PingPong vs Adyen (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. PingPong is best for Indian marketplace sellers (Amazon and similar) collecting in multiple currencies. Adyen is best for large enterprises accepting card and UPI payments from Indian shoppers.
| 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 marketplace sellers (Amazon and similar) collecting in multiple currencies | PingPong | PingPong is built for this. |
| Need: large enterprises accepting card and UPI payments from Indian shoppers | Adyen | Adyen is built for this. |
How do PingPong and Adyen compare at a glance?
| Attribute | PingPong | Adyen |
|---|---|---|
| Best for | Indian marketplace sellers collecting in multiple currencies | Large enterprises accepting card and UPI from Indian shoppers |
| Fees | Free receiving; 1% withdrawal, may vary by region | Indicative $0.13/txn + Interchange++ + 0.60% for cards; custom pricing |
| FX markup | Not confirmed; Amazon page states all-inclusive up to 1% | Not confirmed: reference rate + contract-set FX fee, not published |
| Settlement | Conflicting: T+0 before 2:30 pm cut-off, or 1-2 days | INR local payout, up to two days; export timing unpublished |
| FIRA | Free digital FIRC per transaction, 3-5 business days | Not confirmed: no FIRA or FIRC provision published |
| Currencies | Receives USD, EUR, GBP, AUD, CAD, JPY and more; INR or EEFC | Fees in USD; multi-currency bank accounts; accepts INR from Indian shoppers |
| RBI status | States OPGSP via RBI-approved liaison office; PA-CB not confirmed | States PA-Online and PA-CB-Outward; not independently confirmed |
| Indian individuals | Not confirmed without business registration | Not confirmed: no offering for Indian individuals |
| Indian businesses | Yes, sellers, exporters and service businesses | Domestic acquiring yes; export receipts not confirmed |
| Limits | PingPong's Terms and Conditions (India section) allow receipts for exports of goods or services of value not exceeding the equivalent of INR 25,00,000 (about USD 30,000) per transaction. Receiving accounts also have a virtual account limit that can be raised by applying in the dashboard; specific amounts Not confirmed. | Not confirmed |
How much INR do you receive on $2,000, $5,000 and $10,000 with PingPong vs Adyen?
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 |
|---|---|---|---|---|---|---|
| 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 |
| Adyen, $2,000 | – | – | – | Not published | – | Large enterprises accepting card and UPI from Indian shoppers |
| Adyen, $5,000 | – | – | – | Not published | – | Large enterprises accepting card and UPI from Indian shoppers |
| Adyen, $10,000 | – | – | – | Not published | – | Large enterprises accepting card and UPI from Indian shoppers |
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
What is Adyen and who is it for?
Adyen is a Netherlands-headquartered payment platform for enterprise merchants. Its India page states it has operated in India since 2018 and holds RBI authorisations for domestic online payments and cross-border outward payments, which cover global brands collecting INR from Indian shoppers. It does not publish a product for Indian freelancers or exporters to receive foreign client payments into an Indian bank account.
- Regulated by: States it holds RBI authorisations for domestic (PA-Online) and cross-border outward (PA-CB-Outward) payments; not independently confirmed on an RBI list
- Used by: Indian businesses can use Adyen for domestic online acquiring (PA-Online, as stated by Adyen); use for receiving export payments from foreign clients is not confirmed
- Best for: Large enterprises accepting card and UPI payments from Indian shoppers
How do PingPong and Adyen fees and FX markup compare?
What does PingPong charge?
| 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 |
What does Adyen charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: International card payments (Visa/Mastercard) via online checkout | $0.13 + Interchange++ + 0.60% (indicative, global pricing page) | Availability for an Indian exporter collecting from foreign cardholders is not confirmed | Large enterprises accepting card and UPI from Indian shoppers |
| Receiving: Local bank transfer account details for foreign clients | Not confirmed | Not offered as a published product for Indian recipients | Large enterprises accepting card and UPI from Indian shoppers |
| Currency conversion to INR | Not confirmed: Adyen converts at its FX reference rate plus an FX management fee (spread); how the spread is calculated is set in the merchant's contract and by default differs by currency category (USD category one, INR category two); no figure is published | When foreign currency is converted | Large enterprises accepting card and UPI from Indian shoppers |
| Payout to an Indian bank | Adyen's payout currency docs list INR as the settlement currency for its India acquiring connection, with funds held in India and paid out locally, and say INR can only be paid out to a local bank account in India (SWIFT payouts are not supported for INR). Payout fees and any route for export proceeds are not published. | When INR is sent to your account | Large enterprises accepting card and UPI from Indian shoppers |
| Setup or monthly fee | None, per pricing page | – | Large enterprises accepting card and UPI from Indian shoppers |
| Minimum invoice | Depends on industry or business model (not published) | – | Large enterprises accepting card and UPI from Indian shoppers |
| American Express | $0.13 + 3.95% global (indicative) | – | Large enterprises accepting card and UPI from Indian shoppers |
| UPI | $0.13 + defined by funding source used (India pricing page, indicative) | – | Large enterprises accepting card and UPI from Indian shoppers |
| RuPay | $0.13 + on request (India pricing page) | – | Large enterprises accepting card and UPI from Indian shoppers |
| GST on fees | Adyen's help centre lists Adyen India service invoices with GST: 'GST rate 18% if the merchant is in Maharashtra. Or CGST of 9% and SGST of 9% if the merchant is located outside Maharashtra', as worded on the page. Either way the total is 18% on Adyen's service fees. | Applies to the platform's fee | Large enterprises accepting card and UPI from Indian shoppers |
How do PingPong and Adyen compare on settlement speed?
- PingPong: 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
- Adyen: Adyen's docs list INR as the settlement currency for its India acquiring connection, paid out locally to a bank account in India, and say payouts can take up to two days to arrive depending on the currencies and banks involved; no timeline for export receipts is published
| 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 |
| Adyen | INR local payout, up to two days; export timing unpublished | INR to local Indian bank account only; payout fees not published | Large enterprises accepting card and UPI from Indian shoppers |
Do PingPong and Adyen provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| 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 |
| Adyen | Not confirmed: no FIRA or FIRC provision published | States PA-Online and PA-CB-Outward; not independently confirmed | 30 Sept 2026 | Large enterprises accepting card and UPI from Indian shoppers |
Which currencies, countries and payment methods do PingPong and Adyen 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 |
| Adyen | Fees in USD; multi-currency bank accounts; accepts INR from Indian shoppers | International card payments (Visa/Mastercard) via online checkout; Local bank transfer account details for foreign clients | Not confirmed: no offering for Indian individuals | Domestic acquiring yes; export receipts not confirmed | Large enterprises accepting card and UPI from Indian shoppers |
What are the strengths and limitations of PingPong and Adyen?
PingPong
- 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
- 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
Adyen
- Pricing transparency: Interchange++ model with published indicative scheme markup
- India presence: States local operations since 2018 and its own RBI authorisations
- Payment methods: UPI, cards and local rails for Indian shoppers
- Scale: Built for enterprise merchants with high volumes
- Not for export receipts: Published RBI authorisation is PA-CB-Outward (Indian shoppers paying foreign merchants), not inward export collection
- Enterprise focus: Minimum invoice depends on industry or business model; onboarding through sales
- No individuals: No published route for Indian freelancers or individuals
- Opaque totals: interchange varies per card, published fees are labelled indicative, and the FX management spread is set in the contract rather than published
Should you choose PingPong or Adyen?
- Choose PingPong if: you need Indian marketplace sellers (Amazon and similar) collecting in multiple currencies.
- Choose Adyen if: you need large enterprises accepting card and UPI payments from Indian shoppers.
For example, an exporter billing $5,000 a month: Neither platform publishes full pricing for Indian users.
Which other platforms should you consider besides PingPong and Adyen?
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 | ₹4,70,378 | 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 | ₹4,68,030 | 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 | ₹4,65,013 | 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 | ₹4,64,634 | 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.
- 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)
- Adyen India, Established in India since 2018; RBI PA-Online and PA-CB-Outward authorisations (checked 7 Oct 2026)
- Adyen pricing (India), Indicative fees: $0.13 fixed; Visa/Mastercard Interchange++ + 0.60%; Amex 3.95%; UPI defined by funding source; RuPay on request; minimum invoice depends on industry or business model; the fees outlined above are indicative; no monthly, set-up, integration or closure fees (checked 7 Oct 2026)
- Adyen pricing (global), Fixed processing fee plus payment-method fee; no setup or monthly fees; minimum invoice depends on industry (checked 6 Oct 2026)
- India expansion made easy, Accept online payments in INR from Indian shoppers with Adyen's own RBI licences (checked 6 Oct 2026)
- Adyen Visa payment method (India), Visa: $0.13 + Interchange+ + 0.60%; no monthly fees, set-up fees, integration fees or closure fees; INR not listed among settlement currencies (checked 7 Oct 2026)
- Adyen currency codes and FX management fee, Adyen applies a foreign currency exchange rate when a currency conversion takes place (FX reference rate) and charges an FX management fee, or spread, which by default differs based on the currency category; category one: AUD, CAD, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, USD, ZAR; category two: all other currencies; how this fee is calculated is included in your contract with Adyen (checked 7 Oct 2026)
- What kind of tax is applied to my invoice? (Adyen), Adyen India: GST rate 18% if the merchant is in Maharashtra. Or CGST of 9% and SGST of 9% if the merchant is located outside Maharashtra (checked 7 Oct 2026)
- Adyen Docs: Supported payout currencies, India (IN): settlement currency INR, funds held in India, local payout; certain currencies can only be paid out to a local bank account within a country or region where that currency is the official legal tender: BRL, INR, MYR, MXN, and AED; SWIFT payouts are not supported for these currencies (checked 7 Oct 2026)
- Adyen Docs: Getting paid, Depending on the currencies and banks involved, it may take up to two days for the payout funds to arrive in your account; like-for-like (no currency conversion) settlement if the currency is also supported as a settlement currency by the payment method (checked 7 Oct 2026)
FAQs about PingPong vs Adyen
Is PingPong or Adyen 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, PingPong or Adyen?
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.
Do PingPong and Adyen both provide a FIRA?
PingPong: Free digital FIRC per transaction, applied for from the dashboard; the help centre says applications complete in 3-5 business days. Adyen: Not confirmed: no FIRA or FIRC provision is published. A FIRA or FIRC is used as proof of export for GST refunds and income tax records, so confirm how each platform issues it before you invoice.
Are PingPong and Adyen authorised by RBI?
PingPong: States its India Liaison Office is RBI-approved (UIN BGLO19008226) and that it acts as an OPGSP; RBI PA-CB authorisation Not confirmed. Adyen: States it holds RBI authorisations for domestic (PA-Online) and cross-border outward (PA-CB-Outward) payments; not independently confirmed on an RBI list.
Can Indian freelancers use both PingPong and Adyen?
PingPong, 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. Check the platform's own pricing page before relying on these figures.
Should I switch from PingPong to Adyen?
Switch only if Adyen pays more on your usual invoice size or fits how your clients pay. Keep the PingPong 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.