PingPong Review (2026): Fees, FIRA and Payout Experience for Indian Exporters
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
- Published:
- Last modified:
Short answer
PingPong is best for Indian marketplace sellers (Amazon and similar) collecting in multiple currencies. Cost: estimate only: Up to ₹4,68,638 on $5,000. Settlement: help centre: INR withdrawals succeed the same day (T+0) if submitted before the 2:30 pm cut-off, otherwise the next day (T+1); non-INR withdrawals within 1-3 days.
| Criterion | Verdict | Basis | Best for |
|---|---|---|---|
| Cost | Estimate only: Up to ₹4,68,638 on $5,000 | Landed INR on a $5,000 invoice at today's reference rate | Comparing total cost |
| Speed | Conflicting: T+0 before 2:30 pm cut-off, or 1-2 days | As stated by PingPong | Cash-flow planning |
| Compliance documents | Free digital FIRC per transaction, 3-5 business days | FIRA or FIRC availability | GST refunds and tax records |
| RBI status | States OPGSP via RBI-approved liaison office; PA-CB not confirmed | Authorisation for cross-border payments | Regulatory comfort |
| Availability | Yes, sellers, exporters and service businesses | Who can open an account in India | Checking eligibility |
Is PingPong good for Indian exporters and freelancers?
PingPong is best for Indian marketplace sellers (Amazon and similar) collecting in multiple currencies. It is a weaker fit for individual freelancers who want published FX and GST pricing before signing up.
| Criterion | Verdict | Basis | Best for |
|---|---|---|---|
| Cost | Estimate only: Up to ₹4,68,638 on $5,000 | Landed INR on a $5,000 invoice at today's reference rate | Comparing total cost |
| Speed | Conflicting: T+0 before 2:30 pm cut-off, or 1-2 days | As stated by PingPong | Cash-flow planning |
| Compliance documents | Free digital FIRC per transaction, 3-5 business days | FIRA or FIRC availability | GST refunds and tax records |
| RBI status | States OPGSP via RBI-approved liaison office; PA-CB not confirmed | Authorisation for cross-border payments | Regulatory comfort |
| Availability | Yes, sellers, exporters and service businesses | Who can open an account in India | Checking eligibility |
What is PingPong and who is it for?
PingPong is a cross-border payments company founded in New York in 2015 and headquartered in Hangzhou, China, which has operated in India since July 2019 from a Bengaluru office. Indian e-commerce sellers, exporters and freelancers open virtual receiving accounts in foreign currencies, link them to marketplaces or share them with clients, and withdraw to an Indian bank account in INR or, through an EEFC account, in foreign currency.
- Regulated by: States its India Liaison Office is RBI-approved (UIN BGLO19008226) and that it acts as an OPGSP; RBI PA-CB authorisation Not confirmed
- Used by: Yes. India pages target e-commerce sellers, exporters and service businesses; KYC includes business information.
- Best for: Indian marketplace sellers (Amazon and similar) collecting in multiple currencies
How do you open a PingPong account in India?
- Check eligibility: Yes. India pages target e-commerce sellers, exporters and service businesses; KYC includes business information.
- Sign up on PingPong's official website and choose the account type that matches your business.
- Complete KYC with the documents listed below for your entity type.
- Add your Indian bank account for INR payouts.
- Share the receiving details or payment link with your client, and check the purpose code and FIRA settings before the first payment.
| Document | Best for |
|---|---|
| Personal identification documents | Indian account holders |
| Proof of address | Indian account holders |
| Fund source verification (if required) | Indian account holders |
| Business information; sole proprietors may be asked for a business certificate, tax proof or other relevant documentation | Indian account holders |
| Indian bank account to link the receiving account to (per the Amazon seller page) | Indian account holders |
What are PingPong fees and FX markup?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Local virtual receiving accounts (e.g. USD routing and account number) linked to marketplaces | Free to receive per help centre; 1% on withdrawal | Help centre lists Amazon, AliExpress, eBay, TikTok, Shopee and others, developer platforms such as Google and App Store, and platforms paying via PayPal or Stripe | Indian marketplace sellers collecting in multiple currencies |
| Receiving: Direct bank or wire transfer from overseas buyers | Free to receive per help centre; 1% on withdrawal | Requires invoice or contract for inbound approval; some accounts reject funds from individual payers | Indian marketplace sellers collecting in multiple currencies |
| Receiving: Payment request or invoice | Not confirmed | India pages say bank transfers and US debit card payments are accepted | Indian marketplace sellers collecting in multiple currencies |
| Currency conversion to INR | Not confirmed: the terms say conversion is at the rate PingPong determines at transaction time; the Amazon seller page describes pricing as 'all-inclusive up to 1%'; no separate FX markup is published | When foreign currency is converted | Indian marketplace sellers collecting in multiple currencies |
| Payout to an Indian bank | Funds are withdrawn automatically to a linked Indian bank account in INR (T+0 before the 2:30 pm cut-off, else T+1) or to an EEFC account in foreign currency (1-3 days); the help centre states a 1% withdrawal fee that may vary by region. | When INR is sent to your account | Indian marketplace sellers collecting in multiple currencies |
| Account opening | Free | – | Indian marketplace sellers collecting in multiple currencies |
| Receiving account | 'Most accounts are free to use' | – | Indian marketplace sellers collecting in multiple currencies |
| Withdrawal to own bank account or supplier payment | 1% per transaction (may vary by region) | – | Indian marketplace sellers collecting in multiple currencies |
| Digital FIRC | Free | – | Indian marketplace sellers collecting in multiple currencies |
| VAT and global tax payments | No additional fee, per India pages | – | Indian marketplace sellers collecting in multiple currencies |
| Transfers within the PingPong network | No charge, per the India B2B page (listed under supplier payments for businesses with US/UK/EU entities) | – | Indian marketplace sellers collecting in multiple currencies |
| GST on fees | Not confirmed: PingPong's India pages and terms do not state whether GST is charged on its fees. The India home page's 'Pay VAT/GST and other taxes with no additional costs' refers to paying taxes from the balance, not to GST on PingPong's fees. | Applies to the platform's fee | Indian marketplace sellers collecting in multiple currencies |
How much INR do you receive on $2,000, $5,000 and $10,000 with PingPong?
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| PingPong, $2,000 | – | – | – | Not published | – | Indian marketplace sellers collecting in multiple currencies |
| PingPong, $5,000 | – | – | – | Not published | – | Indian marketplace sellers collecting in multiple currencies |
| PingPong, $10,000 | – | – | – | Not published | – | Indian marketplace sellers collecting in multiple currencies |
How fast does PingPong settle payments to India?
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| PingPong | Conflicting: T+0 before 2:30 pm cut-off, or 1-2 days | Auto INR, T+0 before 2:30 pm else T+1; 1% fee, may vary | Indian marketplace sellers collecting in multiple currencies |
Does PingPong provide FIRA and e-BRC, and is it RBI PA-CB authorised?
PingPong's licensing page states that RBI has approved its India Liaison Office (UIN BGLO19008226) and that it acts in India as an Online Payment Gateway Service Provider (OPGSP); a separate India page says this is with partner Citibank. These are the platform's own claims. Authorisation as a Payment Aggregator - Cross Border (PA-CB) was not confirmed on an RBI page. The India section of its Terms and Conditions lists the RBI PA-CB regulations among applicable laws and says Eligible Inbound funds are held in an Export Collection Account with an Authorized Dealer bank in India; the contracting entity for India is PingPong Global Solutions Inc., a New York corporation.
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| PingPong | Free digital FIRC per transaction, 3-5 business days | States OPGSP via RBI-approved liaison office; PA-CB not confirmed | 30 Sept 2026 | Indian marketplace sellers collecting in multiple currencies |
Which currencies, countries and payment methods does PingPong support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| PingPong | Receives USD, EUR, GBP, AUD, CAD, JPY and more; INR or EEFC | Local virtual receiving accounts (e.g. USD routing and account number) linked to marketplaces; Direct bank or wire transfer from overseas buyers; Payment request or invoice | Not confirmed without business registration | Yes, sellers, exporters and service businesses | Indian marketplace sellers collecting in multiple currencies |
What are the pros and cons of PingPong?
Pros
- Marketplace focus: India pages list Amazon US, UK, EU, Japan, Canada and Australia, plus other marketplaces and PayPal or Stripe payouts
- Fast INR payout: help centre says same day for INR withdrawals submitted before 2:30 pm (the freelancer page says 1-2 working days)
- Free FIRC: digital FIRC per transaction at no charge
- Free receiving: help centre says opening an account and receiving payments is free
- Virtual receiving accounts in multiple currencies; the help centre asks for a separate receiving account for each platform you receive from
- Automatic withdrawal to a linked Indian bank account in INR or to an EEFC account in foreign currency
Cons
- Pricing opacity: the 1% figure 'may vary from region to region' and no FX markup or GST treatment is published
- Regulatory status in India: platform describes itself as an OPGSP with an RBI-approved liaison office; PA-CB authorisation not confirmed on an RBI page
- Inbound checks: wire transfers need order information (invoice or contract) for approval, and rejected payments take around 15-20 working days to return
- Personal payers: some receiving accounts do not accept funds from individual accounts
Is PingPong worth it for Indian exporters and freelancers?
PingPong is worth considering for Indian marketplace sellers (Amazon and similar) collecting in multiple currencies. It is a weaker fit for individual freelancers who want published FX and GST pricing before signing up.
What are the best alternatives to PingPong?
Other platforms ranked by the INR received on a $5,000 invoice. See the full PingPong alternatives comparison.
| 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 | ₹4,70,132 | 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 | ₹4,67,786 | 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 | ₹4,64,770 | 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 | ₹4,64,391 | Existing HDFC customers wanting free SWIFT receipts or EEFC accounts |
How did we verify this?
Fees, FIRA terms and RBI status were checked on PingPong's own pages and RBI sources on 30 Sept 2026. INR figures use the XE mid-market rate for 4 Nov 2026. User ratings are not included because they were not independently checked.
- PingPong India home, Digital FIRCs in your PingPong dashboard. Free of cost; All fee charges are shown on the account dashboard (checked 7 Oct 2026)
- PingPong India: For Amazon Sellers, All-inclusive transaction fee up to 1%; FIRC for each transaction (checked 6 Oct 2026)
- PingPong India: Freelancers and service providers (checked 6 Oct 2026)
- PingPong India: E-commerce sellers (checked 6 Oct 2026)
- PingPong India: B2B payments, OPGSP with partner Citibank; no charge for transfers within network (checked 6 Oct 2026)
- PingPong India: Value added services (checked 6 Oct 2026)
- PingPong India: Licensing and regulation, RBI-approved liaison office BGLO19008226; OPGSP (checked 6 Oct 2026)
- PingPong India: About us (checked 6 Oct 2026)
- Help centre: What is the charging standard?, Creating a PingPong account and receiving payment is free of charge. Withdraw balance ... will be charged 1% per transaction. However, fee standard may vary from region to region (checked 7 Oct 2026)
- Help centre: What does KYC mean? (checked 6 Oct 2026)
- Help centre: What does sole proprietorship mean? (checked 6 Oct 2026)
- Help centre: How long does the verification process take? (checked 6 Oct 2026)
- Help centre: How does your virtual account charge? (checked 6 Oct 2026)
- Help centre: Which currencies are supported? (checked 6 Oct 2026)
- Help centre: Which platforms can I receive payments from? (checked 6 Oct 2026)
- Help centre: Can I receive funds through wire transfer? (checked 6 Oct 2026)
- Help centre: Transfer conditions (checked 6 Oct 2026)
- Help centre: Increase virtual account limit (checked 6 Oct 2026)
- Help centre: How can I withdraw funds?, INR T+0 before 2:30 pm cut-off; non-INR 1-3 days (checked 6 Oct 2026)
- Help centre: How can I get a FIRC?, 3-5 business days (checked 6 Oct 2026)
- PingPong Terms and Conditions (incl. Exhibit A, Customer Location in India), value not exceeding the equivalent of ₹25,00,000 (approximately US$30,000) per transaction; conversion at the foreign exchange rate at the applicable transaction time as determined by PingPong; Export Collection Account with an AD Bank in India (checked 7 Oct 2026)
FAQs about PingPong
Is PingPong safe to use for receiving international payments in India?
PingPong's regulatory position for Indian users: States its India Liaison Office is RBI-approved (UIN BGLO19008226) and that it acts as an OPGSP; RBI PA-CB authorisation Not confirmed. These are the platform's own claims. Authorisation as a Payment Aggregator - Cross Border (PA-CB) was not confirmed on an RBI page.
Can Indian freelancers open a PingPong account?
Individuals: Not confirmed. India pages market to freelancers and service providers, and the help centre lists sole proprietorship as a business type requiring business documents; whether an individual without a business registration can sign up is not stated. Businesses: Yes. India pages target e-commerce sellers, exporters and service businesses; KYC includes business information.
How much does PingPong cost on a $5,000 invoice?
PingPong does not publish enough pricing for Indian users to calculate the INR received on a $5,000 invoice. The fee table on this page lists every charge PingPong does publish, so you can estimate the cost for your own invoices.
How long does PingPong take to settle payments to India?
PingPong states: Help centre: INR withdrawals succeed the same day (T+0) if submitted before the 2:30 pm cut-off, otherwise the next day (T+1); non-INR withdrawals within 1-3 days. The freelancer page separately says INR withdrawals take 1-2 working days. Check the platform's own pricing page before relying on these figures.
Does PingPong give a FIRA or FIRC?
PingPong India says users receive a digital FIRC for each transaction free of cost in the dashboard, and the Amazon seller page says FIRC is sent to the registered email. The help centre describes applying for FIRC from the Transactions tab, with completion in 3-5 business days and single or bulk download.
What are the main drawbacks of PingPong?
The main limitations found on PingPong's own pages are: Pricing opacity: the 1% figure 'may vary from region to region' and no FX markup or GST treatment is published; Regulatory status in India: platform describes itself as an OPGSP with an RBI-approved liaison office; PA-CB authorisation not confirmed on an RBI page.