Cashfree Payments vs PayU (2026): Which Is Better for Receiving International Payments in India?

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.

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

PayU is an Indian payment gateway that lets merchants accept online payments through cards, UPI, net banking and wallets. For overseas customers, it accepts international credit and debit cards and PayPal at checkout, converts the amount to INR and settles to the merchant's Indian bank account. It is a checkout tool. It does not give users foreign bank account details for receiving bank transfers.

• Regulated by: Not confirmed. PA-CB status could not be verified on rbi.org.in, and PayU's pages make no PA-CB claim
• Used by: Yes. New merchants sign up online, and existing merchants enable international payments through help.payu.in or care@payu.in. PayU's international card terms (clause 1.2(b)) say international card processing is provided at PayU's discretion, subject to additional due diligence by PayU, the acquiring banks and the nodal bank, and that approval can be withdrawn at any time
• Best for: Indian businesses taking international card payments on a website or checkout

• 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
• PayU: T+2 business days in INR, as PayU states; same-day and priority settlement offered to some business categories, possibly for a fee

• Choose Cashfree Payments if: you need registered Indian businesses that want card checkout and foreign bank transfer collection in one gateway.
• Choose PayU if: you need Indian businesses taking international card payments on a website or checkout.

For example, an exporter billing $5,000 a month: Neither platform publishes full pricing for Indian users.

Other covered platforms ranked by the INR received on a $5,000 invoice.

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.

1. Cashfree Docs: Global Collections overview (checked 6 Oct 2026)
2. Cashfree Docs: Collection Accounts (checked 6 Oct 2026)
3. Cashfree Docs: Global Collections FAQs, invoice value up to USD 10,000; AD-1 partner issues eFIRS on T+1 (checked 7 Oct 2026)
4. Cashfree Docs: International Payment Gateway overview, T+2 settlement; no setup fees (checked 6 Oct 2026)
5. Cashfree Docs: Pay in Native Currency (checked 6 Oct 2026)
6. Cashfree Docs: Supported currencies (checked 6 Oct 2026)
7. Cashfree Docs: PayPal for International Payments (checked 6 Oct 2026)
8. 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)
9. Cashfree Help: Account Activation (checked 6 Oct 2026)
10. Cashfree Help: Settlements (checked 6 Oct 2026)
11. 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)
12. 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)
13. 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)
14. 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)
15. 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)
16. PayU Pricing, 3% for Diners, American Express, EMI, International transactions; 18% GST applicable on all transactions; No set-up fee; standard settlement T+2; custom pricing slabs for higher volumes or enterprise needs, based on payment mode, industry type, risk profile, transaction volume, value-added features and processing requirements; no setup, onboarding or annual fees (checked 7 Oct 2026)
17. PayU International Payments, 135+ currencies; Visa, Mastercard, American Express and PayPal; INR conversion at transaction-date rate; T+2 business days; specific rates via account manager or care@payu.in; compliance with global standards (checked 7 Oct 2026)
18. PayU terms for international card processing and multicurrency payments, 1.2(e): the exchange rate used by PayU for all Authorised Currencies will be the inter-bank rate as decided by the respective banks or card associations and as shared by PayU with the Merchant by issuing the merchant payment report on every Business Day; non-Business Day transactions use the rate of the immediately preceding Business Day; 1.2(b): the International Card Processing Payment Mechanism and the Multicurrency Payment Feature shall be provided solely at PayU's discretion, subject to additional due diligence and criteria specified by PayU and/or Acquiring Banks and the Nodal Bank, who may withdraw approval at any time; 1.2(g): PayU may charge Customers a Currency Calculator Fee at a rate specified at the time of payment, upon the Customer consenting (checked 7 Oct 2026)