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

Q: How fast do Adyen and TransFi pay out to an Indian bank?

Adyen: Not published. TransFi: TransFi says collections on the USA to India route settle within minutes to a few hours where instant rails are available; its help centre says BizPay transfers are processed as per the bank settlement cycle.

Author:: Editorial team, serviceexportguide.com
Verified by:: Editorial team
Published: 28 October 2026
Last modified: 28 October 2026
Fees checked on: 28 October 2026
Reading time: 10 min read

Short answer

Neither Adyen nor TransFi 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 TransFi is best for payment links shared in chat, including stablecoins.¹²³⁴

Use case	Better option	Why
Bank transfer of USD 5,000	Cannot compare	Neither publishes full pricing for this case.
Bank transfer of USD 2,000	Cannot compare	Neither publishes full pricing for this case.
Client paying USD 2,000 by card or link	Cannot compare	Neither publishes full pricing for this case.
Adyen is best for	Adyen	Large businesses with an Indian entity.¹²
TransFi is best for	TransFi	Payment links shared in chat, including stablecoins.³⁴

Invoice amountCurrencyHow the client pays

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 route	Best for	Fee (+GST)	Markup	You receive	Cost
1	Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD account	US bank transfers and marketplace payouts	₹942plus GST, rate not stated	0%	₹93,131 to ₹93,301	1.00 to 1.18%
2	RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)	Local transfers from the US, UK and eurozone	₹1,000plus GST, rate not stated	0%	₹93,063 to ₹93,243	1.06 to 1.25%
3	WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)	Local transfers with a published per-payment fee	₹1,435	0%	₹92,809	1.52%
4	SkydoPayment link (InstaLinks) paid by ACH debit	Local bank transfers from major markets	₹1,885plus GST, rate not stated	0%	₹92,019 to ₹92,358	2.00 to 2.36%
5	PayoneerLocal bank transfer to Payoneer receiving account details	Marketplace payouts such as Amazon or Upwork	₹0no GST stated	1 to 4%	₹90,473 to ₹93,301	1.00 to 4.00%
6	PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹4,175no GST stated	3 to 4%	₹86,465 to ₹87,366	7.30 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 TransFi compare at a glance?

Adyen and TransFi 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.³⁴⁶³¹³

	Adyen	TransFi
Best for	Large businesses with an Indian entity¹²	Payment links shared in chat, including stablecoins³⁴
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.	Not published as a schedule. TransFi says fees vary by payment method, origin country and transaction size and are shown before you confirm; the BizPay page says fees start from as low as 0.15% without saying what that covers.
FX markup	Not published.	TransFi says pricing on its USA to India route is benchmarked to the mid-market rate and that the rate is shown before you accept. No markup percentage is published.⁵⁶
Settlement	Not published.	TransFi says collections on the USA to India route settle within minutes to a few hours where instant rails are available; its help centre says BizPay transfers are processed as per the bank settlement cycle.⁵⁷
FIRA	Not published.	Not published. TransFi's pages do not mention a FIRA or FIRC.
Currencies	Not published for Indian exporters.	TransFi says BizPay collects in currencies such as USD, EUR, GBP, AUD and AED, and that it supports 40+ currencies overall.³⁶
KYC: who can sign up	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.⁸²	TransFi says BizPay can be used by businesses and individuals, including freelancers and sole proprietors without a registered company. It does not publish whether Indian residents are eligible.³⁹
RBI PA-CB status	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.¹⁰⁸¹¹	TransFi does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its terms list Trans-Fi India Private Limited as an affiliate but name no Indian licence, regulator or partner bank.¹²¹³
Support	Not published for this use; Adyen's pricing page directs custom pricing and minimum invoice questions to its sales team.	TransFi publishes a help centre and a contact form. No India-specific support channel is published.¹⁴
Limits	For 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.¹¹	Not published.
How clients pay	Not published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.	TransFi says payers can use local bank details in supported currencies, SWIFT, bank transfers, digital wallets, real-time payment systems, payment links and QR codes; BizPay requests are paid through a payment link.⁶³
Card payments	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.	TransFi says BizPay supports 250+ payment methods including cards. No card fee is published.³

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

The INR you receive with Adyen and TransFi 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.

Not estimated because pricing for USD is not fully published: TransFi.

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.⁸¹⁰¹¹

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.¹⁰⁸¹¹
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.⁸²
Best for: Large businesses with an Indian entity.¹²

What is TransFi and who is it for?

TransFi describes itself as a stablecoin payments company offering collections, payouts and a chat-based product called BizPay that it says businesses and individuals can use to collect and send cross-border payments.¹⁴³⁹

Regulated by: TransFi does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its terms list Trans-Fi India Private Limited as an affiliate but name no Indian licence, regulator or partner bank.¹²¹³
Used by: TransFi says BizPay can be used by businesses and individuals, including freelancers and sole proprietors without a registered company. It does not publish whether Indian residents are eligible.³⁹
Best for: Payment links shared in chat, including stablecoins.³⁴

How do Adyen and TransFi fees and FX markup compare?

Adyen and TransFi 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.³⁴

What does TransFi charge?

Transaction type	Fee	FX markup	GST on fees	Best for
BizPay payment link or collection, settled in INR	Not published³⁵	0%	Not stated	Clients paying through a payment link

How do Adyen and TransFi compare on settlement speed?

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

Platform	Settlement time	Payout to India	Best for
Adyen	Not published.	Not published.	Large businesses with an Indian entity¹²
TransFi	TransFi says collections on the USA to India route settle within minutes to a few hours where instant rails are available; its help centre says BizPay transfers are processed as per the bank settlement cycle.⁵⁷	TransFi's USA to India page lists bank transfer, wallets and instant rails, with INR as the settlement currency. No payout fee is published.⁵	Payment links shared in chat, including stablecoins³⁴

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

Adyen and TransFi 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.³⁵

Platform	FIRA	RBI PA-CB status	Best for
Adyen	Not 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.¹⁰⁸¹¹	Large businesses with an Indian entity¹²
TransFi	Not published. TransFi's pages do not mention a FIRA or FIRC.	TransFi does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its terms list Trans-Fi India Private Limited as an affiliate but name no Indian licence, regulator or partner bank.¹²¹³	Payment links shared in chat, including stablecoins³⁴

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

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

Platform	Currencies	How clients pay	Card payments	Best for
Adyen	Not 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
TransFi	TransFi says BizPay collects in currencies such as USD, EUR, GBP, AUD and AED, and that it supports 40+ currencies overall.³⁶	TransFi says payers can use local bank details in supported currencies, SWIFT, bank transfers, digital wallets, real-time payment systems, payment links and QR codes; BizPay requests are paid through a payment link.⁶³	TransFi says BizPay supports 250+ payment methods including cards. No card fee is published.³	Payment links shared in chat, including stablecoins³⁴

What are the strengths and limitations of Adyen and TransFi?

Adyen and TransFi 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.¹¹

Limitations:

Adyen's RBI cross-border authorisation is for outward (import) transactions, not inward export receipts.¹⁰¹¹
Adyen publishes no product, fee, FIRA or purpose code process for Indian service exporters collecting from foreign customers.⁸³⁴²
Pricing shown is global and indicative, and a minimum invoice may apply depending on industry or business model.³⁴
Adyen positions itself for enterprises; eligibility for freelancers or small agencies is not published.⁸

What are the strengths and limitations of TransFi?

Strengths:

Your client wants to pay through a payment link sent from a WhatsApp or Telegram chat.³⁴
Your client or you want to move money using stablecoins as well as fiat, which TransFi says BizPay supports.³¹⁴

Limitations:

TransFi is not on the RBI list of authorised PA-CB entities as on 16 October 2026, and its pages do not explain its regulatory set-up for Indian exporters.¹²¹³
No fee schedule, FX markup or limits are published for receiving into India.⁶⁵³
TransFi's pages do not mention a FIRA, FIRC or purpose code, which Indian exporters use for GST and bank records.⁵³

Should you choose Adyen or TransFi?

Choose between Adyen and TransFi 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.¹¹

Choose TransFi if:

Your client wants to pay through a payment link sent from a WhatsApp or Telegram chat.³⁴
Your client or you want to move money using stablecoins as well as fiat, which TransFi says BizPay supports.³¹⁴

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.³⁴⁵⁶

Which other platforms should you consider besides Adyen and TransFi?

Other platforms to consider besides Adyen and TransFi are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.¹⁶¹⁷¹⁸¹⁹²⁰²¹²³²⁴²⁶²⁷²⁹³¹³²³³

Platform	Best for	Estimated cost on USD 5,000	FIRA	Review
Skydo	Local bank transfers from major markets¹⁵	0.68%¹⁶¹⁷¹⁸¹⁹²⁰²¹	Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.²⁰²²	Skydo review
Karbon Business	US bank transfers and marketplace payouts²³	1.00 to 1.18%²³²⁴	Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.²³	Karbon Business review
Razorpay	Local transfers from the US, UK and eurozone²⁵	1.00 to 1.18%²⁶²⁷	Razorpay 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.²⁵²⁸²⁷	Razorpay review
Winvesta	Local transfers with a published per-payment fee²⁹³⁰	1.24%²⁹³¹³²³³	Free 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.³²³¹	Winvesta 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.

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.³⁴⁵⁶ 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 TransFi give a FIRA to Indian exporters?+

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

Can individual freelancers use Adyen and TransFi?+

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.⁸² TransFi: TransFi says BizPay can be used by businesses and individuals, including freelancers and sole proprietors without a registered company. It does not publish whether Indian residents are eligible.³⁹

Are Adyen and TransFi 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.¹⁰⁸¹¹ TransFi: TransFi does not appear on the RBI list of authorised PA-CB entities as on 16 October 2026. Its terms list Trans-Fi India Private Limited as an affiliate but name no Indian licence, regulator or partner bank.¹²¹³

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

Adyen: Not published.³⁴ TransFi: TransFi says collections on the USA to India route settle within minutes to a few hours where instant rails are available; its help centre says BizPay transfers are processed as per the bank settlement cycle.⁵⁷

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

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, TransFi or a bank wire.³⁶

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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