How Do You Receive JPY (Japanese Yen) Payments in India in 2026?

The table ranks platforms with full published pricing for JPY by the INR received on JPY 790,000, then lists other business platforms that accept JPY, unranked. Fees were checked on 30 Sept 2026 or later.

The real JPY rate is the rupee amount received after all margins. The RBI exchange rates panel quotes the FBIL rate in rupees per 100 JPY. Banks pay a lower TT buying rate, and card or platform conversions add a markup. For example, Rs 60.30 received against an example mid-market rate of Rs 61.00 is a markup of about 1.1%.

Today's rate, its history and every platform's payout are on the JPY to INR rate page.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹0.6010 per JPY for 3 Nov 2026.

Indian residents can hold JPY export earnings in an Exchange Earner's Foreign Currency (EEFC) account with an AD bank. Up to 100% of export and professional earnings can be credited under the RBI Master Direction on Deposits and Accounts, paragraph 3.1. The account pays no interest. Check whether your bank offers EEFC accounts in JPY.

• Who qualifies: A person resident in India receiving foreign exchange earnings through normal banking channels, including exporters and professionals earning fees in an individual capacity, under paragraph 3.1.
• Conversion rule: Each calendar month's accruals should be converted into rupees by the last day of the next month, after adjusting for approved uses or forward commitments. Ask your AD bank how it applies paragraph 3.1.
• Uses: Balances can pay for permitted current and capital account transactions abroad, so JPY can settle yen costs such as Japanese suppliers or travel. Credit facilities against EEFC balances are not allowed under paragraph 3.1.
• Alternatives: Some providers of local JPY details may let you keep a yen balance before payout. Ask how the balance is held, and remember the rupee credit in India still needs export documents.

• Spot: Convert each JPY receipt at the rate on the day it arrives. This is simple and suits small, regular invoices.
• Forward contract: Fix a JPY to INR rate today for a future receipt with your AD bank. The hedge cannot exceed the value or tenor of the export exposure under RBI Master Direction on Risk Management and Inter-Bank Dealings, paragraph 2.4. Ask your bank whether it quotes JPY/INR forwards. See forward contracts for exporters.
• Limit order: Ask your bank or provider whether it can convert automatically when JPY reaches a rate you set per 100 yen, and what happens if the rate is never reached.
• Natural hedge: Keep JPY in an EEFC account and use it for yen expenses such as Japanese software, events or travel, so less needs converting.

A JPY export receipt follows the same rules as any foreign currency receipt. Payments from Japan, outside the Asian Clearing Union, may be in any foreign currency under the FEMA Manner of Receipt and Payment Regulations, 2023. You need a purpose code, proof of receipt and, for services, an EDF.

• Purpose code: Each inward remittance carries an RBI purpose code from the FETERS purpose code list. For example, P0802 is "Software consultancy/implementation (other than those covered in SOFTEX form)" and P1006 is "Business and management consultancy and public relations services".
• EDF: From 1 October 2026, service exporters file an Export Declaration Form within 30 days from the end of the invoice month under Regulation 3(2) of the FEMA Export and Import Regulations, 2026. Exporters of services other than software may instead file it on or before the date payment is received. The EDF replaces SOFTEX, as A.P. (DIR Series) Circular No. 20 superseded the SOFTEX circulars.
• Realisation: Export value must be realised within nine months, or twelve months if invoiced or settled in rupees, under Regulation 5 as amended on 22 September 2026. Your AD bank may extend this.
• FIRA: FIRA is not a term defined in FEMA or the 2026 Regulations. It is a bank or provider advice confirming the credit, and you keep it as proof of export receipt.
• PA-CB safety: Card and online checkout providers must be RBI-authorised PA-CBs. They hold export proceeds in a separate Inward Collection Account per currency, with a Rs 25 lakh cap per transaction, under the RBI Master Direction on Payment Aggregators, paragraphs 11 and 16.

Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are XE live mid-market rates, dated 3 Nov 2026. The method is on the methodology page.

1. Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB, Regulation 3(2): EDF for services within 30 days from the end of the month in which the invoice is raised; services other than software may submit on or before the date of receipt of payment; Regulation 5(1) as amended: nine months from date of invoice for services, twelve months if invoiced in INR (checked 8 Oct 2026)
2. RBI Notification No. FEMA 23(R)/(1)/2026-RB dated 22 September 2026: Amendment Regulations, Para 2: in regulation 5(1), 'fifteen months' replaced by 'nine months' and 'eighteen months' by 'twelve months'; in force from October 01, 2026 (checked 8 Oct 2026)
3. RBI A.P. (DIR Series) Circular No. 20, RBI/2025-26/194: Export and Import of Goods and Services (16 January 2026), Supersedes the listed export circulars, including A.P. (DIR Series) Circular No. 80 of 15 February 2012 (Simplification and Revision of Softex Procedure); effective from 1 October 2026 (checked 8 Oct 2026)
4. Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Notification No. FEMA 14(R)/2023-RB, Reg 3(2): receipts through an Authorised Bank or Authorised Person; for countries outside the ACU, receipt in INR or any foreign currency (checked 8 Oct 2026)
5. RBI Master Direction - Deposits and Accounts, Paragraph 3.1: EEFC account; 100 percent of foreign exchange earnings and professional earnings may be credited; non-interest bearing; accruals of a calendar month converted to INR by the last day of the succeeding month after approved uses; no credit facilities against EEFC balances (checked 8 Oct 2026)
6. RBI Master Direction on Regulation of Payment Aggregator (PA), RBI/DPSS/2025-26/141, Paragraph 11(d): maximum Rs 25 lakh per transaction for PA-CB; 11(h): documents for EDPMS closure; 16(a) and Table 1: Inward Collection Account, separate account for each non-INR currency (checked 8 Oct 2026)
7. RBI Master Direction - Money Transfer Service Scheme, Only cross-border personal remittances such as family maintenance are allowed; trade related remittances shall not be made through this arrangement; cap of USD 2,500 per remittance; 30 remittances per beneficiary per year (checked 8 Oct 2026)
8. RBI A.P. (DIR Series) Circular No. 84 (2012), FETERS purpose codes for receipts, P0802 Software consultancy/implementation (other than those covered in SOFTEX form); P0807 Off site software exports; P1006 Business and management consultancy and public relations services (checked 8 Oct 2026)
9. RBI Master Direction: Risk Management and Inter-Bank Dealings, Part A, Section I, paragraph 2.4(i): hedge not to exceed the value and tenor of the underlying exposure (checked 8 Oct 2026)
10. Integrated Goods and Services Tax Act, 2017, section 2 (CBIC tax information portal), Section 2(6): five conditions for export of services, including payment in convertible foreign exchange or INR where permitted by RBI (checked 8 Oct 2026)
11. Integrated Goods and Services Tax Act, 2017, section 16: Zero rated supply (CBIC tax information portal), Section 16(1): export of services is a zero-rated supply; section 16(3): supply under bond or LUT without payment of IGST (checked 8 Oct 2026)
12. Central Goods and Services Tax Rules, 2017, Rule 96A (CBIC tax information portal), Export of services without payment of IGST under a Letter of Undertaking in Form GST RFD-11 (checked 8 Oct 2026)
13. Reserve Bank of India home page: Exchange Rates panel, Exchange Rates: INR / 100 JPY (Source: FBIL), alongside INR / 1 USD, GBP, EUR and AED (checked 8 Oct 2026)
14. Zengin-Net: Zengin System, Zengin System relays domestic credit transfers, connecting banks online; covers almost all private banks in Japan; data of fund transfer advices forwarded by the Zengin Center to the recipient's bank in real time (checked 8 Oct 2026)
15. Zengin-Net: The Zengin Data Telecommunication System (pamphlet, English), Since October 2018 the More Time System supports transfers at nighttime on weekdays, weekends and holidays, realising 24/7 operations; available only for telegraphic transfers of less than 100 million yen per transaction; issued December 2019; More Time System started with 504 participating financial institutions (checked 8 Oct 2026)
16. Bank of Japan: Report on payments or receipts (支払又は支払の受領に関する報告書) forms and guidance, 3,000万円相当額以下は報告不要 (no report needed for amounts equivalent to 30 million yen or less); paper reports for transactions through banks go to the bank used (書面報告は取引を行った銀行等); online reports go to the Bank of Japan (checked 8 Oct 2026)
17. National Tax Agency Japan: Tax Answer No.2884, withholding on payments to non-residents and tax rates, Payers of Japan-source income to non-residents withhold income tax; personal services business consideration and royalties at 20.42 percent; tax treaty application forms are submitted through the payer before the payment date to obtain treaty relief (checked 8 Oct 2026)
18. Convention between Japan and India for the avoidance of double taxation (signed 7 March 1989, amended 2006 and 2015): synthesised text with the MLI, Ministry of Finance Japan, Article 7(1): business profits taxable only in the state of residence unless carried on through a permanent establishment; Article 12(2): source-state tax not to exceed 10 per cent of the gross amount of royalties or fees for technical services; Article 12(4): fees for technical services means payments for services of a managerial, technical or consultancy nature, excluding payments to employees and to any individual for independent personal services referred to in Article 14; Article 12(6): deemed to arise where the payer is a resident; Article 14(1): professional services taxable only in the residence state unless a fixed base or presence exceeding 183 days; Article 23(2)(a): India allows a deduction equal to the Japanese tax paid (checked 8 Oct 2026)
19. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
20. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
21. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
22. HDFC Bank: Remittance Services Fees & Charges, Inward Remittance Charge: No Charge; FIRC Charge for Inward Remittance & FCY Cheque Collection INR 200 per FIRC; GST slabs on amount of currency exchanged (checked 6 Oct 2026)
23. Kotak Everyday Savings Account fees and charges, Foreign Inward Remittance certificate (Branch Request) INR 100/Request; GST on Foreign Currency Conversion; fees exclusive of GST (checked 6 Oct 2026)
24. PayPal India Merchant Fees, Receiving international transactions; Currency Conversions (3.0% converting balance and payments received; 4.00% all other cases); Withdrawals Out of PayPal; Dispute Fees; Other Fees (Last Updated 28 March 2024) (checked 6 Oct 2026)
25. Airwallex Help: Eligible Countries and Territories, INDIA IN - AWX Legal Entity SINGAPORE (checked 7 Oct 2026)
26. Axis Bank: Inward Remittances (Business Banking) (checked 6 Oct 2026)