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Airwallex vs Cashfree Payments (2026): Which Is Better for Receiving International Payments in India?

Author:
Editorial team, serviceexportguide.com
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14 min read

Short answer

Neither Airwallex nor Cashfree Payments 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: Airwallex is best for registered businesses paid by bank transfer, and Cashfree Payments is best for registered businesses paid by local transfer.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.
Airwallex is best forAirwallexRegistered businesses paid by bank transfer.12
Cashfree Payments is best forCashfree PaymentsRegistered businesses paid by local transfer.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 Airwallex and Cashfree Payments compare at a glance?

Airwallex and Cashfree Payments 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.567

AirwallexCashfree Payments
Best forRegistered businesses paid by bank transfer12Registered businesses paid by local transfer34
FeesSingapore fee schedule: 0% for collections in most currencies; 0.60% for KRW, VND, BRL and MYR collections. A fee for incoming SWIFT payments is not listed.5Global Collections: Not published. The pricing page shows 'Request Price' and describes a 'Low, processing fee; no hidden charges'. Cashfree says there is no setup cost.67
FX markupSingapore fee schedule: 0.40% mark-up for major currencies (AUD, USD, HKD, CNY, JPY, EUR, GBP, CAD, CHF, NZD, SGD); 0.60% for a list that includes INR; a 1.00% Auto Conversion Fee is listed without a definition. How the margin applies to a USD to INR conversion is not published.58Cashfree says Global Collections has no forex markup and that it handles conversion to INR in real time. The exchange rate used and any spread are not published.973
SettlementAirwallex's docs give 0 to 2 business days for local INR payouts to India and 0 to 3 business days for SWIFT payouts to India.10Global Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.711
FIRAAirwallex says an FIRC is issued by an authorised bank in India; you request it from Airwallex support through the chatbot in the web app, and Airwallex coordinates with its banking partner. Airwallex says there may be a fee, set by the banking partner. The amount is not published.12Cashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.791311
CurrenciesAirwallex says Global Accounts collect in 20+ currencies. The list available to an India-registered business is not published.82Global Collections local account details in USD, EUR, CAD and GBP, plus SWIFT. Cashfree's documentation lists 17 supported currencies; its marketing pages say 30+ currencies from 180+ countries. The card gateway is described as accepting 140+ currencies.4911
KYC: who can sign upIndia-registered companies and LLPs, proprietorships and partnerships, and MSMEs, per Airwallex's India document list. Proprietorships and partnerships need a GST Registration Certificate. No route for unregistered individual freelancers is listed.1Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.63
RBI PA-CB statusAirwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1451516Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.17913
SupportHelp centre and support request form; for FIRC requests Airwallex directs users to the chatbot in the logged-in web app. India-specific support channels are not published.812Support form in the merchant dashboard and an account manager; Global Collections onboarding is through Contact Sales. Enterprise customers get a dedicated account manager and WhatsApp support.1339
LimitsAirwallex's docs list no maximum transaction limit for local INR or SWIFT payouts to India. Limits for India-registered account holders are not published.10Global Collections: invoice value up to USD 10,000 per transaction, per Cashfree; no daily or monthly cap on the number of transactions. The RBI Master Direction sets ₹25 lakh per transaction for PA-CB export transactions.13718
How clients payLocal bank transfer or SWIFT to Global Account details (for example USD in the United States by ACH or Fedwire, GBP by Faster Payments, EUR by SEPA). Airwallex says restrictions apply by onboarding entity and does not publish which accounts an India-registered business receives. Card acceptance availability for India-registered businesses is not published.219Global Collections: local bank transfer to collection account details (ACH in the US, SEPA in Europe, EFT in Canada, Faster Payments in the UK) or SWIFT. International Payment Gateway: international cards (Visa, Mastercard, American Express) on a checkout, and PayPal through the merchant's own linked PayPal account.41120
Card paymentsSingapore pricing: 3.30% for domestic cards and 3.60% for international cards, plus a SG$0.50 gateway fee per transaction. Airwallex says the company must be registered in an eligible country for the payment method; whether India is eligible is not published on the pages checked.519Yes, through the International Payment Gateway. Published platform fee: 2.99% for Visa and Mastercard international cards, 2.95% for American Express. PayPal is charged at PayPal's own rates; Cashfree says it adds no gateway charge for PayPal.69

How much INR do you receive on $2,000, $5,000 and $10,000 with Airwallex vs Cashfree Payments?

The INR you receive with Airwallex and Cashfree Payments 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: Cashfree Payments.

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 Airwallex and who is it for?

Airwallex is a global business account and payments company; its help centre lists India as a registration location onboarded by its Singapore entity, and it publishes no India-specific pricing page.148

  • Regulated by: Airwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1451516
  • Used by: India-registered companies and LLPs, proprietorships and partnerships, and MSMEs, per Airwallex's India document list. Proprietorships and partnerships need a GST Registration Certificate. No route for unregistered individual freelancers is listed.1
  • Best for: Registered businesses paid by bank transfer.12

What is Cashfree Payments and who is it for?

Cashfree Payments is a Bengaluru-based payment company, authorised by the RBI as a cross-border payment aggregator for inward and outward transactions, whose Global Collections product gives Indian businesses local collection account details abroad and settles receipts in INR.1734

  • Regulated by: Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.17913
  • Used by: Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.63
  • Best for: Registered businesses paid by local transfer.34

How do Airwallex and Cashfree Payments fees and FX markup compare?

Airwallex and Cashfree Payments charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Airwallex charge?

Transaction typeFeeFX markupGST on feesBest for
Local transfer to Global Account details (Singapore fee schedule)0%514120.6%Not statedClients paying by local bank transfer
Card acceptance, international cards (Singapore fee schedule)3.6% + SGD 0.55120.6%Not statedClients paying by card

What does Cashfree Payments charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections: local account details or Global SWIFT AccountNot published760%Not statedClients paying by local bank transfer
International Payment Gateway: Visa or Mastercard international cards2.99%6Not publishedNot statedClients paying by card
International Payment Gateway: American Express2.95%6Not publishedNot statedClients paying by card

How do Airwallex and Cashfree Payments compare on settlement speed?

Airwallex and Cashfree Payments publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
AirwallexAirwallex's docs give 0 to 2 business days for local INR payouts to India and 0 to 3 business days for SWIFT payouts to India.10Airwallex pays out to Indian bank accounts in INR by NEFT, IMPS, RTGS or iACH, or by SWIFT in foreign currencies. The Singapore fee schedule lists local payouts at $0 and SWIFT payouts at $20 (SHA) or $35 (OUR). Whether payout to your own Indian account is automatic is not published.105Registered businesses paid by bank transfer12
Cashfree PaymentsGlobal Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.711Automatic. Receipts are converted to INR and settled to the exporter's Indian bank account; Cashfree says balances cannot be held in foreign currency or settled to a foreign currency account. No separate withdrawal fee is published.37Registered businesses paid by local transfer34

Do Airwallex and Cashfree Payments provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Airwallex and Cashfree Payments 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.40

PlatformFIRARBI PA-CB statusBest for
AirwallexAirwallex says an FIRC is issued by an authorised bank in India; you request it from Airwallex support through the chatbot in the web app, and Airwallex coordinates with its banking partner. Airwallex says there may be a fee, set by the banking partner. The amount is not published.12Airwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1451516Registered businesses paid by bank transfer12
Cashfree PaymentsCashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.791311Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.17913Registered businesses paid by local transfer34

Which currencies, countries and payment methods do Airwallex and Cashfree Payments support?

Airwallex and Cashfree Payments accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
AirwallexAirwallex says Global Accounts collect in 20+ currencies. The list available to an India-registered business is not published.82Local bank transfer or SWIFT to Global Account details (for example USD in the United States by ACH or Fedwire, GBP by Faster Payments, EUR by SEPA). Airwallex says restrictions apply by onboarding entity and does not publish which accounts an India-registered business receives. Card acceptance availability for India-registered businesses is not published.219Singapore pricing: 3.30% for domestic cards and 3.60% for international cards, plus a SG$0.50 gateway fee per transaction. Airwallex says the company must be registered in an eligible country for the payment method; whether India is eligible is not published on the pages checked.519Registered businesses paid by bank transfer12
Cashfree PaymentsGlobal Collections local account details in USD, EUR, CAD and GBP, plus SWIFT. Cashfree's documentation lists 17 supported currencies; its marketing pages say 30+ currencies from 180+ countries. The card gateway is described as accepting 140+ currencies.4911Global Collections: local bank transfer to collection account details (ACH in the US, SEPA in Europe, EFT in Canada, Faster Payments in the UK) or SWIFT. International Payment Gateway: international cards (Visa, Mastercard, American Express) on a checkout, and PayPal through the merchant's own linked PayPal account.41120Yes, through the International Payment Gateway. Published platform fee: 2.99% for Visa and Mastercard international cards, 2.95% for American Express. PayPal is charged at PayPal's own rates; Cashfree says it adds no gateway charge for PayPal.69Registered businesses paid by local transfer34

What are the strengths and limitations of Airwallex and Cashfree Payments?

Airwallex and Cashfree Payments each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Airwallex?

Strengths:

  • Your business is a registered Indian company, LLP, partnership or GST-registered proprietorship that wants local account details abroad for clients paying by bank transfer.12
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.85
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.12

Limitations:

  • Airwallex does not appear under the name Airwallex in RBI's list of authorised payment aggregators, including PA-CB, as on 16 October 2026.1516
  • There is no India pricing page; India-registered businesses are onboarded by the Singapore entity, whose fee schedule does not mention India.145
  • The India document list requires a GST Registration Certificate for proprietorships and partnerships, and lists no route for unregistered individual freelancers.1
  • The FIRC is issued on request through support, and its fee is set by a banking partner and not published.12
  • Purpose code handling for receipts into India is not published.41
  • SWIFT payouts cost $20 (SHA) or $35 (OUR) under the Singapore fee schedule.5

What are the strengths and limitations of Cashfree Payments?

Strengths:

  • You bill through a registered Indian business and want overseas clients to pay by local transfer in USD, EUR, CAD or GBP, with INR settled automatically.34
  • Your invoices are each up to USD 10,000.13
  • You also want a card checkout for international clients, with a published platform fee.611

Limitations:

  • Global Collections pricing is not published; Cashfree quotes it on request.6
  • Cross-border payments are available only to businesses, so individuals without a registered business cannot use Global Collections per Cashfree.63
  • Invoice value is capped at USD 10,000 per transaction for Global Collections.13
  • Foreign currency balances cannot be held; all receipts settle in INR.7

Should you choose Airwallex or Cashfree Payments?

Choose between Airwallex and Cashfree Payments by how your clients pay and your usual invoice size.

Choose Airwallex if:

  • Your business is a registered Indian company, LLP, partnership or GST-registered proprietorship that wants local account details abroad for clients paying by bank transfer.12
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.85
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.12

Choose Cashfree Payments if:

  • You bill through a registered Indian business and want overseas clients to pay by local transfer in USD, EUR, CAD or GBP, with INR settled automatically.34
  • Your invoices are each up to USD 10,000.13
  • You also want a card checkout for international clients, with a published platform fee.611

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.58973

Which other platforms should you consider besides Airwallex and Cashfree Payments?

Other platforms to consider besides Airwallex and Cashfree Payments are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2223242526272930323335373839

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets210.68%222324252627Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2628Skydo review
Karbon BusinessUS bank transfers and marketplace payouts291.00 to 1.18%2930Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.29Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone311.00 to 1.18%3233Razorpay 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.313433Razorpay review
WinvestaLocal transfers with a published per-payment fee35361.24%35373839Free 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.3837Winvesta 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]Airwallex Help Centre, Documents required for companies in South East Asia (India section) (checked 2026-10-28)
  2. [2]Airwallex Help Centre, Which currencies can I get a Global Account in and what payments can I receive? (checked 2026-10-28)
  3. [3]Cashfree Payments Docs, Global Collections overview (checked 2026-10-28)
  4. [4]Cashfree Payments Docs, Global Collections: Collection Accounts (checked 2026-10-28)
  5. [5]Airwallex Singapore, Fee schedule, last updated 10 October 2026 (checked 2026-10-28)
  6. [6]Cashfree Payments, Payment Gateway Charges (India), International Cards, Global Collections and Cross Border FAQ (checked 2026-10-28)
  7. [7]Cashfree Payments, Global Collections: International wire transfer for Indian businesses (checked 2026-10-28)
  8. [8]Airwallex Singapore, Pricing (checked 2026-10-28)
  9. [9]Cashfree Payments, Cross Border Payment solutions: Accept international payments (checked 2026-10-28)
  10. [10]Airwallex Docs, Payout network: bank accounts, India (checked 2026-10-28)
  11. [11]Cashfree Payments Docs, International Payment Gateway (IPG) overview (checked 2026-10-28)
  12. [12]Airwallex Help Centre, What is an FIRC and how do I get one? (checked 2026-10-28)
  13. [13]Cashfree Payments Docs, Global Collections FAQs (checked 2026-10-28)
  14. [14]Airwallex Help Centre, Eligible Countries and Territories (checked 2026-10-28)
  15. [15]RBI: Payment System Operators authorised under the Payment and Settlement Systems Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  16. [16]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  17. [17]RBI, Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 for setting up and operating payment systems in India, Payment Aggregators table (checked 2026-10-28)
  18. [18]RBI, Master Direction on Regulation of Payment Aggregators, 15 September 2025
  19. [19]Airwallex Help Centre, Payments Eligibility (checked 2026-10-28)
  20. [20]Cashfree Payments Docs, PayPal for International Payments (checked 2026-10-28)
  21. [21]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  22. [22]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  23. [23]Skydo, Home page (checked 2026-10-28)
  24. [24]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  25. [25]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  26. [26]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  27. [27]Skydo, Terms of use (checked 2026-10-28)
  28. [28]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  29. [29]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  30. [30]Karbon, PayPal alternative (checked 2026-10-28)
  31. [31]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  32. [32]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  33. [33]Razorpay, Pricing (checked 2026-10-28)
  34. [34]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  35. [35]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  36. [36]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  37. [37]Winvesta, Multi-currency account (checked 2026-10-28)
  38. [38]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  39. [39]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  40. [40]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  41. [41]Airwallex Help Centre, How can I create a transfer/payout? (checked 2026-10-28)
  42. [42]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Airwallex or Cashfree Payments?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.58973 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Airwallex and Cashfree Payments give a FIRA to Indian exporters?+

Airwallex: Airwallex says an FIRC is issued by an authorised bank in India; you request it from Airwallex support through the chatbot in the web app, and Airwallex coordinates with its banking partner. Airwallex says there may be a fee, set by the banking partner. The amount is not published.12 Cashfree Payments: Cashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.791311

Can individual freelancers use Airwallex and Cashfree Payments?+

Airwallex: India-registered companies and LLPs, proprietorships and partnerships, and MSMEs, per Airwallex's India document list. Proprietorships and partnerships need a GST Registration Certificate. No route for unregistered individual freelancers is listed.1 Cashfree Payments: Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.63

Are Airwallex and Cashfree Payments authorised by the RBI?+

Airwallex: Airwallex's help centre lists India as a supported registration location, with the business onboarded by the Airwallex Singapore entity. Airwallex (Singapore) Pte. Ltd. says it is licensed in Singapore as a Major Payment Institution. Airwallex does not appear under the name Airwallex in RBI's list of authorised payment system operators (including PA-CB) as on 16 October 2026, nor in RBI's status of PA applications as on the same date.1451516 Cashfree Payments: Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.17913

How fast do Airwallex and Cashfree Payments pay out to an Indian bank?+

Airwallex: Airwallex's docs give 0 to 2 business days for local INR payouts to India and 0 to 3 business days for SWIFT payouts to India.10 Cashfree Payments: Global Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.711

Do I still need an LUT if I am paid through Airwallex or Cashfree Payments?+

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 Airwallex, Cashfree Payments or a bank wire.42

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.

Keep reading

Platforms

Airwallex for Indian service exporters: how it works, costs and limits

How Indian businesses can use Airwallex to get paid from abroad: Singapore onboarding, who can sign up, fees, FIRC on request, purpose codes and the 2026 RBI rules.

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Cashfree Payments for Indian service exporters: how it works, costs and limits

How Cashfree Payments Global Collections and its international card gateway work for Indian service exporters: RBI status, who can sign up, FIRA, limits and costs.

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