own pricing page before relying on these figures.