Cashfree Payments 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. Cashfree Payments is best for registered Indian businesses that want card checkout and foreign bank transfer collection in one gateway. 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 businesses that want card checkout and foreign bank transfer collection in one gateway | Cashfree Payments | Cashfree Payments 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 Cashfree Payments and Dodo Payments compare at a glance?
| Attribute | Cashfree Payments | Dodo Payments |
|---|---|---|
| Best for | Registered Indian businesses wanting card checkout and bank transfer collection | Indian founders selling SaaS and digital products worldwide |
| Fees | Collections on request (2023: 1% to 1.5%); cards 2.99% + GST | 4% + 40c + other fees; payout $5 below $1,000, $25 SWIFT |
| FX markup | Collections states no forex markup; card FX charge unpublished | No INR conversion; Indian bank converts USD at its rate |
| Settlement | Cards T+2; collections within 7 days, typical time not confirmed | Bi-monthly payouts by default; usually 1-2 business days to arrive |
| FIRA | e-FIRA in 1 day free; FAQ: e-FIRS T+1 on request | Not confirmed |
| Currencies | Collections: 17 currencies (charges page says 30+); cards 140+ currencies | Customers pay in 80+ currencies; payouts in USD, GBP, EUR only |
| RBI status | RBI authorised PA and PA-CB inward and outward | Not confirmed |
| Indian individuals | Registered businesses only; unregistered individuals not confirmed | Yes, with PAN and ID, digital products |
| Indian businesses | Yes, registered businesses; review 24 to 48 hours | Yes, registered entities after KYB |
| Limits | Global Collections is for sales of goods or services with an invoice value of up to USD 10,000 per transaction, with no daily or monthly limit on the number of transactions (product page, FAQs). | 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 Cashfree Payments 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 4 Nov 2026.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Cashfree Payments, $2,000 | – | – | – | Not published | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Cashfree Payments, $5,000 | – | – | – | Not published | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Cashfree Payments, $10,000 | – | – | – | Not published | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| 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 Cashfree Payments and who is it for?
Cashfree Payments is an Indian payment gateway run by Cashfree Payments India Private Limited. For money from abroad it offers an International Payment Gateway for foreign cards and PayPal, and Global Collections, which gives local and SWIFT account details abroad and settles the funds in INR to an Indian bank account. Both are aimed at registered Indian businesses rather than unregistered individuals.
- Regulated by: RBI authorised Payment Aggregator, including PA-CB for inward and outward transactions (RBI certificates of authorisation list dated 30 Sep 2026)
- Used by: Yes. Registered Indian businesses can apply; Cashfree reviews documents, which it says typically takes 24 to 48 hours for Global Collections.
- Best for: Registered Indian businesses that want card checkout and foreign bank transfer collection in one gateway
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 Cashfree Payments and Dodo Payments fees and FX markup compare?
What does Cashfree Payments charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: US ACH to local account details (Global Collections) | Not confirmed (request price; a 1 August 2023 Cashfree blog gave 1% to 1.5% by volume for USD, CAD, EUR, AUD and GBP local rails) | Pricing via Contact Sales | Registered Indian businesses wanting card checkout and bank transfer collection |
| Receiving: SEPA (EUR), FPS (GBP) and EFT (CAD) to local account details (Global Collections) | Not confirmed (request price; a 1 August 2023 Cashfree blog gave 1% to 1.5% by volume for USD, CAD, EUR, AUD and GBP local rails) | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Receiving: SWIFT wire to Global Collections account | Not confirmed | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Receiving: International card payment through the International Payment Gateway | 2.99% for Visa and Mastercard, 2.95% for American Express, plus applicable GST | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Receiving: PayPal through Cashfree | Not confirmed. The pricing FAQ says PayPal transactions are charged at standard payment gateway rates, while the charges page says only standard PayPal pricing applies and Cashfree adds no gateway charge | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Currency conversion to INR | Global Collections product page states 'No forex markup' (reference rate not named); for international cards Cashfree applies a foreign exchange conversion charge it does not publish | When foreign currency is converted | Registered Indian businesses wanting card checkout and bank transfer collection |
| Payout to an Indian bank | Cashfree converts foreign currency receipts to INR and settles them to the merchant's verified Indian bank account. The Global Collections product page says payments must be settled in INR to the exporter's bank account and states 'No forex markup' and no subscription fees. International card payments settle within T+2 days according to the IPG overview; the Global Collections settlement timeline and fee are not published. | When INR is sent to your account | Registered Indian businesses wanting card checkout and bank transfer collection |
| Setup fee | None, as stated in the IPG docs and the pricing FAQ | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Foreign exchange conversion charge | Applied on transactions settled in a currency other than INR, per the pricing FAQ; rate not published | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| On-demand settlement | A small fee, amount not published | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| e-FIRS | Free (Global Collections product page: 'at no additional cost') | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| Subscription fee (Global Collections) | None, per the product page | – | Registered Indian businesses wanting card checkout and bank transfer collection |
| GST on fees | Cashfree's pricing FAQ says international card rates are charged in addition to any applicable GST, and monthly invoices show TDR plus GST as applicable; its festive offer terms state GST is charged at 18% (or the prevailing rate). A Cashfree blog on GST says payment gateways and forex providers may charge 18% GST on their service fees, not on the payment received. No page states GST treatment of a Global Collections fee specifically. | Applies to the platform's fee | Registered Indian businesses wanting card checkout and bank transfer collection |
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 Cashfree Payments and Dodo Payments compare on settlement speed?
- Cashfree Payments: International card payments: T+2 days to the Indian bank account, as stated in the IPG docs. Global Collections: the product page says receipts are swept into a NOSTRO collection account, no funds may be retained in the collection accounts, and funds are credited to the exporter's Indian bank account immediately on confirmation from the importer and no later than seven days from the date of credit to the NOSTRO account; a typical settlement time is Not confirmed
- 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 |
|---|---|---|---|
| Cashfree Payments | Cards T+2; collections within 7 days, typical time not confirmed | Settled in INR to Indian bank; cards T+2; collections fee unpublished | Registered Indian businesses wanting card checkout and bank transfer collection |
| 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 Cashfree Payments 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 |
|---|---|---|---|---|
| Cashfree Payments | e-FIRA in 1 day free; FAQ: e-FIRS T+1 on request | RBI authorised PA and PA-CB inward and outward | 30 Sept 2026 | Registered Indian businesses wanting card checkout and bank transfer collection |
| Dodo Payments | Not confirmed | Not confirmed | 30 Sept 2026 | Indian founders selling SaaS and digital products worldwide |
Which currencies, countries and payment methods do Cashfree Payments and Dodo Payments support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Cashfree Payments | Collections: 17 currencies (charges page says 30+); cards 140+ currencies | US ACH to local account details (Global Collections); SEPA (EUR), FPS (GBP) and EFT (CAD) to local account details (Global Collections); SWIFT wire to Global Collections account; International card payment through the International Payment Gateway; PayPal through Cashfree | Registered businesses only; unregistered individuals not confirmed | Yes, registered businesses; review 24 to 48 hours | Registered Indian businesses wanting card checkout and bank transfer collection |
| 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 Cashfree Payments and Dodo Payments?
Cashfree Payments
- Regulatory status: listed by the RBI as an authorised PA-CB for inward and outward transactions
- Published card rate: international card pricing of 2.99% (Visa, Mastercard) is stated in the help centre
- Collection rails: local account details in the US, Europe, UK and Canada plus SWIFT
- One account: domestic and international collections are managed from the same Cashfree dashboard
- Pricing: current Global Collections fees are not published (request price), and the card FX conversion charge is not published
- Eligibility: docs say you must be a registered business in India to accept international payments
- Invoice cap: Global Collections is described for invoices of up to USD 10,000
- Paperwork: the FAQs say e-FIRS is requested through a support form or the account manager, while the product page describes it as auto-generated
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 Cashfree Payments or Dodo Payments?
- Choose Cashfree Payments if: you need registered Indian businesses that want card checkout and foreign bank transfer collection in one gateway.
- 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 Cashfree Payments 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 | ₹4,70,691 | 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 | ₹4,68,343 | 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 | ₹4,65,323 | 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 | ₹4,64,944 | 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 4 Nov 2026. The formula is on the methodology page.
- Cashfree Docs: Global Collections overview (checked 6 Oct 2026)
- Cashfree Docs: Collection Accounts (checked 6 Oct 2026)
- Cashfree Docs: Global Collections FAQs, invoice value up to USD 10,000; AD-1 partner issues eFIRS on T+1 (checked 7 Oct 2026)
- Cashfree Docs: International Payment Gateway overview, T+2 settlement; no setup fees (checked 6 Oct 2026)
- Cashfree Docs: Pay in Native Currency (checked 6 Oct 2026)
- Cashfree Docs: Supported currencies (checked 6 Oct 2026)
- Cashfree Docs: PayPal for International Payments (checked 6 Oct 2026)
- Cashfree Help: Pricing FAQs, Accurate as of 10 August 2026: international cards Visa and Mastercard 2.99%, American Express 2.95%, in addition to any applicable GST; foreign exchange conversion charge on non-INR settlement (checked 7 Oct 2026)
- Cashfree Help: Account Activation (checked 6 Oct 2026)
- Cashfree Help: Settlements (checked 6 Oct 2026)
- RBI: Certificates of Authorisation under the PSS Act, 2007, Payment Aggregators, entry 10: Cashfree Payments India Private Limited, PA-CB- I & O (checked 6 Oct 2026)
- Cashfree: Payment gateway charges, International Cards platform fee; Global Collections 'Request Price'; cross border payments only for businesses; GST at 18% (festive offer terms) (checked 6 Oct 2026)
- Cashfree Global Collections (international wire transfer), No subscription fees; No forex markup; e-FIRA within 1 day, auto-generated at no additional cost; invoice value up to USD 10,000; "no funds are allowed to be retained in such accounts"; credited "immediately on receipt of the confirmation from the importer and, in no case, later than seven days from the date of credit to the NOSTRO collection account" (checked 7 Oct 2026)
- Cashfree blog: How to receive international business payments in India (1 August 2023), keeps the transaction costs within the range of 1% to 1.5% based on the volume of transactions (USD, CAD, EUR, AUD, GBP local rails) (checked 7 Oct 2026)
- Cashfree blog: GST on international transactions (5 August 2026), payment gateways, and forex providers may charge 18% GST on their service fees (checked 7 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 Cashfree Payments vs Dodo Payments
Is Cashfree Payments 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, Cashfree Payments or Dodo Payments?
Cashfree Payments states: International card payments: T+2 days to the Indian bank account, as stated in the IPG docs. 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 Cashfree Payments and Dodo Payments both provide a FIRA?
Cashfree Payments: Global Collections: product page says e-FIRA within 1 day, auto-generated at no additional cost; the FAQs say the AD-1 partner issues e-FIRS on T+1 on request through support or the account manager. Dodo Payments: Not confirmed (no FIRA, FIRC or e-FIRC mention found on official pages).
Are Cashfree Payments and Dodo Payments authorised by RBI?
Cashfree Payments: RBI authorised Payment Aggregator, including PA-CB for inward and outward transactions (RBI certificates of authorisation list dated 30 Sep 2026). 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 Cashfree Payments and Dodo Payments?
Cashfree Payments, individuals: Not confirmed for unregistered individuals. The Global Collections docs say you must be a registered business in India, Pay Native is for registered businesses with a website or app, and the charges page says Cashfree currently enables cross border payments only for businesses. Whether a freelancer registered as a sole proprietorship qualifies is not stated.
Should I switch from Cashfree Payments to Dodo Payments?
Switch only if Dodo Payments pays more on your usual invoice size or fits how your clients pay. Keep the Cashfree Payments account open until every invoice sent with its details is paid, and download your FIRA or FIRC records first.