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

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

Short answer

Airwallex 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 Razorpay is best for local transfers from the US, UK and eurozone.345

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareRazorpay costs about 1.00 to 1.18%; Airwallex does not publish full pricing.12
Bank transfer of USD 2,000Cannot compareRazorpay costs about 1.00 to 1.18%; Airwallex does not publish full pricing.12
Client paying USD 2,000 by card or linkCannot compareRazorpay costs about 2.00 to 2.36%; Airwallex does not publish full pricing.1
Airwallex is best forAirwallexRegistered businesses paid by bank transfer.34
Razorpay is best forRazorpayLocal transfers from the US, UK and eurozone.5

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%
2RazorpayThis pageMoneySaver 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 Razorpay compare at a glance?

Airwallex and Razorpay 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.6127

AirwallexRazorpay
Best forRegistered businesses paid by bank transfer34Local transfers from the US, UK and eurozone5
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.6MoneySaver bank transfers: 1% per transaction, GST applicable, with a flat fee of ₹1,000 on transactions below ₹1,00,000. Flash Links (US ACH debit): 2%. International cards: up to 3% per successful transaction plus 18% GST on the pricing page (the international payments page says 3% plus taxes). Enterprise pricing is custom.127
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.68MoneySaver bank transfers: Razorpay says 0% FX markup, converting at the live exchange rate. Card payments: converted at the rate on the date of payment (the processing bank's rate, per Razorpay's docs); any markup on card conversions is not published.129
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.10Push bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.511112
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.13Razorpay 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.5142
CurrenciesAirwallex says Global Accounts collect in 20+ currencies. The list available to an India-registered business is not published.84Virtual local accounts in USD, GBP and EUR plus a SWIFT account; Razorpay's docs list other currencies (such as SGD, AED, AUD, CHF, DKK, SEK and CAD accounts) as coming soon on the dashboard. Card payments are accepted in around 135 currencies, according to Razorpay.57
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.3Indian businesses with a completed Razorpay KYC. The MoneySaver onboarding form lists Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited and LLP as business types, and the business must fall under one of the export purpose codes Razorpay lists. International card payments need a website with terms, privacy, refund and shipping policy pages. Razorpay says it cannot offer international payments to NGOs.51512
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.1661718Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).19
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.813Support tickets raised from Razorpay's support page, per product.20
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.10Razorpay does not publish a per-transaction limit for international receipts. RBI's Payment Aggregator directions cap PA-CB export transactions at ₹25 lakh per transaction.21
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.422Bank transfer to virtual account details (ACH in USD, FPS in GBP, SEPA in EUR, and SWIFT), ACH debit through Flash Links for US payers, or international card and wallet payments through Razorpay checkout or payment links.5117
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.622Yes, international cards (Visa, Mastercard, Amex, Diners, Discover, JCB, UnionPay listed on the pricing page) and wallets such as Apple Pay and Google Pay, at up to 3% per successful transaction plus 18% GST.27

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

The INR you receive with Airwallex and Razorpay 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.

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
RazorpayMost INRMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,86,262 to ₹1,86,601₹4,65,655 to ₹4,66,503₹9,31,311 to ₹9,33,0071.00 to 1.18%

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.168

  • 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.1661718
  • 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.3
  • Best for: Registered businesses paid by bank transfer.34

What is Razorpay and who is it for?

Razorpay is a Bengaluru-based payment company whose international products let Indian businesses accept foreign card payments and receive bank transfers into virtual USD, GBP, EUR and SWIFT account details (the MoneySaver Export Account), with settlement in INR to an Indian bank account.7519

  • Regulated by: Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).19
  • Used by: Indian businesses with a completed Razorpay KYC. The MoneySaver onboarding form lists Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited and LLP as business types, and the business must fall under one of the export purpose codes Razorpay lists. International card payments need a website with terms, privacy, refund and shipping policy pages. Razorpay says it cannot offer international payments to NGOs.51512
  • Best for: Local transfers from the US, UK and eurozone.5

How do Airwallex and Razorpay fees and FX markup compare?

Airwallex and Razorpay 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%616130.6%Not statedClients paying by local bank transfer
Card acceptance, international cards (Singapore fee schedule)3.6% + SGD 0.56130.6%Not statedClients paying by card

What does Razorpay charge?

Transaction typeFeeFX markupGST on feesBest for
MoneySaver Export Account: bank transfer to virtual account details (Standard plan)INR 1000 up to INR 100,000; 1% above that120%Not statedClients paying by local bank transfer
FlashLinks (US) payment link paid by ACH debit2%10%Not statedClients paying through a payment link
International cards and wallets3%2Not published18%Clients paying by card

How do Airwallex and Razorpay compare on settlement speed?

Airwallex and Razorpay 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.106Registered businesses paid by bank transfer34
RazorpayPush bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.511112Automatic settlement in INR to the Indian bank account after Razorpay deducts its charges. Funds cannot be held in the foreign currency accounts. Razorpay also says it supports non-INR settlement to an EEFC account. No separate withdrawal fee is published.5Local transfers from the US, UK and eurozone5

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

Airwallex and Razorpay 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.43

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.13Airwallex'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.1661718Registered businesses paid by bank transfer34
RazorpayRazorpay 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.5142Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).19Local transfers from the US, UK and eurozone5

Which currencies, countries and payment methods do Airwallex and Razorpay support?

Airwallex and Razorpay 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.84Local 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.422Singapore 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.622Registered businesses paid by bank transfer34
RazorpayVirtual local accounts in USD, GBP and EUR plus a SWIFT account; Razorpay's docs list other currencies (such as SGD, AED, AUD, CHF, DKK, SEK and CAD accounts) as coming soon on the dashboard. Card payments are accepted in around 135 currencies, according to Razorpay.57Bank transfer to virtual account details (ACH in USD, FPS in GBP, SEPA in EUR, and SWIFT), ACH debit through Flash Links for US payers, or international card and wallet payments through Razorpay checkout or payment links.5117Yes, international cards (Visa, Mastercard, Amex, Diners, Discover, JCB, UnionPay listed on the pricing page) and wallets such as Apple Pay and Google Pay, at up to 3% per successful transaction plus 18% GST.27Local transfers from the US, UK and eurozone5

What are the strengths and limitations of Airwallex and Razorpay?

Airwallex and Razorpay 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.34
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.86
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.13

Limitations:

  • Airwallex does not appear under the name Airwallex in RBI's list of authorised payment aggregators, including PA-CB, as on 16 October 2026.1718
  • There is no India pricing page; India-registered businesses are onboarded by the Singapore entity, whose fee schedule does not mention India.166
  • The India document list requires a GST Registration Certificate for proprietorships and partnerships, and lists no route for unregistered individual freelancers.3
  • The FIRC is issued on request through support, and its fee is set by a banking partner and not published.13
  • Purpose code handling for receipts into India is not published.44
  • SWIFT payouts cost $20 (SHA) or $35 (OUR) under the Singapore fee schedule.6

What are the strengths and limitations of Razorpay?

Strengths:

  • You want clients in the US, UK or eurozone to pay by local bank transfer (ACH, FPS or SEPA) and receive INR in your Indian bank account the next business day after invoice details are shared.5
  • You want to offer international card or wallet checkout on your own website alongside bank transfers, from one dashboard.715
  • You are paid through Upwork, Deel, Toptal, Freelancer, Fiverr or Amazon and want those payouts to land in a virtual account; Razorpay says invoice upload is not required for Amazon, Upwork and Freelancer transactions.545

Limitations:

  • Every MoneySaver payment needs an invoice and buyer address uploaded before Razorpay settles it, except Amazon, Upwork and Freelancer platform transactions.545
  • Transactions below ₹1,00,000 attract a flat fee of ₹1,000 instead of the 1% fee.1
  • Funds cannot be held in the foreign currency accounts; they are converted and settled.5
  • Refunds are not supported on push bank transfers, and ACH debit (Flash Links) payments can be reversed by the payer through a chargeback.511
  • International card acceptance needs a website with policy pages and approval by Razorpay's banking partners, and the conversion markup on card payments is not published.159
  • Only the purpose codes on Razorpay's list can use the MoneySaver account; P0807 is not on that list.5

Should you choose Airwallex or Razorpay?

Choose between Airwallex and Razorpay 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.34
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.86
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.13

Choose Razorpay if:

  • You want clients in the US, UK or eurozone to pay by local bank transfer (ACH, FPS or SEPA) and receive INR in your Indian bank account the next business day after invoice details are shared.5
  • You want to offer international card or wallet checkout on your own website alongside bank transfers, from one dashboard.715
  • You are paid through Upwork, Deel, Toptal, Freelancer, Fiverr or Amazon and want those payouts to land in a virtual account; Razorpay says invoice upload is not required for Amazon, Upwork and Freelancer transactions.545

For example, say a designer invoices a US client USD 2,000. Because Airwallex 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.68129

Which other platforms should you consider besides Airwallex and Razorpay?

Other platforms to consider besides Airwallex and Razorpay are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.242526272829313233353637394041

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets230.68%242526272829Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2830Skydo review
Karbon BusinessUS bank transfers and marketplace payouts311.00 to 1.18%3132Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.31Karbon Business review
WinvestaLocal transfers with a published per-payment fee33341.24%33353637Free 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.3635Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork381.00 to 4.00%394041Free digital FIRA PDF for each transaction, issued by Payoneer's partner AD bank and available in the account under Manage, Reports and statements, within 24 to 72 hours (the same help article also says 1 to 3 business days). The e-FIRA/IRM in EDPMS is issued by the exporter's own bank, which may need the FIRA plus export documents.4142Payoneer 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]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  2. [2]Razorpay, Pricing (checked 2026-10-28)
  3. [3]Airwallex Help Centre, Documents required for companies in South East Asia (India section) (checked 2026-10-28)
  4. [4]Airwallex Help Centre, Which currencies can I get a Global Account in and what payments can I receive? (checked 2026-10-28)
  5. [5]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  6. [6]Airwallex Singapore, Fee schedule, last updated 10 October 2026 (checked 2026-10-28)
  7. [7]Razorpay, Accept International Payments (checked 2026-10-28)
  8. [8]Airwallex Singapore, Pricing (checked 2026-10-28)
  9. [9]Razorpay Docs, Currency Conversion (checked 2026-10-28)
  10. [10]Airwallex Docs, Payout network: bank accounts, India (checked 2026-10-28)
  11. [11]Razorpay Docs, Flash Links (ACH Debit) (checked 2026-10-28)
  12. [12]Razorpay Docs, International Payments FAQs (checked 2026-10-28)
  13. [13]Airwallex Help Centre, What is an FIRC and how do I get one? (checked 2026-10-28)
  14. [14]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  15. [15]Razorpay Docs, International Debit and Credit Cards (checked 2026-10-28)
  16. [16]Airwallex Help Centre, Eligible Countries and Territories (checked 2026-10-28)
  17. [17]RBI: Payment System Operators authorised under the Payment and Settlement Systems Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  18. [18]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  19. [19]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list (dated 16 October 2026)
  20. [20]Razorpay, Support (checked 2026-10-28)
  21. [21]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025
  22. [22]Airwallex Help Centre, Payments Eligibility (checked 2026-10-28)
  23. [23]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  24. [24]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  25. [25]Skydo, Home page (checked 2026-10-28)
  26. [26]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  27. [27]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  28. [28]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  29. [29]Skydo, Terms of use (checked 2026-10-28)
  30. [30]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  31. [31]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  32. [32]Karbon, PayPal alternative (checked 2026-10-28)
  33. [33]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  34. [34]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  35. [35]Winvesta, Multi-currency account (checked 2026-10-28)
  36. [36]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  37. [37]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  38. [38]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  39. [39]Payoneer India, Payoneer Fees (checked 2026-10-28)
  40. [40]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  41. [41]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  42. [42]Payoneer India, Digital FIRC page (checked 2026-10-28)
  43. [43]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  44. [44]Airwallex Help Centre, How can I create a transfer/payout? (checked 2026-10-28)
  45. [45]Razorpay Docs, Manage Invoices and Transactions (International Bank Transfer) (checked 2026-10-28)
  46. [46]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Airwallex or Razorpay?+

There is no cost verdict for a USD 5,000 bank transfer: razorpay costs about 1.00 to 1.18%; Airwallex does not publish full pricing.12 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 Razorpay 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.13 Razorpay: 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.5142

Can individual freelancers use Airwallex and Razorpay?+

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.3 Razorpay: Indian businesses with a completed Razorpay KYC. The MoneySaver onboarding form lists Individual, Sole Proprietorship, Partnership, Private Limited, Public Limited and LLP as business types, and the business must fall under one of the export purpose codes Razorpay lists. International card payments need a website with terms, privacy, refund and shipping policy pages. Razorpay says it cannot offer international payments to NGOs.51512

Are Airwallex and Razorpay 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.1661718 Razorpay: Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) appears on the RBI list of authorised payment system operators as a Payment Aggregator: Online, Physical, and Cross Border facilitating Inward and Outward transactions (PA-CB I and O).19

How fast do Airwallex and Razorpay 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 Razorpay: Push bank transfers (ACH, FPS, SEPA, SWIFT): T+1 from capture or from when invoice details are shared, whichever is later. Flash Links (ACH debit): around T+5 business days. International cards: Razorpay's FAQ refers to a T+7 working day settlement period, with early settlement at an additional, unpublished charge.511112

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

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, Razorpay or a bank wire.46

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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