PayU vs Winvesta (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. PayU is best for Indian businesses taking international card payments on a website or checkout. Winvesta is best for Indian freelancers and small businesses collecting under 2,000 a month per currency.
| 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: Indian businesses taking international card payments on a website or checkout | PayU | PayU is built for this. |
| Need: Indian freelancers and small businesses collecting under 2,000 a month per currency | Winvesta | Winvesta is built for this. |
How do PayU and Winvesta compare at a glance?
| Attribute | PayU | Winvesta |
|---|---|---|
| Best for | Indian businesses taking international card payments online | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Fees | 3% international + 18% GST; custom pricing for higher volume | 0.99% + USD 3 to 2,000/month; 0.2% above 100,000; GST conflicting |
| FX markup | Not confirmed; inter-bank rate, no margin published | States 0% markup on USD; non-USD not confirmed |
| Settlement | States T+2 business days in INR | USD 1 business day, EUR/GBP 2; 1 pm IST cut-off |
| FIRA | Not confirmed; not mentioned on public pages | Free e-FIRA emailed within 24 hours |
| Currencies | States 135+ currencies including USD, EUR, GBP, settled in INR | Conflicting: 30+ or 37+ currencies; local USD, EUR, GBP, CAD |
| RBI status | Not confirmed; no PA-CB claim or RBI listing verified | States RBI compliant; PA-CB not confirmed on RBI page |
| Indian individuals | Freelancers addressed; eligibility without entity not confirmed | Yes, freelancers with PAN and Aadhaar |
| Indian businesses | Yes, subject to PayU and bank due diligence | Yes, with business registration details |
| Limits | Not confirmed | No limits on incoming transactions in USD and 30 other currencies; funds may be held in the account for a maximum of 9 months |
How much INR do you receive on $2,000, $5,000 and $10,000 with PayU vs Winvesta?
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 |
|---|---|---|---|---|---|---|
| PayU, $2,000 | – | – | – | Not published | – | Indian businesses taking international card payments online |
| PayU, $5,000 | – | – | – | Not published | – | Indian businesses taking international card payments online |
| PayU, $10,000 | – | – | – | Not published | – | Indian businesses taking international card payments online |
| Winvesta, $2,000 | – | – | – | Not published | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Winvesta, $5,000 | – | – | – | Not published | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Winvesta, $10,000 | – | – | – | Not published | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
What is PayU and who is it for?
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
What is Winvesta and who is it for?
Winvesta, run by Winvesta India Technologies Private Limited, offers a Global Collections Account (marketed as a multi-currency account) that gives Indian freelancers and businesses local foreign-currency account details. Clients pay into these accounts, and the user withdraws the funds to an Indian bank account in INR with an e-FIRA. Winvesta also offers card collections through payment links and a US stock investment app.
- Regulated by: States it is an online payment gateway service provider that facilitates cross-border collections under RBI regulations; RBI PA-CB authorisation not confirmed on an RBI page
- Used by: Yes. Indian businesses can open an account with PAN, Aadhaar, a marketing channel link, bank details and business registration details.
- Best for: Indian freelancers and small businesses collecting under 2,000 a month per currency
How do PayU and Winvesta fees and FX markup compare?
What does PayU charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: International credit and debit cards (Visa, Mastercard, American Express) | 3% for international transactions plus 18% GST on the standard plan; FX markup not confirmed | PayU's international payments page says specific rates come from an account manager or care@payu.in | Indian businesses taking international card payments online |
| Receiving: PayPal wallet at checkout | Not confirmed | – | Indian businesses taking international card payments online |
| Receiving: Foreign bank transfer (ACH, SWIFT) to local account details | Not offered | PayU's public pages do not describe any foreign account details | Indian businesses taking international card payments online |
| Currency conversion to INR | Not confirmed. PayU's terms say it converts at the inter-bank rate decided by the banks or card associations, shared in the daily merchant payment report (non-business days use the previous business day's rate); no margin over mid-market is published | When foreign currency is converted | Indian businesses taking international card payments online |
| Payout to an Indian bank | PayU converts international payments to INR and settles to the merchant's Indian bank account, typically within T+2 business days. The fee is deducted per transaction. Same-day or priority settlement may carry a nominal extra fee | When INR is sent to your account | Indian businesses taking international card payments online |
| Setup, onboarding or annual fee | None on the standard plan | – | Indian businesses taking international card payments online |
| Same-day or priority settlement | Nominal fee may apply; amount not published | – | Indian businesses taking international card payments online |
| Domestic payments | 2% for Visa, Mastercard, net banking, BNPL and wallets; 3% for Diners, American Express and EMI; plus 18% GST | – | Indian businesses taking international card payments online |
| Currency Calculator Fee (multicurrency checkout) | Charged to the paying customer, not the merchant, at a rate PayU specifies at the time of payment, with the customer's consent (international card terms, clause 1.2(g)); rate not published | – | Indian businesses taking international card payments online |
| GST on fees | PayU's pricing page states "18% GST applicable on all transactions". It does not spell out the base further; GST is shown alongside its transaction fees | Applies to the platform's fee | Indian businesses taking international card payments online |
What does Winvesta charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: US ACH, FedWire or RTP to local USD account details | USD 3 + 0.99% per transaction (monthly USD volume up to 2,000); custom from 2,000 to 100,000 a month; 0.2% above 100,000 a month | ACH typically 1-3 business days; RTP instant; FedWire same day | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Receiving: SWIFT to USD account details (payers outside the US) | Same USD collection fee as above | Usually 1-2 business days depending on the banks involved; no limit on the amount received | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Receiving: EUR and GBP local accounts | EUR 5 + 0.99% and GBP 5 + 0.99% per transaction (monthly volume up to 2,000 in that currency); custom from 2,000 to 100,000; 0.2% above 100,000 a month | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Receiving: Card payments via payment links | Not confirmed | Help centre examples use an MDR with 18% GST on the MDR, but the rate itself is not confirmed on a pricing page | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Currency conversion to INR | Product page states '0% forex markup' and 'ZERO FX on USD'; the applied FX rate and booking time are shown after withdrawal; non-USD markup Not confirmed | When foreign currency is converted | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Payout to an Indian bank | Funds are withdrawn to the user's Indian bank account in INR. USD reaches the bank 1 business day after processing and EUR or GBP 2 business days after, with a 1:00 PM IST cut-off. A separate fee for standard withdrawals is Not confirmed; priority processing for USD typically costs an additional $15-25. | When INR is sent to your account | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Account opening, set-up or maintenance | None stated: a Winvesta blog post (12 January 2026) says there are no fees for signing up, maintaining the account or receiving wire transfers | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Minimum balance | None | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Priority withdrawal processing | USD typically $15-25 extra; non-USD varies | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| e-FIRA | Free | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| Other standard-plan currencies | AED 30, AUD 10, CHF 10, CZK 140, DKK 45, HKD 50, NOK 65, PLN 25, SEK 70 or SGD 10 + 0.99% per transaction; unlisted currencies equivalent of USD 5 + 0.99%; the product-page calculator uses CAD 7 + 0.99% for CAD, which the charges FAQ does not list | – | Freelancers and small businesses collecting under 2,000 monthly per currency |
| GST on fees | Not stated in one place. The charges FAQ states 18% GST will be levied on Winvesta fees for every non-JPMC account and does not explain which accounts are JPMC accounts. The fee calculator on the multi-currency account page (script) applies GST at 18% of the payment fee only for non-USD currencies and shows no GST for USD. A Winvesta blog post dated 12 January 2026 says 'No extra GST charges apply to your transactions'. For card collections, GST applies only to the MDR fee. | Applies to the platform's fee | Freelancers and small businesses collecting under 2,000 monthly per currency |
How do PayU and Winvesta compare on settlement speed?
- PayU: T+2 business days in INR, as PayU states; same-day and priority settlement offered to some business categories, possibly for a fee
- Winvesta: USD withdrawals reach the Indian bank 1 business day after processing (1:00 PM IST cut-off); EUR and GBP 2 business days
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| PayU | States T+2 business days in INR | INR to Indian bank, typically T+2; fee deducted per transaction | Indian businesses taking international card payments online |
| Winvesta | USD 1 business day, EUR/GBP 2; 1 pm IST cut-off | INR to Indian bank; standard fee not confirmed, priority $15-25 | Freelancers and small businesses collecting under 2,000 monthly per currency |
Do PayU and Winvesta provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| PayU | Not confirmed; not mentioned on public pages | Not confirmed; no PA-CB claim or RBI listing verified | 30 Sept 2026 | Indian businesses taking international card payments online |
| Winvesta | Free e-FIRA emailed within 24 hours | States RBI compliant; PA-CB not confirmed on RBI page | 30 Sept 2026 | Freelancers and small businesses collecting under 2,000 monthly per currency |
Which currencies, countries and payment methods do PayU and Winvesta support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| PayU | States 135+ currencies including USD, EUR, GBP, settled in INR | International credit and debit cards (Visa, Mastercard, American Express); PayPal wallet at checkout; Foreign bank transfer (ACH, SWIFT) to local account details | Freelancers addressed; eligibility without entity not confirmed | Yes, subject to PayU and bank due diligence | Indian businesses taking international card payments online |
| Winvesta | Conflicting: 30+ or 37+ currencies; local USD, EUR, GBP, CAD | US ACH, FedWire or RTP to local USD account details; SWIFT to USD account details (payers outside the US); EUR and GBP local accounts; Card payments via payment links | Yes, freelancers with PAN and Aadhaar | Yes, with business registration details | Freelancers and small businesses collecting under 2,000 monthly per currency |
What are the strengths and limitations of PayU and Winvesta?
PayU
- Published base rate: the standard plan lists 3% for international transactions, plus 18% GST
- No fixed costs: no setup, onboarding or annual fees on the standard plan
- Fast settlement: T+2 business days to an Indian bank account
- One checkout: domestic and international payments run through the same gateway
- FX markup not published: PayU's terms name an inter-bank rate set by banks or card associations but do not state its margin over mid-market
- No bank transfer receiving: there are no local USD, GBP or EUR account details for clients who pay by wire or ACH
- Pricing on request and approval needed: the international payments page sends merchants to an account manager for detailed rates, and PayU's international card terms say the service is provided at PayU's discretion, subject to extra due diligence by PayU and its acquiring and nodal banks
- FIRA not documented: PayU's public pages say nothing about FIRA or FIRC for international receipts
Winvesta
- Published USD pricing: $3 + 0.99% per transaction on the standard plan, listed per currency in the help centre
- FX markup: States '0% forex markup' and 'ZERO FX on USD' on its multi-currency account page
- FIRA: Free e-FIRA emailed within 24 hours and downloadable from the dashboard
- Limits: States no limits on incoming transactions in USD and 30 other currencies
- Mid-volume pricing: collections between 2,000 and 100,000 a month per currency are on custom pricing that is not published, and tiers depend on monthly volume rather than invoice size
- GST: the charges FAQ adds 18% GST to fees for non-JPMC accounts without defining them; the product-page calculator applies it only to non-USD fees, and blog pages say 'No GST'
- Holding period: Funds can be held in the account for a maximum of 9 months
- No outgoing payments: Payments cannot be made directly from the collections account
Should you choose PayU or Winvesta?
- Choose PayU if: you need Indian businesses taking international card payments on a website or checkout.
- Choose Winvesta if: you need Indian freelancers and small businesses collecting under 2,000 a month per currency.
For example, an exporter billing $5,000 a month: Neither platform publishes full pricing for Indian users.
Which other platforms should you consider besides PayU and Winvesta?
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 | ₹4,71,037 | 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 | ₹4,68,686 | 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 | ₹4,65,665 | 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 | ₹4,65,286 | 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.
- 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)
- 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)
- 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)
- Winvesta FAQ: What are the charges for the global collections account?, Up to 2,000 a month: 0.99% + a small fixed fee; 2,000-100,000 a month: custom pricing; above 100,000 a month: flat 0.2%; USD Collections: $3 + 0.99%; 18% GST will be levied on Winvesta fees for every non-JPMC account (checked 7 Oct 2026)
- Winvesta Multi-Currency Business Account, Receive international payments at 0% forex markup; ZERO FX on USD; embeds a fee calculator: 'Payment fee @ 0.99% + $3.00'; 'GST (18% of payment fee converted to INR)' (checked 7 Oct 2026)
- Winvesta FAQ: How is Winvesta regulated? (checked 6 Oct 2026)
- Winvesta FAQ: Is Winvesta compliant with India's regulations? (checked 6 Oct 2026)
- Winvesta FAQ: How long does it take for funds to reach my Indian bank account? (checked 6 Oct 2026)
- Winvesta FAQ: When will I receive my e-FIRA certificate? (checked 6 Oct 2026)
- Winvesta FAQ: When will I get my Free FIRA? (checked 6 Oct 2026)
- Winvesta FAQ: How do I receive USD? (checked 6 Oct 2026)
- Winvesta FAQ: What are the transaction limits on my account? (checked 6 Oct 2026)
- Winvesta FAQ: What is the maximum time I can keep funds in my GCA? (checked 6 Oct 2026)
- Winvesta FAQ: Can I get priority processing for my withdrawal? (checked 6 Oct 2026)
- Winvesta FAQ: How is GST applied? (checked 6 Oct 2026)
- Winvesta FAQ: What documents do I need for KYC? (checked 6 Oct 2026)
- Winvesta FAQ: Documents to open a global collection account as a freelancer (checked 6 Oct 2026)
- Winvesta FAQ: Documents to open a global collections account as a business owner (checked 6 Oct 2026)
- Winvesta FAQ: Is there any minimum account balance that I need to maintain? (checked 6 Oct 2026)
- Winvesta FAQ: What currencies are available with local accounts? (checked 6 Oct 2026)
- Winvesta blog: PayPal vs Winvesta (12 January 2026), Withdrawal fees stand at $3 plus 0.99% of the amount; zero FX markup on USD conversions; No extra GST charges apply to your transactions; no fees for signing up, maintaining your account, or receiving wire transfers; page banner 'No FX markups. No GST. Funds in 1 day.' (checked 7 Oct 2026)
- Winvesta FAQ: How can I view the FX rate for the conversion of my funds?, Once your withdrawal is complete, you can see the FX rate used and the exact time it was applied (checked 7 Oct 2026)
- Winvesta multi-currency account fee calculator script, fixed fees USD 3, EUR 5, GBP 5, AED 30, AUD 10, CAD 7, CHF 10, CZK 140, DKK 45, HKD 50, NOK 65, PLN 25, SEK 70, SGD 10; fee = amount x 0.99% + fixed fee; GST = 0.18 x fee when currency is not USD, otherwise 0 (checked 7 Oct 2026)
FAQs about PayU vs Winvesta
Is PayU or Winvesta 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, PayU or Winvesta?
PayU states: T+2 business days in INR, as PayU states; same-day and priority settlement offered to some business categories, possibly for a fee. Winvesta states: USD withdrawals reach the Indian bank 1 business day after processing (1:00 PM IST cut-off); EUR and GBP 2 business days.
Do PayU and Winvesta both provide a FIRA?
PayU: Not confirmed. PayU's public pages do not mention FIRA, FIRC or e-FIRC. Winvesta: Free e-FIRA emailed within 24 hours of funds reaching the Indian bank account, also downloadable from the portal. Check the platform's own pricing page before relying on these figures.
Are PayU and Winvesta authorised by RBI?
PayU: Not confirmed. PA-CB status could not be verified on rbi.org.in, and PayU's pages make no PA-CB claim. Winvesta: States it is an online payment gateway service provider that facilitates cross-border collections under RBI regulations; RBI PA-CB authorisation not confirmed on an RBI page.
Can Indian freelancers use both PayU and Winvesta?
PayU, individuals: PayU's international payments page addresses freelancers such as designers, developers, consultants and coaches. Its public pages do not state the KYC or entity conditions for individuals, so eligibility without a business entity is Not confirmed Winvesta, individuals: Yes. Eligibility can change, so confirm on each platform's sign-up pages.
Should I switch from PayU to Winvesta?
Switch only if Winvesta pays more on your usual invoice size or fits how your clients pay. Keep the PayU 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.