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Adyen vs Revolut (2026): Which Is Better for Receiving International Payments in India?

Author:
Editorial team, serviceexportguide.com
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10 min read

Short answer

Neither Adyen nor Revolut publishes enough pricing to estimate the cost of a USD 5,000 receipt, so there is no cost verdict. The better choice depends on how your client pays: Adyen is best for large businesses with an Indian entity, and Revolut is best for personal spending, not export receipts.1234

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareNeither publishes full pricing for this case.
Bank transfer of USD 2,000Cannot compareNeither publishes full pricing for this case.
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
Adyen is best forAdyenLarge businesses with an Indian entity.12
Revolut is best forRevolutPersonal spending, not export receipts.34

1,000 USD = ₹94,243 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#Provider and routeBest forFee (+GST)MarkupYou receiveCost
1Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹942plus GST, rate not stated0%₹93,131 to ₹93,3011.00 to 1.18%
2RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,000plus GST, rate not stated0%₹93,063 to ₹93,2431.06 to 1.25%
3WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,4350%₹92,8091.52%
4SkydoPayment link (InstaLinks) paid by ACH debitLocal bank transfers from major markets₹1,885plus GST, rate not stated0%₹92,019 to ₹92,3582.00 to 2.36%
5PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹90,473 to ₹93,3011.00 to 4.00%
6PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹4,175no GST stated3 to 4%₹86,465 to ₹87,3667.30 to 8.25%

Not estimated because pricing is not fully published: Cashfree Payments, Dodo Payments, PingPong, Stripe, Tazapay, TransFi, Wise.

Where a provider says GST applies to its fee but not at what rate, the range runs from no GST to 18%, the rate Skydo, Stripe and Winvesta state on their pages. Estimates use each provider's published fee, conversion markup, GST on fees and FIRA charge, checked 2026-10-28, against the reference rate. They exclude charges taken by intermediary banks and your own bank, and the rate a provider actually applies at the time of conversion. Check the provider's pricing page before you choose. The order is calculated only from these published numbers; no provider can pay to change its position, and there are no affiliate links.

How do Adyen and Revolut compare at a glance?

Adyen and Revolut compare on the twelve points below, using each provider's published information as checked on 28 October 2026. Where a provider does not publish something, the table says so.305

AdyenRevolut
Best forLarge businesses with an Indian entity12Personal spending, not export receipts34
FeesNot published for Indian exporters. Adyen's global pricing page shows indicative fees: $0.13 per transaction plus Interchange++ plus 0.60% for Visa and Mastercard, and $0.13 plus 3.95% for American Express.Revolut says it does not charge fees for receiving a bank transfer into the INR account by UPI.5
FX markupNot published.Not applicable to receiving: the India wallet holds INR only. No inward conversion rate is published.3
SettlementNot published.Revolut says UPI transfers to the INR account are usually instant.5
FIRANot published.Not published. Revolut's India pages do not mention a FIRA or FIRC.
CurrenciesNot published for Indian exporters.INR only for the India wallet. Revolut's India terms say PPIs can only be used for payments in Indian rupees.35
KYC: who can sign upAdyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.62Individuals, for personal use. Revolut's India terms say you cannot use a Revolut Account for business purposes. Revolut Business requires a company registered in the UK, the EEA or the US; India is listed only as a country where an applicant for such a company may reside.37
RBI PA-CB statusThe RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.869Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.103
SupportNot published for this use; Adyen's pricing page directs custom pricing and minimum invoice questions to its sales team.Revolut India publishes 24/7 in-app chat, support-india@revolut.com and a phone number.3
LimitsFor its cross-border import product, Adyen restricts foreign merchants from selling goods or services priced above ₹25,00,000 per transaction. No limit is published for Indian exporters.9Up to 25 inbound UPI transfers or INR 4,00,000 a day, whichever comes first, and a total INR balance of no more than INR 2,00,000 at any time.5
How clients payNot published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.Revolut India says money can be received into the INR account by UPI only; NEFT, IMPS and RTGS are not supported. No route for a foreign client to pay a Revolut India account from abroad is published.53
Card paymentsNot published for foreign customers paying Indian businesses. Adyen's India compliance guide says its India rules apply to local acquiring and do not apply to cross-border payments.Not available for receiving. Revolut India does not publish a way to accept card payments from clients.35

How much INR do you receive on $2,000, $5,000 and $10,000 with Adyen vs Revolut?

The INR you receive with Adyen and Revolut is the invoice at the reference rate, less each provider's fee, conversion markup, GST on fees and FIRA charge. The table works this out from published pricing at today's rate.

None of these providers publishes both a fee and a conversion markup for USD.

Ranked by INR received on USD 5,000. Reference rate: European Central Bank data for 13 November 2026. Fees, conversion markup, GST on fees and FIRA charges as published by each provider, checked 28 October 2026. Ranges appear where a provider publishes a range or does not state its GST rate. Intermediary bank charges are excluded. See the methodology.

What is Adyen and who is it for?

Adyen is a payments platform for enterprises; in India it is authorised by the RBI as an online payment aggregator and as a cross-border aggregator for outward (import) transactions, and it publishes no product for Indian exporters collecting from foreign customers.689

  • Regulated by: The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.869
  • Used by: Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.62
  • Best for: Large businesses with an Indian entity.12

What is Revolut and who is it for?

Revolut in India is a personal app run by Revolut Payments India Private Limited, an RBI-authorised prepaid payment instrument issuer whose INR wallet cannot be used for business purposes.310

  • Regulated by: Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.103
  • Used by: Individuals, for personal use. Revolut's India terms say you cannot use a Revolut Account for business purposes. Revolut Business requires a company registered in the UK, the EEA or the US; India is listed only as a country where an applicant for such a company may reside.37
  • Best for: Personal spending, not export receipts.34

How do Adyen and Revolut fees and FX markup compare?

Adyen and Revolut charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Adyen charge?

  • Fees: Not published for Indian exporters. Adyen's global pricing page shows indicative fees: $0.13 per transaction plus Interchange++ plus 0.60% for Visa and Mastercard, and $0.13 plus 3.95% for American Express.30

What does Revolut charge?

  • Fees: Revolut says it does not charge fees for receiving a bank transfer into the INR account by UPI.5

How do Adyen and Revolut compare on settlement speed?

Adyen and Revolut publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
AdyenNot published.Not published.Large businesses with an Indian entity12
RevolutRevolut says UPI transfers to the INR account are usually instant.5Revolut says unloading the INR wallet is free on the Standard plan.4Personal spending, not export receipts34

Do Adyen and Revolut provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Adyen and Revolut publish the FIRA position and RBI status below, checked on 28 October 2026. An e-BRC is generated by the exporter on the DGFT portal from bank remittance data, so it does not depend on the provider issuing one.31

PlatformFIRARBI PA-CB statusBest for
AdyenNot published.The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.869Large businesses with an Indian entity12
RevolutNot published. Revolut's India pages do not mention a FIRA or FIRC.Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.103Personal spending, not export receipts34

Which currencies, countries and payment methods do Adyen and Revolut support?

Adyen and Revolut accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
AdyenNot published for Indian exporters.Not published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.Not published for foreign customers paying Indian businesses. Adyen's India compliance guide says its India rules apply to local acquiring and do not apply to cross-border payments.Large businesses with an Indian entity12
RevolutINR only for the India wallet. Revolut's India terms say PPIs can only be used for payments in Indian rupees.35Revolut India says money can be received into the INR account by UPI only; NEFT, IMPS and RTGS are not supported. No route for a foreign client to pay a Revolut India account from abroad is published.53Not available for receiving. Revolut India does not publish a way to accept card payments from clients.35Personal spending, not export receipts34

What are the strengths and limitations of Adyen and Revolut?

Adyen and Revolut each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Adyen?

Strengths:

  • You are a large business with an Indian entity that needs domestic card, UPI and online banking acceptance in India on one platform.12
  • You are a foreign merchant selling to Indian buyers through Adyen's cross-border import product.9

Limitations:

  • Adyen's RBI cross-border authorisation is for outward (import) transactions, not inward export receipts.89
  • Adyen publishes no product, fee, FIRA or purpose code process for Indian service exporters collecting from foreign customers.6302
  • Pricing shown is global and indicative, and a minimum invoice may apply depending on industry or business model.30
  • Adyen positions itself for enterprises; eligibility for freelancers or small agencies is not published.6

What are the strengths and limitations of Revolut?

Strengths:

  • You want a personal INR wallet and card for your own spending, separate from how you get paid for exports.34

Limitations:

  • Revolut's India terms prohibit using a Revolut Account for business purposes.3
  • The India wallet holds INR only and receives money by UPI only, so a foreign client cannot pay into it from abroad by any published route.35
  • Revolut Business is not available to companies registered in India.7
  • Revolut India is not an RBI-authorised PA-CB and its pages do not mention a FIRA, FIRC or purpose code.103

Should you choose Adyen or Revolut?

Choose between Adyen and Revolut by how your clients pay and your usual invoice size.

Choose Adyen if:

  • You are a large business with an Indian entity that needs domestic card, UPI and online banking acceptance in India on one platform.12
  • You are a foreign merchant selling to Indian buyers through Adyen's cross-border import product.9

Choose Revolut if:

  • You want a personal INR wallet and card for your own spending, separate from how you get paid for exports.34

For example, say a designer invoices a US client USD 2,000. Because neither provider does not publish full pricing for that case, ask for a quote in writing and compare it with the FIRA rate after the first payment.303

Which other platforms should you consider besides Adyen and Revolut?

Other platforms to consider besides Adyen and Revolut are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.1213141516171920222325272829

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets110.68%121314151617Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.1618Skydo review
Karbon BusinessUS bank transfers and marketplace payouts191.00 to 1.18%1920Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.19Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone211.00 to 1.18%2223Razorpay provides a Foreign Inward Remittance Statement (FIRS), sent to the contact email within 24 hours after settlement for bank transfers, and downloadable from the dashboard, which shows bank-provided certificates and Razorpay-generated statements. The pricing page lists FIRC or eFIRC as included and auto-generated for international cards. No separate charge is published.212423Razorpay review
WinvestaLocal transfers with a published per-payment fee25261.24%25272829Free e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.2827Winvesta review

Compare every provider on your own invoice in the platform cost comparison.

How did we verify this?

We checked this page against the sources below on 28 October 2026. Provider fees, conversion markups and RBI payment aggregator (PA-CB) status were checked on 28 October 2026. Rupee amounts use European Central Bank reference rates for 13 November 2026. Read our methodology or report an error.

  1. [1]Adyen press release, Adyen expands to India, 15 August 2024 (checked 2026-10-28)
  2. [2]Adyen Docs, Payments India compliance guide (checked 2026-10-28)
  3. [3]Revolut India, Personal terms, effective 19 November 2025, sections 1, 2, 4 and 20 (checked 2026-10-28)
  4. [4]Revolut India, Personal fees (Standard), from the week of 24 November 2025 (checked 2026-10-28)
  5. [5]Revolut India Help, How to transfer funds to Revolut (checked 2026-10-28)
  6. [6]Adyen India, home page (checked 2026-10-28)
  7. [7]Revolut Business Help, Eligible countries and territories for Revolut Business (checked 2026-10-28)
  8. [8]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), list dated 16 October 2026 (checked 2026-10-28)
  9. [9]Adyen, India merchant onboarding policy overview, version 1.5, 9 June 2026 (checked 2026-10-28)
  10. [10]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  11. [11]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  12. [12]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  13. [13]Skydo, Home page (checked 2026-10-28)
  14. [14]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  15. [15]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  16. [16]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  17. [17]Skydo, Terms of use (checked 2026-10-28)
  18. [18]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  19. [19]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  20. [20]Karbon, PayPal alternative (checked 2026-10-28)
  21. [21]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  22. [22]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  23. [23]Razorpay, Pricing (checked 2026-10-28)
  24. [24]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  25. [25]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  26. [26]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  27. [27]Winvesta, Multi-currency account (checked 2026-10-28)
  28. [28]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  29. [29]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  30. [30]Adyen, Pricing (global page, checked 2026-10-28)
  31. [31]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  32. [32]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Adyen or Revolut?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.303 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Adyen and Revolut give a FIRA to Indian exporters?+

Adyen: Not published. Revolut: Not published. Revolut's India pages do not mention a FIRA or FIRC.

Can individual freelancers use Adyen and Revolut?+

Adyen: Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.62 Revolut: Individuals, for personal use. Revolut's India terms say you cannot use a Revolut Account for business purposes. Revolut Business requires a company registered in the UK, the EEA or the US; India is listed only as a country where an applicant for such a company may reside.37

Are Adyen and Revolut authorised by the RBI?+

Adyen: The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.869 Revolut: Revolut Payments India Private Limited is listed by the RBI as a prepaid payment instrument (PPI) issuer, authorised on 4 April 2025. It does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026.103

How fast do Adyen and Revolut pay out to an Indian bank?+

Adyen: Not published.30 Revolut: Revolut says UPI transfers to the INR account are usually instant.5

Do I still need an LUT if I am paid through Adyen or Revolut?+

Yes, if you are registered under GST and want to invoice the export without IGST. The Letter of Undertaking is a GST filing for the financial year, and it does not depend on how the money reaches you, whether through Adyen, Revolut or a bank wire.32

This page is general information for Indian service exporters, not tax or legal advice. Rules change and outcomes depend on your facts, so confirm with a chartered accountant before acting.

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