What Are the Best PayPal Alternatives for Indian Exporters and Freelancers in 2026?

Author:: Manoj Sharma
Verified by:: Editorial team
Published:: 30 Sept 2026
Last modified:: 30 Sept 2026
Fees checked on:: 30 Sept 2026

Short answer

Ranked by the INR received on a $5,000 invoice, the top PayPal alternatives for Indian exporters in 2026 are Skydo, Razorpay and Kotak Mahindra Bank. Skydo pays about ₹4,70,884 at today's reference rate. The best choice still depends on invoice size and how your clients pay.

Top PayPal alternatives
Platform	Best for	INR on $5,000
Skydo	Indian freelancers and exporters receiving mid to large B2B invoices	₹4,70,884
Razorpay	Indian businesses and freelancers on Razorpay invoicing foreign clients	₹4,68,534
Kotak Mahindra Bank	Service exporters wanting a current account without inward remittance fees	₹4,65,514

CurrencyUSD

Invoice amount

At the mid-market rate

₹4,74,129

PayPal pays

₹4,35,881

Highest payout: Skydo

₹4,70,884

1.Skydo₹4,70,884cost 0.68%
2.Razorpay₹4,68,534cost 1.18%
3.Kotak Mahindra Bank₹4,65,514cost 1.82%
4.HDFC Bank₹4,65,135cost 1.90%
5.Wise Business₹4,65,126cost 1.90%
6.Stripe₹4,38,882cost 7.43%
7.PayPal₹4,35,881cost 8.07%

1 USD = 94.83 INR, ECB reference rate for 4 Nov 2026. Payout = amount minus fees, converted at the reference rate minus each platform's markup, minus 18% GST on fees where charged. Platforms without published pricing are left out.

Why do Indian exporters look for PayPal alternatives?

Indian exporters compare PayPal alternatives on four points: cost, the conversion markup, compliance documents and who can open an account.

Cost: 4.40% + USD 0.30 per international commercial payment received (fixed fee varies by currency, e.g. EUR 0.35, GBP 0.20).
FX markup: 3.0% above PayPal's base exchange rate when converting payments received into another currency.
Documents: Weekly Digital FIRA free to download from the PayPal business account since Feb 2026; Custom FIRA via Citibank at INR 100 + 18% GST per transaction (up to 20 transactions) or INR 2,000 + 18% GST for more than 20 transactions.
Access: Yes. Individuals must be resident in India and at least 18; a personal account can receive payments for goods and services, though PayPal recommends a business account for those who primarily sell. KYC includes the original PAN card and video KYC.

The tables below compare these points using each platform's published pricing.

What are the best PayPal alternatives compared side by side?

The table lists each PayPal alternative in ranked order with PayPal last as the baseline. Fees and markups are from each platform's published pricing, checked on 30 Sept 2026.

PayPal alternatives compared
Platform	Best for	Fees	FX markup	Settlement	FIRA	Currencies	RBI status
Skydo	Indian freelancers and exporters receiving mid to large B2B invoices	$19 up to $2,000, $29 to $10,000, 0.3% above + GST	States zero FX margin at live rate	States under 24 hours; FAQ timelines vary by rail	States instant, free FIRA per payment	Local USD, GBP, EUR, CAD, AUD, SGD, AED; 32 via SWIFT	RBI authorised PA-CB Inward and Outward; on RBI list
Razorpay	Indian businesses and freelancers on Razorpay invoicing foreign clients	1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST	States 0% markup on MoneySaver at live rate	States 1 day (T+1 after invoice shared)	FIRS within 24 hours of settlement; no charge listed	Local USD, GBP, EUR accounts plus SWIFT; 30+ currencies stated	RBI authorised PA-CB inward and outward, plus PA-O
Kotak Mahindra Bank	Service exporters wanting a current account without inward remittance fees	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	Not confirmed; no credit time published	Nil FIRC on current accounts; savings Rs 100 or nil	States 17 currencies for inward; card rates for 20	RBI-listed private sector bank; AD status not checked
HDFC Bank	Existing HDFC customers wanting free SWIFT receipts or EEFC accounts	No inward charge; physical FIRC INR 200 + taxes; GST on conversion	Card rate ~1.79% below mid-market on 6 Oct 2026; markup unpublished	Personal page states within 72 hours; trade no fixed time	Physical FIRC INR 200; emailed advice free for trade	Inward in 22 currencies; EEFC in 21	RBI-listed private bank; AD status not confirmed on RBI
Wise Business	Freelancers and small exporters wanting multi-currency local accounts and eFIRC	Calculator: 1.6% + $2 per payment + 18% GST	Mid-market rate; cost is the 1.6% conversion fee	States under 90 minutes in business hours	eFIRC per transfer, 2 USD + 18% GST	Receive USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF; to INR	States in-principle PA-CB approval; not found on RBI page
Stripe	Registered Indian businesses selling online to card-paying foreign customers	4.3% intl cards; 3% Visa/Mastercard, 3.5% Amex; + 2% if converted	2% if converted; Stripe says rate is generally mid-market	Daily INR payouts; card funds after five business days	Standard Chartered payment advice; FIRC cost not confirmed	Cards in 135+ currencies; Amex INR or USD; INR payouts	Not confirmed
Airwallex	Registered Indian companies collecting multi-currency and paying suppliers globally	No USD receive fee; free local payouts; Explore plan no monthly fee	0.60% for INR (0.40% majors), Singapore schedule; India rate not confirmed	States ~90% processed within hours to one business day	No auto FIRA; FIRC on request; partner fee may apply	Receive 20+ currencies from 70+ countries; INR payouts to India	Not confirmed; not on RBI list, no PA-CB claim
PayPal	Card and PayPal-wallet payments from overseas PayPal buyers	4.40% + USD 0.30 per international payment; fixed fee varies	3.0% above PayPal's base rate on conversion	Not confirmed	Free weekly FIRA; custom Rs 100 + 18% GST each	Receives USD, EUR, GBP, CAD, AUD, others; states 130+ currencies	PA-CB in-principle authorisation granted; final not confirmed

How much INR do you receive on $2,000, $5,000 and $10,000 with each PayPal alternative?

The table shows the INR that lands in an Indian bank account for a USD invoice at three sizes, after fees, FX markup and GST on fees. Platforms are ranked by the payout on $5,000.

INR received by invoice size
Platform	Best for	INR on $2,000	INR on $5,000	INR on $10,000	Cost on $5,000
Skydo	Indian freelancers and exporters receiving mid to large B2B invoices	₹1,87,526	₹4,70,884	₹9,45,013	0.68%
Razorpay	Indian businesses and freelancers on Razorpay invoicing foreign clients	₹1,87,414	₹4,68,534	₹9,37,069	1.18%
Kotak Mahindra Bank	Service exporters wanting a current account without inward remittance fees	₹1,86,152	₹4,65,514	₹9,31,115	1.82%
HDFC Bank	Existing HDFC customers wanting free SWIFT receipts or EEFC accounts	₹1,86,001	₹4,65,135	₹9,30,358	1.90%
Wise Business	Freelancers and small exporters wanting multi-currency local accounts and eFIRC	₹1,85,919	₹4,65,126	₹9,30,471	1.90%
Stripe	Registered Indian businesses selling online to card-paying foreign customers	₹1,75,553	₹4,38,882	₹8,77,765	7.43%
PayPal	Card and PayPal-wallet payments from overseas PayPal buyers	₹1,74,333	₹4,35,881	₹8,71,796	8.07%
Airwallex	Registered Indian companies collecting multi-currency and paying suppliers globally	About ₹1,88,514 (estimate)	About ₹4,71,284 (estimate)	About ₹9,42,568 (estimate)	–

INR figures use the XE mid-market rate as the mid-market benchmark and fees checked on each platform's own pricing pages. 18% GST is added to fees where the platform charges it or does not say otherwise. "Not published" means the platform does not publish enough pricing to calculate a payout.

For example, on a $5,000 invoice a platform costing 0.7% keeps about $35, while one costing 1.2% keeps about $60. Over 12 such invoices a year, that difference is about $300.

What does each PayPal alternative offer?

1.Is Skydo a good PayPal alternative?

Skydo is a Bengaluru-based cross-border collection platform run by Skydo Technologies Private Limited, founded in 2022. It gives Indian exporters and freelancers local account details in the US, UK, Europe, Canada, Australia, Singapore and the UAE, plus an International SWIFT account, so foreign clients can pay by bank transfer. Skydo converts the funds and settles INR to the user's Indian bank account, issuing a FIRA for each payment.

Key features

Local collection accounts in 7 markets plus an International SWIFT account for 32 currencies
Flat fee per payment by slab, with zero FX margin on the live rate
Instant FIRA per payment, sent by email and downloadable from the dashboard
InstaLinks payment links that let US clients pay by ACH Debit
GST-compliant invoicing, payment reminders and client ledger in the dashboard

Strengths

FX: Zero FX margin on conversion to INR, as stated on the homepage and pricing section
Predictable fees: Flat $19 or $29 per payment up to $10,000, so the effective rate falls as invoice size rises
Compliance paperwork: FIRA issued instantly and stated to be free; Skydo says its FIRA and FIRC are accepted for GST filing and by banks
Regulation: Listed by RBI as an authorised Payment Aggregator with PA-CB Inward and Outward authorisation

Limitations

Small payments: Minimum payment of USD 50, and a $19 flat fee is a high share of small invoices
Card payments: Skydo's published pricing and FAQs list bank transfers and ACH Debit payment links only; no card payment option is listed
InstaLinks cost: Payment links cost 2% per transaction with a $9 minimum and typically settle within 6 business days
Chargebacks: For InstaLinks, the user is liable for chargeback amounts and fees, which Skydo may debit from the account

Best for: Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer
Speed: Skydo's FAQ gives standard timelines by local account: to the Skydo virtual account in 1 to 3 business days for USD ACH, EUR SEPA, CAD EFT and AUD, 1 business day for USD Fedwire and GBP FPS, and 1 to 5 business days for SWIFT; then to the Indian bank account in 1 business day for USD, GBP, EUR and SGD, 1 to 2 for CAD, and 1 to 3 for AUD and SWIFT. The homepage states payments are received in less than 24 hours. InstaLinks ACH Debit payments typically settle within 6 business days.
FIRA: FIRA issued instantly for each payment, emailed and downloadable from the dashboard; Skydo states it is free
Cost: $19 per payment up to $2,000, $29 from $2,001 to $10,000, 0.3% above $10,000, plus 18% GST on the fee. FX markup: Zero FX margin; Skydo states it converts at the live rate with no markup (its India payments page describes this as the live mid-market rate)

2.Is Razorpay a good PayPal alternative?

Razorpay is an Indian payment gateway that also offers the MoneySaver Export Account (International Bank Transfer). Indian exporters and freelancers get virtual local bank details in the US, UK, Europe and other regions plus a SWIFT account, share them with foreign clients, and receive INR in their Indian bank account. Settlement needs an invoice and buyer address details for each transaction, except for some marketplace and freelancing platform payouts.

Key features

Virtual local accounts for USD (ACH), GBP (FPS) and EUR (SEPA), plus a SWIFT account
INR settlement to an Indian current account, with non-INR settlement to an EEFC account supported
FIRS / e-FIRC generated within 24 hours of settlement
Connects to Amazon, Upwork, Deel, Toptal, Freelancer and Fiverr payouts
International card and payment link acceptance on the same dashboard

Strengths

FX: 0% markup on bank transfers, as stated on the pricing page
Speed: T+1 settlement for local bank transfers once invoice details are shared
Compliance: FIRS sent within 24 hours of settlement
Regulation: listed by RBI as an authorised PA-CB for inward and outward transactions

Limitations

Small payments: flat INR 1,000 fee on transactions below INR 1,00,000, which is more than 1% on smaller invoices
Paperwork: an invoice and buyer address are required for every transaction before settlement (except some marketplace payouts)
No holding: funds cannot be kept in the foreign currency accounts
Eligibility: limited to listed export purpose codes and excludes certain merchant categories and NGOs

Best for: Indian businesses and freelancers already using Razorpay who invoice foreign clients
Speed: Bank transfers: 'Settlement in 1 day' per the pricing page; docs state T+1 from the time the invoice or invoice details are shared against a payment. FlashLinks (US): settlement in 5 days
FIRA: FIRS (foreign inward remittance statement / e-FIRC) sent within 24 hours of settlement and downloadable from the Dashboard; no separate charge listed
Cost: 1% per bank transfer (flat INR 1,000 below INR 1,00,000), plus GST; FlashLinks (US) ACH debit 2%; international cards and wallets up to 3% plus taxes. FX markup: 0% FX markup on MoneySaver bank transfers; Razorpay states it converts at the live exchange rate

3.Is Kotak Mahindra Bank a good PayPal alternative?

Kotak Mahindra Bank is an Indian private sector bank. Indian residents receive foreign payments into a Kotak savings or current account by SWIFT wire from a client's bank, and the bank converts the money to INR at its card rate or credits it to an EEFC account. For service exporters Kotak offers a Global Service Current Account with no charge for inward remittances or FIRCs.

Key features

Inward SWIFT remittances into savings and current accounts through correspondent banks in major countries
Global Service Current Account for the service export sector, with nil inward remittance, FIRC and e-BRC charges
EEFC and other foreign currency accounts for holding foreign currency earnings
FX Live online forex portal and the Kotak Fyn digital platform for business banking
Automated credit advices and SWIFT messages sent by email

Strengths

Published business charges: Global Service, Global Trade and Startup current account schedules list inward remittance and FIRC at nil
EEFC option: Kotak offers EEFC accounts so businesses can hold foreign currency and convert later
Regulated bank: listed by RBI as a private sector bank, so money lands directly in a regulated Indian bank account
Online forex portal: Global Service Current Account holders get access to FX Live

Limitations

Exchange rate: conversion uses a card rate that was about 1.6% to 1.7% below Wise's mid-market readings on 7 Oct 2026; the markup is not published
No local receiving details: clients pay by international wire, so sender-side and intermediary bank fees may apply
Rate scope: card rates apply only up to USD 10,000 equivalent and are set as of 9am; larger amounts need a relationship rate
Account requirements: Global Service Current Account variants require an AQB of INR 1 lakh or quarterly throughput of USD 1,00,000 (GSA Elite), or an AQB of INR 2.5 lakh or quarterly throughput of USD 2,50,000 (GSA Ace), with charges of INR 3,000 or INR 5,000 if not met

Best for: Service exporters and businesses that want a current account with no inward remittance or FIRC fee
Speed: Not confirmed. Kotak describes a 'fast turnaround time' through correspondent banks but publishes no credit time
FIRA: FIRC at nil cost on the Global Service, Global Trade and Startup current accounts; on savings accounts a FIRC by branch request costs INR 100 (Everyday) or nil (Ace, Everyday+); e-FIRC availability for individuals not confirmed
Cost: No inward remittance, FIRC or SWIFT fee on the Global Service, Global Trade and Startup current accounts; savings accounts list FIRC by branch request at INR 100 (Everyday) or nil (Ace, Everyday+); conversion is at Kotak's card rate, with GST on the currency conversion. FX markup: Converts at Kotak's daily card rate (as of 9am, up to USD 10,000 equivalent); markup not published. USD TT buying rate was 94.80 INR on 7 Oct 2026, 1.71% below Wise's 08:30 IST mid-market reading of 96.4486 (1.62% below the 09:30 IST reading of 96.3575)

4.Is HDFC Bank a good PayPal alternative?

HDFC Bank is an Indian private sector bank. Indian residents receive foreign payments by giving clients HDFC's SWIFT code (HDFCINBBXXX) and their account details. HDFC credits the money in INR at its card rate, or in foreign currency into an EEFC account. Businesses use its trade remittance desk. Individual freelancers can use a savings account, including the GIGA Savings Account HDFC offers for freelancers and gig workers.

Key features

Inward SWIFT remittances in 22 currencies, with no HDFC charge, commission or SWIFT fee
Published card rates, including a T.T. Buying rate for inward remittances
Disposal instructions for inward remittances and online tracking through Net Banking (trade customers)
EEFC account in 21 currencies, so foreign currency earnings can be kept without converting
GIGA Savings Account for freelancers, which HDFC says offers preferential FX rates on overseas collections

Strengths

No bank charge: HDFC lists inward remittance charges, commission and SWIFT/courier fees as nil
Published rates: the card rate sheet is public and shows the date and time it was issued
EEFC option: exporters can hold foreign currency and choose when to convert
Existing banking relationship: the money arrives straight in the user's HDFC account, with no separate platform

Limitations

Exchange rate: the USD card rate was about 1.79% below mid-market on 6 October 2026, and better rates depend on the customer's relationship with the bank
SWIFT only: HDFC's pages describe inward receipts by SWIFT and do not mention local foreign account details, and HDFC's charges exclude any charges imposed by originating or correspondent banks
Paperwork: HDFC's export remittance document list says an active IEC is needed for all import and export transactions, and asks for disposal instructions and invoices
FIRC cost: a physical FIRC costs INR 200 plus taxes

Best for: Exporters and freelancers who already bank with HDFC and want SWIFT receipts with no bank charge, or who want to hold foreign currency in an EEFC account
Speed: HDFC's personal remittance page says 'Your money will reach within 72 hours'; the trade remittances page describes 'fast crediting of funds' through SWIFT and gives no fixed time
FIRA: Physical FIRC: INR 200 per FIRC (duplicate INR 500 plus applicable taxes). For trade customers, a credit advice sent centrally by email in place of a FIRC is free. e-FIRC and issuance time: Not confirmed
Cost: No HDFC charge for inward remittances; an optional physical FIRC costs INR 200 plus taxes (an emailed credit advice is free for trade customers); GST applies to the currency conversion. FX markup: Converts at HDFC's card rate (T.T. Buying). On 6 October 2026 USD was 94.68 INR, about 1.79% below Wise's mid-market reading at the time the rate sheet was issued; HDFC does not publish a markup percentage

5.Is Wise Business a good PayPal alternative?

Wise is a UK-headquartered money transfer company. In India, receiving money from abroad is offered only through Wise Business, which gives local account details in eight currencies, converts incoming payments to INR at the mid-market rate and pays them to the user's Indian bank account. Freelancers can sign up under the sole trader / freelancer business type.

Key features

Local receiving details in USD (ACH routing and account number), GBP, EUR (IBAN), AUD, CAD, NZD, SGD and HUF
Automatic conversion to INR at the mid-market rate and payout to an Indian bank account
eFIRC emailed for every transfer
Payment request flow where the user submits sender and invoice information for each payment
Clients who pay from their own Wise account avoid bank wire fees, according to Wise

Strengths

Transparent calculator: Wise's India pricing page calculator shows the conversion fee, eFIRC fee and GST for a given amount
Mid-market rate: no exchange rate markup; the cost sits in a stated conversion fee
Speed: Wise states payouts can arrive in under 90 minutes within business hours
Freelancer eligibility: sole traders and freelancers are an accepted business type

Limitations

Cost on USD: Wise's calculator showed a 1.6% conversion fee plus a 2 USD eFIRC fee, before 18% GST, on a 1,000 USD ACH receipt on 2026-10-06
Per-payment paperwork: Wise says a payment request is needed for every payment, with payment information such as sender and invoice
Business only: personal Wise accounts in India cannot receive money; users must register Wise Business
Regulatory status: the PA-CB licence is in-principle per Wise's own statement

Best for: Freelancers and small exporters wanting local account details in several currencies with an eFIRC per payment
Speed: Wise states payments can arrive in under 90 minutes within business hours
FIRA: eFIRC sent by email for every transfer; 2 USD each in Wise's calculator, plus 18% GST
Cost: 1.6% conversion fee plus $2 per payment, plus 18% GST (calculator reading, 6 Oct 2026); lower above about $25,000. FX markup: Converts at the mid-market rate; the cost is the 1.6% conversion fee

6.Is Stripe a good PayPal alternative?

Stripe is a global online payments platform. In India it is available by invite only, and registered Indian businesses can use it to accept international card payments declared as exports, with funds paid out in INR to an Indian bank account. Its India help pages list cards, Apple Pay and Google Pay for international payments and do not describe receiving bank transfers from foreign clients.

Key features

Accept international Visa, Mastercard, Amex, Apple Pay and Google Pay payments
Present prices in 135+ currencies on Visa and Mastercard
Billing and invoicing for recurring international payments
Daily automatic INR payouts with international payouts labelled separately
Payment advice from Standard Chartered Bank for export payouts

Strengths

Checkout and API: Developer tools for websites, subscriptions and invoices
Currency presentment: Customers can pay in their local currency on Visa and Mastercard
Export documentation: Purpose code captured at onboarding and payment advice emailed for export payouts
No fixed fees: No setup or monthly fees on standard pricing

Limitations

Invite only: Indian businesses cannot sign up on the website and must request an invite
No individuals: International payments are not supported for individuals; a sole proprietorship, LLP or company is required
Cards and wallets only: Bank transfers (ACH, SEPA, SWIFT) from foreign clients are not listed as a supported method for India accounts
Cost: 4.3% on foreign currency card payments plus 2% if currency conversion is required, with 18% GST on fees (7.434% in total), except that GST is not charged on processing fees for single card transactions up to INR 2,000

Best for: Registered Indian businesses selling online to foreign customers who pay by card
Speed: Daily automatic payouts in INR include international card payments processed five business days prior
FIRA: Payment advice emailed by Standard Chartered Bank on the day each export payout is processed; Stripe says it can be used to obtain a FIRC. Cost of FIRC not confirmed
Cost: 4.3% per international card payment with USD or other currency presentment, 3% for Visa and Mastercard cards issued outside India, 3.5% for American Express cards issued outside India, each plus 2% if currency conversion is required. FX markup: 2% currency conversion fee if conversion is required, on top of a rate Stripe says is generally the third-party-sourced mid-market rate; in certain circumstances Stripe may use the rate at which it sources the currency

7.Is Airwallex a good PayPal alternative?

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.

Key features

Global Accounts with local details in the US, UK, EU, Singapore, Hong Kong, Australia, Canada and more
FX conversion with a 0.40% (major currencies) or 0.60% (INR and other currencies) customer mark-up included in the rate
Free local payouts to 120+ countries, including India
Online card and local payment method acceptance (3.30% + SGD 0.50 domestic, 3.60% + SGD 0.50 international cards on the Singapore schedule)
Corporate cards, bill pay and expense management

Strengths

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

Limitations

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

Best for: Registered Indian companies that want multi-currency collection accounts and also pay suppliers globally
Speed: Airwallex states about 90% of transfers to India are processed within a few hours to one business day
FIRA: 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
Cost: No fee to receive USD into a Global Account; free local payouts; Explore plan has no monthly fee (Grow SGD 79/month, Accelerate from SGD 399/month). FX markup: 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

Which PayPal alternative fits freelancers, SaaS companies and goods exporters?

The best PayPal alternative changes with invoice size. The picks below are calculated from published pricing at today's reference rate.

Best pick by use case
Use case	Best for	Why
Invoices around $1,000	Skydo	Highest INR received at this size: ₹92,700 (2.24% cost).
Invoices around $5,000	Skydo	Highest INR received at this size: ₹4,70,884 (0.68% cost).
Invoices around $10,000	Skydo	Highest INR received at this size: ₹9,45,013 (0.34% cost).
Need: Indian freelancers and exporters receiving mid to large B2B invoices by bank transfer	Skydo	Skydo is a Bengaluru-based cross-border collection platform run by Skydo Technologies Private Limited, founded in 2022.
Need: Indian businesses and freelancers already using Razorpay who invoice foreign clients	Razorpay	Razorpay is an Indian payment gateway that also offers the MoneySaver Export Account (International Bank Transfer).
Need: service exporters and businesses that want a current account with no inward remittance or FIRC fee	Kotak Mahindra Bank	Kotak Mahindra Bank is an Indian private sector bank.

How do you choose the right PayPal alternative?

The right PayPal alternative depends on invoice size, how the client pays, which currencies arrive and whether you need FIRA for every payment.

Ticket size: Flat fees suit larger invoices. Fixed-plus-percentage fees suit small, frequent payments.
Payment method: Bank transfers into local account details usually cost less than card or wallet payments.
Currency: Check that the platform gives account details in every currency your clients pay in.
FIRA need: If you claim GST refunds or export benefits, choose a platform that issues FIRA for each payment.

Say an agency bills three clients $4,000 each month. A $29 flat fee per payment costs $87 a month, while a 1% fee costs $120 a month before GST.

Which PayPal alternatives provide FIRA and e-BRC, and which hold RBI PA-CB authorisation?

A FIRA (Foreign Inward Remittance Advice) or FIRC shows that export money arrived through banking channels, and exporters use it for GST refunds and income tax records. RBI's Payment Aggregator Cross Border (PA-CB) authorisation covers companies that process cross-border payments. The table shows what each platform states. Confirm RBI status on RBI's published list before relying on it.

FIRA and RBI status by platform
Platform	Best for	FIRA and e-BRC	RBI status
Skydo	Indian freelancers and exporters receiving mid to large B2B invoices	States instant, free FIRA per payment	RBI authorised PA-CB Inward and Outward; on RBI list
Razorpay	Indian businesses and freelancers on Razorpay invoicing foreign clients	FIRS within 24 hours of settlement; no charge listed	RBI authorised PA-CB inward and outward, plus PA-O
Kotak Mahindra Bank	Service exporters wanting a current account without inward remittance fees	Nil FIRC on current accounts; savings Rs 100 or nil	RBI-listed private sector bank; AD status not checked
HDFC Bank	Existing HDFC customers wanting free SWIFT receipts or EEFC accounts	Physical FIRC INR 200; emailed advice free for trade	RBI-listed private bank; AD status not confirmed on RBI
Wise Business	Freelancers and small exporters wanting multi-currency local accounts and eFIRC	eFIRC per transfer, 2 USD + 18% GST	States in-principle PA-CB approval; not found on RBI page
Stripe	Registered Indian businesses selling online to card-paying foreign customers	Standard Chartered payment advice; FIRC cost not confirmed	Not confirmed
Airwallex	Registered Indian companies collecting multi-currency and paying suppliers globally	No auto FIRA; FIRC on request; partner fee may apply	Not confirmed; not on RBI list, no PA-CB claim
PayPal	Card and PayPal-wallet payments from overseas PayPal buyers	Free weekly FIRA; custom Rs 100 + 18% GST each	PA-CB in-principle authorisation granted; final not confirmed

How do you switch from PayPal to another platform?

Switching from PayPal does not require closing the PayPal account first. Run both accounts in parallel until every open invoice is paid.

Open an account with the new platform and complete KYC for your business.
Get local account details for each currency you invoice in.
Update the bank details on your invoice template and tell each client in writing.
Keep the PayPal account open until all invoices sent with PayPal details are paid.
Download FIRA or FIRC records from PayPal for past payments before closing the account.

How did we verify this?

Fees, markups, FIRA terms and RBI status were checked against the sources below on 30 Sept 2026. INR figures use the XE mid-market rate for 4 Nov 2026 as the mid-market benchmark. The full formula is on the methodology page.

European Central Bank euro foreign exchange reference rates (checked 30 Sept 2026)
Skydo homepage (pricing and fee calculator) (checked 6 Oct 2026)
Skydo FAQs: Fees & charges (checked 6 Oct 2026)
Skydo FAQs: Payment queries (checked 6 Oct 2026)
Skydo FAQs: International accounts (checked 6 Oct 2026)
Skydo FAQs: InstaLinks (checked 6 Oct 2026)
Skydo: Receive International Payments in India (checked 6 Oct 2026)
Skydo for Amazon Global Sellers (checked 6 Oct 2026)
Skydo Terms of Use (checked 6 Oct 2026)
Skydo About Us (checked 6 Oct 2026)
Skydo blog: How to Sign Up on Skydo in 5 Minutes (checked 6 Oct 2026)
RBI: Certificates of Authorisation under the PSS Act (30 Sep 2026) (checked 6 Oct 2026)
Razorpay MoneySaver Export Account (International Bank Transfers) pricing (checked 6 Oct 2026)
Razorpay pricing (checked 6 Oct 2026)
Razorpay Docs: International Bank Transfer (MoneySaver Export Account) (checked 6 Oct 2026)
Razorpay Docs: FIRS Automated Process (checked 6 Oct 2026)
Razorpay Docs: International Payments FAQs (checked 6 Oct 2026)
Kotak Everyday Savings Account fees and charges (checked 6 Oct 2026)
Kotak Ace Savings Account fees and charges (checked 6 Oct 2026)
Kotak Savings Account fees and charges (Everyday+) (checked 6 Oct 2026)
Kotak Global Service Current Account: Trade fees and charges (checked 7 Oct 2026)
Kotak Global Service Current Account (checked 6 Oct 2026)
Kotak Global Trade Current Account: Fees and charges (checked 7 Oct 2026)
Kotak Startup Regular Current Account: Trade fees and charges (checked 6 Oct 2026)
Kotak Inward Remittances (Corporate) (checked 6 Oct 2026)
Kotak Remittances and Foreign Currency Accounts (checked 6 Oct 2026)
Kotak: Why businesses should look for EEFC integration (checked 6 Oct 2026)
Kotak Forex Rates (card rates) (checked 7 Oct 2026)
Kotak Savings Account documents required (checked 6 Oct 2026)
RBI: Banks in India (checked 6 Oct 2026)
Kotak Elite Current Account fees and charges (checked 7 Oct 2026)
CBIC: CGST Rules, Rule 32 (value of supply for purchase or sale of foreign currency) (checked 7 Oct 2026)
Wise: USD/INR mid-market rate history (benchmark only) (checked 7 Oct 2026)
HDFC Bank: Remittance Services Fees & Charges (checked 6 Oct 2026)
HDFC Bank: MSME Trade Services Fees and Charges (checked 6 Oct 2026)
HDFC Bank: Trade Remittances (MSME) (checked 6 Oct 2026)
HDFC Bank: Remittance (checked 6 Oct 2026)
HDFC Bank Treasury Forex Card Rates (checked 6 Oct 2026)
HDFC Bank: Exchange Earners Foreign Currency (EEFC) Account (checked 6 Oct 2026)
HDFC Bank: GIGA Savings Account for freelancers (checked 6 Oct 2026)
HDFC Bank: Documentation requirements for export and import remittances (checked 6 Oct 2026)
RBI: Banks in India (checked 6 Oct 2026)
Wise: USD/INR mid-market rate history (benchmark only) (checked 6 Oct 2026)
Wise India: Fees for receiving money (Business) (checked 6 Oct 2026)
Wise India: Fees for receiving money (Personal) (checked 6 Oct 2026)
Wise India: Receive money from abroad in India (checked 6 Oct 2026)
Wise Help: How to verify your Indian business to receive payments (checked 6 Oct 2026)
Wise India: Pricing (checked 6 Oct 2026)
Wise price data behind the India receive calculator (USD to INR, business, India) (checked 6 Oct 2026)
Wise calculator price data for an Indian business receiving USD (RECEIVE_BANK_TRANSFER to INR) (checked 6 Oct 2026)
Stripe India pricing (checked 7 Oct 2026)
Accept international payments from India (Stripe docs) (checked 7 Oct 2026)
Additional pricing information for Indian cross-border sellers (checked 7 Oct 2026)
How can I open a Stripe account in India (checked 6 Oct 2026)
Supported payment methods, currencies and businesses for Stripe accounts in India (checked 6 Oct 2026)
FIRC for international transactions in India (checked 6 Oct 2026)
Payout schedule for Stripe accounts in India (checked 6 Oct 2026)
Payout currency for Stripe accounts in India (checked 6 Oct 2026)
GST and TDS on Stripe invoices for India-based accounts (checked 6 Oct 2026)
Export transaction limits for Stripe accounts in India (checked 6 Oct 2026)
RBI regulations: context and FAQs (checked 6 Oct 2026)
Localise prices: exchange rate (Stripe docs) (checked 7 Oct 2026)
Taxes on Stripe fees for India-based businesses (checked 7 Oct 2026)
Stripe Docs: Supported currencies (India selected) (checked 8 Oct 2026)
Airwallex Help: Eligible Countries and Territories (checked 7 Oct 2026)
Airwallex Help: Eligibility to open an account (checked 6 Oct 2026)
Airwallex Singapore Fee Schedule (checked 7 Oct 2026)
Airwallex Singapore Pricing (checked 6 Oct 2026)
Airwallex: Send money to India (Singapore) (checked 6 Oct 2026)
Airwallex Help: What is an FIRC and how do I get one? (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 (checked 6 Oct 2026)
Airwallex Help: Limits for transfers and deposits (checked 6 Oct 2026)
PayPal India Merchant Fees (checked 6 Oct 2026)
PayPal India User Agreement (checked 6 Oct 2026)
PayPal India Foreign Inward Remittance Advise (FIRA) (checked 6 Oct 2026)
PayPal India Know Your Customer (KYC) (checked 6 Oct 2026)
PayPal India Business (checked 6 Oct 2026)
RBI: Status of Applications received under Payment and Settlement Systems Act, 2007 (as on 01.10.2026) (checked 6 Oct 2026)

FAQs about PayPal alternatives

What is the cheapest alternative to PayPal for Indian exporters?

On a $5,000 invoice, Skydo pays the most among the platforms compared, about ₹4,70,884 at today's reference rate. The cheapest option changes with invoice size, so check the INR table on this page for $2,000 and $10,000 as well. Check the platform's own pricing page before relying on these figures.

Which PayPal alternatives give a FIRA for each payment?

FIRA terms differ by platform. The FIRA and RBI status table on this page shows what each PayPal alternative states on its own website. Confirm whether a FIRA is issued for every payment and whether it carries a charge before you switch.

Can Indian freelancers use PayPal alternatives without a registered business?

Some platforms accept individual freelancers and some require a registered business. The currencies and availability details on each platform's profile show what it states for Indian individuals and businesses. Check eligibility on the platform's own sign-up pages. Check the platform's own pricing page before relying on these figures.

Are PayPal alternatives regulated by RBI?

Each platform's RBI status is listed on this page as the platform or RBI states it. RBI publishes the list of authorised cross-border payment aggregators, so check the current list before relying on any platform's own statement. Check the platform's own pricing page before relying on these figures.

How do I move my clients from PayPal to another platform?

Open the new account, add its receiving details to your invoice template and inform each client in writing. Keep PayPal open until every invoice sent with its details is paid, and download past FIRA or FIRC records before closing. Check the platform's own pricing page before relying on these figures.