Stripe vs Razorpay (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 invoice size and how your clients pay. On a $5,000 invoice, Razorpay pays more at today's reference rate. Stripe is best for registered Indian businesses selling online to foreign customers who pay by card. Razorpay is best for Indian businesses and freelancers already using Razorpay who invoice foreign clients.
| Use case | Better option | Why |
|---|---|---|
| Invoices around $2,000 | Razorpay | Razorpay pays about ₹11,851 more (1.18% cost vs 7.43% for Stripe). |
| Invoices around $5,000 | Razorpay | Razorpay pays about ₹29,627 more (1.18% cost vs 7.43% for Stripe). |
| Invoices around $10,000 | Razorpay | Razorpay pays about ₹59,253 more (1.18% cost vs 7.43% for Stripe). |
| Need: registered Indian businesses selling online to foreign customers who pay by card | Stripe | Stripe is built for this. |
| Need: Indian businesses and freelancers already using Razorpay who invoice foreign clients | Razorpay | Razorpay is built for this. |
CurrencyUSD
At the mid-market rate
₹4,73,721
Highest payout: Razorpay
₹4,68,131
- 1.Razorpay₹4,68,131cost 1.18%
- 2.Stripe₹4,38,505cost 7.43%
1 USD = 94.74 INR, ECB reference rate for 4 Nov 2026. Payout = amount minus fees, converted at the reference rate minus each platform's markup, minus 18% GST on fees where charged. Platforms without published pricing are left out.
How do Stripe and Razorpay compare at a glance?
| Attribute | Stripe | Razorpay |
|---|---|---|
| Best for | Registered Indian businesses selling online to card-paying foreign customers | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Fees | 4.3% intl cards; 3% Visa/Mastercard, 3.5% Amex; + 2% if converted | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST |
| FX markup | 2% if converted; Stripe says rate is generally mid-market | States 0% markup on MoneySaver at live rate |
| Settlement | Daily INR payouts; card funds after five business days | States 1 day (T+1 after invoice shared) |
| FIRA | Standard Chartered payment advice; FIRC cost not confirmed | FIRS within 24 hours of settlement; no charge listed |
| Currencies | Cards in 135+ currencies; Amex INR or USD; INR payouts | Local USD, GBP, EUR accounts plus SWIFT; 30+ currencies stated |
| RBI status | Not confirmed | RBI authorised PA-CB inward and outward, plus PA-O |
| Indian individuals | No; international payments need a registered entity | Listed as business type; savings account not confirmed |
| Indian businesses | Yes, by invite, after opting in to exports | Yes, under listed export purpose codes |
| Limits | Up to INR 25 lakh per export transaction for sole proprietorships, LLPs and companies | Not confirmed |
How much INR do you receive on $2,000, $5,000 and $10,000 with Stripe vs Razorpay?
Each row applies the platform's published fee, FX markup and GST on the fee to the XE mid-market rate for 4 Nov 2026.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Stripe, $2,000 | ₹11,938 | ₹0 | ₹2,149 | ₹1,75,402 | 7.43% | Registered Indian businesses selling online to card-paying foreign customers |
| Stripe, $5,000 | ₹29,844 | ₹0 | ₹5,372 | ₹4,38,505 | 7.43% | Registered Indian businesses selling online to card-paying foreign customers |
| Stripe, $10,000 | ₹59,689 | ₹0 | ₹10,744 | ₹8,77,009 | 7.43% | Registered Indian businesses selling online to card-paying foreign customers |
| Razorpay, $2,000 | ₹1,895 | ₹0 | ₹341 | ₹1,87,252 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $5,000 | ₹4,737 | ₹0 | ₹853 | ₹4,68,131 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $10,000 | ₹9,474 | ₹0 | ₹1,705 | ₹9,36,262 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
What is Stripe and who is it for?
Stripe is a global online payments platform. In India it is available by invite only, and registered Indian businesses can use it to accept international card payments declared as exports, with funds paid out in INR to an Indian bank account. Its India help pages list cards, Apple Pay and Google Pay for international payments and do not describe receiving bank transfers from foreign clients.
- Regulated by: Not confirmed
- Used by: Sole proprietorships, LLPs and companies in India can accept international card payments after opting in to exports, by invite only. An IEC is required for physical goods and for Amex international payments; optional for services otherwise.
- Best for: Registered Indian businesses selling online to foreign customers who pay by card
What is Razorpay and who is it for?
Razorpay is an Indian payment gateway that also offers the MoneySaver Export Account (International Bank Transfer). Indian exporters and freelancers get virtual local bank details in the US, UK, Europe and other regions plus a SWIFT account, share them with foreign clients, and receive INR in their Indian bank account. Settlement needs an invoice and buyer address details for each transaction, except for some marketplace and freelancing platform payouts.
- Regulated by: RBI authorised Payment Aggregator, PA-O (19.12.2023) and PA-CB Inward & Outward (Razorpay Payments Private Limited, RBI list of authorised payment system operators)
- Used by: Yes, Indian sole proprietorships, partnerships, private and public limited companies and LLPs that fall under the listed export purpose codes
- Best for: Indian businesses and freelancers already using Razorpay who invoice foreign clients
How do Stripe and Razorpay fees and FX markup compare?
What does Stripe charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: International card payment (Visa/Mastercard) with USD or other foreign currency presentment | 4.3% + 2% if currency conversion is required | – | Registered Indian businesses selling online to card-paying foreign customers |
| Receiving: International Visa/Mastercard card payment charged in INR | 3% (published as 3% for Mastercard and Visa cards issued outside India + 2% if currency conversion is required) | Stripe's cross-border pricing article lists 3% for INR presentment, with any conversion fee charged to the customer by their issuing bank. | Registered Indian businesses selling online to card-paying foreign customers |
| Receiving: International American Express card payment | 3.5% + 2% if currency conversion is required | American Express presentment is INR or USD. | Registered Indian businesses selling online to card-paying foreign customers |
| Receiving: Bank transfer (ACH, SEPA, SWIFT) from a foreign client | Not confirmed | Stripe's India help pages list cards, Apple Pay and Google Pay for international payments and state local payment methods are not supported; receiving bank transfers was not found. | Registered Indian businesses selling online to card-paying foreign customers |
| Currency conversion to INR | 2% currency conversion fee if conversion is required, on top of a rate Stripe says is generally the third-party-sourced mid-market rate; in certain circumstances Stripe may use the rate at which it sources the currency | When foreign currency is converted | Registered Indian businesses selling online to card-paying foreign customers |
| Payout to an Indian bank | Stripe pays out in INR to the business's Indian bank account on a daily automatic schedule; funds from international card payments are included five business days after processing, and the first payout has a seven day waiting period. No payout fee is listed on the India pricing page; a zero payout fee is not explicitly stated. | When INR is sent to your account | Registered Indian businesses selling online to card-paying foreign customers |
| Dispute received | INR 1,000 per dispute | – | Registered Indian businesses selling online to card-paying foreign customers |
| Dispute countered | INR 1,000 per dispute, refunded if won | – | Registered Indian businesses selling online to card-paying foreign customers |
| Billing | 0.7% of billing volume | – | Registered Indian businesses selling online to card-paying foreign customers |
| Invoicing | 0.4% per paid invoice | – | Registered Indian businesses selling online to card-paying foreign customers |
| Setup or monthly fee | None on standard pricing | – | Registered Indian businesses selling online to card-paying foreign customers |
| GST on fees | Stripe's monthly tax invoice adds GST on its fees: a single 18% IGST line or 9% CGST plus 9% SGST, depending on the state. GST is not charged on Stripe processing fees for any single card transaction up to INR 2,000. Stripe also pays an additional 2% of the monthly invoice amount if a valid TAN is provided on the Dashboard. | Applies to the platform's fee | Registered Indian businesses selling online to card-paying foreign customers |
What does Razorpay charge?
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: US ACH to virtual USD account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: UK FPS to virtual GBP account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: SEPA to virtual EUR account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: SWIFT to virtual SWIFT account | 1% (flat INR 1,000 below INR 1,00,000) plus GST | Razorpay's pricing page groups SWIFT with ACH, SEPA and FPS bank transfers at 1%; intermediary or correspondent bank charges: Not confirmed | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: FlashLinks (US) ACH debit payment link | 2% plus GST | Settlement in 5 days | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Receiving: International cards and wallets | Up to 3% plus taxes | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Currency conversion to INR | 0% FX markup on MoneySaver bank transfers; Razorpay states it converts at the live exchange rate | When foreign currency is converted | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Payout to an Indian bank | Razorpay converts at the live exchange rate with 0% markup and settles INR to the user's Indian current account (non-INR settlement to an EEFC account is also supported), T+1 after the invoice and buyer details are shared; Razorpay deducts its charges (1%, or INR 1,000 flat below INR 1,00,000, plus GST) before settlement. | When INR is sent to your account | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| One-time setup fee | INR 0 | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Annual maintenance fee | INR 0 | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Enterprise Plan | Custom pricing on request | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Refunds on bank transfers | Not supported | – | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| GST on fees | The MoneySaver pricing page states 'GST applicable' on the Razorpay fee without giving a rate; Razorpay's pricing page lists 18% GST for its domestic payment gateway service and 'taxes' on international card payments. | Applies to the platform's fee | Indian businesses and freelancers on Razorpay invoicing foreign clients |
How do Stripe and Razorpay compare on settlement speed?
- Stripe: Daily automatic payouts in INR include international card payments processed five business days prior
- Razorpay: Bank transfers: 'Settlement in 1 day' per the pricing page; docs state T+1 from the time the invoice or invoice details are shared against a payment. FlashLinks (US): settlement in 5 days
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Stripe | Daily INR payouts; card funds after five business days | Daily INR payouts to Indian bank; no payout fee listed | Registered Indian businesses selling online to card-paying foreign customers |
| Razorpay | States 1 day (T+1 after invoice shared) | INR to Indian current account T+1, 0% markup, fee deducted | Indian businesses and freelancers on Razorpay invoicing foreign clients |
Do Stripe and Razorpay provide FIRA and e-BRC, and are they RBI PA-CB authorised?
| Platform | FIRA and e-BRC | RBI status | Checked | Best for |
|---|---|---|---|---|
| Stripe | Standard Chartered payment advice; FIRC cost not confirmed | Not confirmed | 30 Sept 2026 | Registered Indian businesses selling online to card-paying foreign customers |
| Razorpay | FIRS within 24 hours of settlement; no charge listed | RBI authorised PA-CB inward and outward, plus PA-O | 30 Sept 2026 | Indian businesses and freelancers on Razorpay invoicing foreign clients |
Which currencies, countries and payment methods do Stripe and Razorpay support?
| Platform | Currencies | Payment methods | Indian individuals | Indian businesses | Best for |
|---|---|---|---|---|---|
| Stripe | Cards in 135+ currencies; Amex INR or USD; INR payouts | International card payment (Visa/Mastercard) with USD or other foreign currency presentment; International Visa/Mastercard card payment charged in INR; International American Express card payment; Bank transfer (ACH, SEPA, SWIFT) from a foreign client | No; international payments need a registered entity | Yes, by invite, after opting in to exports | Registered Indian businesses selling online to card-paying foreign customers |
| Razorpay | Local USD, GBP, EUR accounts plus SWIFT; 30+ currencies stated | US ACH to virtual USD account; UK FPS to virtual GBP account; SEPA to virtual EUR account; SWIFT to virtual SWIFT account; FlashLinks (US) ACH debit payment link; International cards and wallets | Listed as business type; savings account not confirmed | Yes, under listed export purpose codes | Indian businesses and freelancers on Razorpay invoicing foreign clients |
What are the strengths and limitations of Stripe and Razorpay?
Stripe
- Checkout and API: Developer tools for websites, subscriptions and invoices
- Currency presentment: Customers can pay in their local currency on Visa and Mastercard
- Export documentation: Purpose code captured at onboarding and payment advice emailed for export payouts
- No fixed fees: No setup or monthly fees on standard pricing
- Invite only: Indian businesses cannot sign up on the website and must request an invite
- No individuals: International payments are not supported for individuals; a sole proprietorship, LLP or company is required
- Cards and wallets only: Bank transfers (ACH, SEPA, SWIFT) from foreign clients are not listed as a supported method for India accounts
- Cost: 4.3% on foreign currency card payments plus 2% if currency conversion is required, with 18% GST on fees (7.434% in total), except that GST is not charged on processing fees for single card transactions up to INR 2,000
Razorpay
- FX: 0% markup on bank transfers, as stated on the pricing page
- Speed: T+1 settlement for local bank transfers once invoice details are shared
- Compliance: FIRS sent within 24 hours of settlement
- Regulation: listed by RBI as an authorised PA-CB for inward and outward transactions
- Small payments: flat INR 1,000 fee on transactions below INR 1,00,000, which is more than 1% on smaller invoices
- Paperwork: an invoice and buyer address are required for every transaction before settlement (except some marketplace payouts)
- No holding: funds cannot be kept in the foreign currency accounts
- Eligibility: limited to listed export purpose codes and excludes certain merchant categories and NGOs
Should you choose Stripe or Razorpay?
- Choose Stripe if: you need registered Indian businesses selling online to foreign customers who pay by card.
- Choose Razorpay if: you need Indian businesses and freelancers already using Razorpay who invoice foreign clients, or your invoices are around $2,000 or $5,000 or $10,000.
For example, an exporter billing $5,000 a month: Razorpay pays about ₹29,627 more (1.18% cost vs 7.43% for Stripe).
Which other platforms should you consider besides Stripe and Razorpay?
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 | ₹4,70,479 | Indian freelancers and exporters receiving mid to large B2B invoices |
| 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 | ₹4,65,113 | 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 | ₹4,64,734 | Existing HDFC customers wanting free SWIFT receipts or EEFC accounts |
| Wise Business | Calculator: 1.6% + $2 per payment + 18% GST | Mid-market rate; cost is the 1.6% conversion fee | eFIRC per transfer, 2 USD + 18% GST | ₹4,64,726 | Freelancers and small exporters wanting multi-currency local accounts and eFIRC |
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 4 Nov 2026. The formula is on the methodology page.
- 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)
- Accept international payments from India (Stripe docs), Stripe is available by invite only in India; the Stripe account must be a registered Indian business (sole proprietorship, limited liability partnership, or company) and can't be an individual; Stripe pays out to you in INR (checked 7 Oct 2026)
- Additional pricing information for Indian cross-border sellers, Mainly international: 4.3% per successful charge; currency conversion additional 2% if required (checked 7 Oct 2026)
- How can I open a Stripe account in India (checked 6 Oct 2026)
- Supported payment methods, currencies and businesses for Stripe accounts in India (checked 6 Oct 2026)
- FIRC for international transactions in India (checked 6 Oct 2026)
- Payout schedule for Stripe accounts in India (checked 6 Oct 2026)
- Payout currency for Stripe accounts in India (checked 6 Oct 2026)
- GST and TDS on Stripe invoices for India-based accounts (checked 6 Oct 2026)
- Export transaction limits for Stripe accounts in India (checked 6 Oct 2026)
- RBI regulations: context and FAQs (checked 6 Oct 2026)
- Localise prices: exchange rate (Stripe docs), When Stripe provides currency conversion services for transactions, we generally apply the mid-market rate based on pricing data sourced from third-party service providers. Mid-market rate is the average between the buy and the sell price of a currency. In certain circumstances, Stripe might apply the rate at which we source the currency owed to you. (checked 7 Oct 2026)
- Taxes on Stripe fees for India-based businesses, either a single 18% tax line item (IGST) or a sum of two 9% tax line items (CGST & SGST). GST is not charged on Stripe processing fees for any single Cards transaction with a value up to INR 2,000. (checked 7 Oct 2026)
- Stripe Docs: Supported currencies (India selected), Stripe users in the selected country can process charges in the following list of currencies, with these exceptions: Domestic charges can only be in INR; You can charge American Express cards issued outside of India only in INR and USD (checked 8 Oct 2026)
- 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)
- Razorpay pricing, International cards and wallets up to 3% plus taxes; MoneySaver bank transfers (SWIFT, ACH, SEPA, FPS) 1% with zero forex markup; 'RBI PA-CB licensed'; 18% GST listed for the payment gateway service (checked 6 Oct 2026)
- Razorpay Docs: International Bank Transfer (MoneySaver Export Account), Supported methods and SWIFT currency list, purpose codes, onboarding KYC, invoices not required for Amazon, Upwork and Freelancer transactions, FAQs on T+1 settlement, EEFC settlement, FIRS within 24 hours, no holding of funds, no refunds, 'Free FIRC' in savings example (checked 6 Oct 2026)
- Razorpay Docs: FIRS Automated Process (checked 6 Oct 2026)
- Razorpay Docs: International Payments FAQs, NGOs not supported for international payments (checked 6 Oct 2026)
- RBI: Authorised payment system operators, Entry 54: Razorpay Payments Private Limited (formerly Razorpay Software Private Limited), PA-O 'Razorpay' 19.12.2023, PA-P, PA-CB I & O (checked 6 Oct 2026)
FAQs about Stripe vs Razorpay
Is Stripe or Razorpay cheaper for receiving USD in India?
Razorpay pays about ₹29,627 more (1.18% cost vs 7.43% for Stripe). At $2,000: Razorpay pays about ₹11,851 more (1.18% cost vs 7.43% for Stripe). At $10,000: Razorpay pays about ₹59,253 more (1.18% cost vs 7.43% for Stripe). Figures use each platform's published pricing and today's reference rate, so check both pricing pages before you decide.
Which is faster, Stripe or Razorpay?
Stripe states: Daily automatic payouts in INR include international card payments processed five business days prior. Razorpay states: Bank transfers: 'Settlement in 1 day' per the pricing page; docs state T+1 from the time the invoice or invoice details are shared against a payment. FlashLinks (US): settlement in 5 days.
Do Stripe and Razorpay both provide a FIRA?
Stripe: Payment advice emailed by Standard Chartered Bank on the day each export payout is processed; Stripe says it can be used to obtain a FIRC. Cost of FIRC not confirmed. Razorpay: FIRS (foreign inward remittance statement / e-FIRC) sent within 24 hours of settlement and downloadable from the Dashboard; no separate charge listed.
Are Stripe and Razorpay authorised by RBI?
Stripe: Not confirmed. Razorpay: RBI authorised Payment Aggregator, PA-O (19.12.2023) and PA-CB Inward & Outward (Razorpay Payments Private Limited, RBI list of authorised payment system operators). RBI publishes the list of authorised cross-border payment aggregators, so check the current list before relying on any platform's own statement about its status.
Can Indian freelancers use both Stripe and Razorpay?
Stripe, individuals: Individuals can only accept domestic payments. Stripe states it cannot support international transactions for individuals, so freelancers need a sole proprietorship or other registered entity, and access is by invite only. Check the platform's own pricing page before relying on these figures.
Should I switch from Stripe to Razorpay?
Switch only if Razorpay pays more on your usual invoice size or fits how your clients pay. Keep the Stripe 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.