PingPong vs PayU (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. PayU is best for Indian businesses taking international card payments on a website or checkout.
| 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: Indian businesses taking international card payments on a website or checkout | PayU | PayU is built for this. |
How do PingPong and PayU compare at a glance?
| Attribute | PingPong | PayU |
|---|---|---|
| Best for | Indian marketplace sellers collecting in multiple currencies | Indian businesses taking international card payments online |
| Fees | Free receiving; 1% withdrawal, may vary by region | 3% international + 18% GST; custom pricing for higher volume |
| FX markup | Not confirmed; Amazon page states all-inclusive up to 1% | Not confirmed; inter-bank rate, no margin published |
| Settlement | Conflicting: T+0 before 2:30 pm cut-off, or 1-2 days | States T+2 business days in INR |
| FIRA | Free digital FIRC per transaction, 3-5 business days | Not confirmed; not mentioned on public pages |
| Currencies | Receives USD, EUR, GBP, AUD, CAD, JPY and more; INR or EEFC | States 135+ currencies including USD, EUR, GBP, settled in INR |
| RBI status | States OPGSP via RBI-approved liaison office; PA-CB not confirmed | Not confirmed; no PA-CB claim or RBI listing verified |
| Indian individuals | Not confirmed without business registration | Freelancers addressed; eligibility without entity not confirmed |
| Indian businesses | Yes, sellers, exporters and service businesses | Yes, subject to PayU and bank due diligence |
| 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 PayU?
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 |
| 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 |
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 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
How do PingPong and PayU 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 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 |
How do PingPong and PayU 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
- PayU: T+2 business days in INR, as PayU states; same-day and priority settlement offered to some business categories, possibly for a fee
| 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 |
| 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 |
Do PingPong and PayU 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 |
| 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 |
Which currencies, countries and payment methods do PingPong and PayU 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 |
| 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 |
What are the strengths and limitations of PingPong and PayU?
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
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
Should you choose PingPong or PayU?
- Choose PingPong if: you need Indian marketplace sellers (Amazon and similar) collecting in multiple currencies.
- Choose PayU if: you need Indian businesses taking international card payments on a website or checkout.
For example, an exporter billing $5,000 a month: Neither platform publishes full pricing for Indian users.
Which other platforms should you consider besides PingPong and PayU?
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 | ₹4,70,250 | 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 | ₹4,67,903 | 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 | ₹4,64,886 | 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 | ₹4,64,508 | 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)
- 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)
FAQs about PingPong vs PayU
Is PingPong or PayU 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 PayU?
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 PayU 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. PayU: Not confirmed. PayU's public pages do not mention FIRA, FIRC or e-FIRC. Check the platform's own pricing page before relying on these figures.
Are PingPong and PayU 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. PayU: Not confirmed. PA-CB status could not be verified on rbi.org.in, and PayU's pages make no PA-CB claim.
Can Indian freelancers use both PingPong and PayU?
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. PayU, individuals: PayU's international payments page addresses freelancers such as designers, developers, consultants and coaches.
Should I switch from PingPong to PayU?
Switch only if PayU 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.