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

Author:
Editorial team, serviceexportguide.com
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Editorial team
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14 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 Skydo is best for local bank transfers from major markets.8910

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareSkydo costs about 0.68%; Airwallex does not publish full pricing.123456
Bank transfer of USD 2,000Cannot compareSkydo costs about 1.12%; Airwallex does not publish full pricing.123456
Client paying USD 2,000 by card or linkCannot compareSkydo costs about 2.00 to 2.36%; Airwallex does not publish full pricing.2756
Airwallex is best forAirwallexRegistered businesses paid by bank transfer.89
Skydo is best forSkydoLocal bank transfers from major markets.10

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%
4SkydoThis pagePayment 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 Skydo compare at a glance?

Airwallex and Skydo 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.1112

AirwallexSkydo
Best forRegistered businesses paid by bank transfer89Local bank transfers from major markets10
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.11Skydo says it charges USD 19 plus GST for transactions up to USD 2,000, USD 29 plus GST from USD 2,001 to USD 10,000, and 0.3% plus GST above USD 10,000; payments above USD 100K a month are priced on request.12
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.1112Skydo's product page says conversion is at a live mid-market rate with 0% markup. Its terms say conversion uses a retail foreign exchange rate determined by Skydo or its partner banks and do not guarantee the most favourable rate.56
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.13Skydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.5614
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.15Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.516
CurrenciesAirwallex says Global Accounts collect in 20+ currencies. The list available to an India-registered business is not published.129Local accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1017
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.8Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65
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.18111920Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.216
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.1215Skydo publishes support@skydo.com and phone 7026000500.4
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.13Skydo says the minimum transaction is USD 50 and there is no upper limit on the amount you can receive. The RBI Master Direction caps each PA-CB inward or outward transaction at ₹25 lakh; Skydo's pages do not explain how this applies to its account transfers.422
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.923Bank transfer to Skydo local account details in seven markets, or to an international SWIFT account for other currencies and countries; Skydo also offers payment links (InstaLinks) with ACH Debit.102476
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.1123Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.

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

The INR you receive with Airwallex and Skydo 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
SkydoMost INRTransfer to Skydo local account details or international SWIFT accountLocal bank transfers from major markets₹1,86,373₹4,67,991₹9,39,2060.68%

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.1812

  • 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.18111920
  • 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.8
  • Best for: Registered businesses paid by bank transfer.89

What is Skydo and who is it for?

Skydo is a Bengaluru-based payment aggregator, listed by the RBI as a PA-CB for inward and outward transactions, that gives Indian exporters local and SWIFT account details abroad and pays out in INR to their Indian bank.21610

  • Regulated by: Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.216
  • Used by: Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65
  • Best for: Local bank transfers from major markets.10

How do Airwallex and Skydo fees and FX markup compare?

Airwallex and Skydo 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%1118150.6%Not statedClients paying by local bank transfer
Card acceptance, international cards (Singapore fee schedule)3.6% + SGD 0.511150.6%Not statedClients paying by card

What does Skydo charge?

Transaction typeFeeFX markupGST on feesBest for
Transfer to Skydo local account details or international SWIFT accountUSD 19 up to USD 2,000; USD 29 up to USD 10,000; 0.3% above that1234560%18%Clients paying by local bank transfer
Payment link (InstaLinks) paid by ACH debit2% + minimum USD 927560%Not statedClients paying through a payment link

How do Airwallex and Skydo compare on settlement speed?

Airwallex and Skydo 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.13Airwallex 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.1311Registered businesses paid by bank transfer89
SkydoSkydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.5614Converted to INR and credited to the user's Indian bank account; Skydo says there is no additional SWIFT fee for the transfer to India apart from its own fee.35Local bank transfers from major markets10

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

Airwallex and Skydo 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.41

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.15Airwallex'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.18111920Registered businesses paid by bank transfer89
SkydoSkydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.516Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.216Local bank transfers from major markets10

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

Airwallex and Skydo 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.129Local 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.923Singapore 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.1123Registered businesses paid by bank transfer89
SkydoLocal accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1017Bank transfer to Skydo local account details in seven markets, or to an international SWIFT account for other currencies and countries; Skydo also offers payment links (InstaLinks) with ACH Debit.102476Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.Local bank transfers from major markets10

What are the strengths and limitations of Airwallex and Skydo?

Airwallex and Skydo 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.89
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.1211
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.15

Limitations:

  • Airwallex does not appear under the name Airwallex in RBI's list of authorised payment aggregators, including PA-CB, as on 16 October 2026.1920
  • There is no India pricing page; India-registered businesses are onboarded by the Singapore entity, whose fee schedule does not mention India.1811
  • The India document list requires a GST Registration Certificate for proprietorships and partnerships, and lists no route for unregistered individual freelancers.8
  • The FIRC is issued on request through support, and its fee is set by a banking partner and not published.15
  • Purpose code handling for receipts into India is not published.42
  • SWIFT payouts cost $20 (SHA) or $35 (OUR) under the Singapore fee schedule.11

What are the strengths and limitations of Skydo?

Strengths:

  • Your clients are in the US, UK, UAE, Canada, Europe, Australia or Singapore and can pay by local bank transfer in their own currency.10
  • Your invoices are large enough that a flat USD 19 or USD 29 fee is a small share of the amount; Skydo itself says invoices under $1,000 carry a higher effective rate.15
  • You want a FIRA issued for each payment by an RBI-authorised PA-CB.521

Limitations:

  • Payments below USD 50 cannot be processed, and the flat fee weighs more on small invoices.45
  • Skydo says it does not accept payments from 15 countries, but lists them only in an image.43
  • No card payment option or card fee is published.7
  • Skydo's pages give different settlement times (within 24 hours on its product page, T+1 to T+3 business days in its terms) and describe its FX rate differently (0% markup on its product page, a retail rate set by Skydo or its partner banks in its terms).56
  • Skydo's terms limit the service to business and commercial payments, so it does not cover personal remittances.6

Should you choose Airwallex or Skydo?

Choose between Airwallex and Skydo 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.89
  • You also pay overseas suppliers or contractors and want one account for collections and payouts in several currencies.1211
  • You are comfortable requesting an FIRC from support for each transaction rather than receiving one automatically.15

Choose Skydo if:

  • Your clients are in the US, UK, UAE, Canada, Europe, Australia or Singapore and can pay by local bank transfer in their own currency.10
  • Your invoices are large enough that a flat USD 19 or USD 29 fee is a small share of the amount; Skydo itself says invoices under $1,000 carry a higher effective rate.15
  • You want a FIRA issued for each payment by an RBI-authorised PA-CB.521

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.111256

Which other platforms should you consider besides Airwallex and Skydo?

Other platforms to consider besides Airwallex and Skydo are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2526282931333435373839

PlatformBest forEstimated cost on USD 5,000FIRAReview
Karbon BusinessUS bank transfers and marketplace payouts251.00 to 1.18%2526Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.25Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone271.00 to 1.18%2829Razorpay 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.273029Razorpay review
WinvestaLocal transfers with a published per-payment fee31321.24%31333435Free 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.3433Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork361.00 to 4.00%373839Free 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.3940Payoneer 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]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  2. [2]Skydo, Home page (checked 2026-10-28)
  3. [3]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  4. [4]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  5. [5]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  6. [6]Skydo, Terms of use (checked 2026-10-28)
  7. [7]Skydo FAQ, What are the fees for using Payment Links? (checked 2026-10-28)
  8. [8]Airwallex Help Centre, Documents required for companies in South East Asia (India section) (checked 2026-10-28)
  9. [9]Airwallex Help Centre, Which currencies can I get a Global Account in and what payments can I receive? (checked 2026-10-28)
  10. [10]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  11. [11]Airwallex Singapore, Fee schedule, last updated 10 October 2026 (checked 2026-10-28)
  12. [12]Airwallex Singapore, Pricing (checked 2026-10-28)
  13. [13]Airwallex Docs, Payout network: bank accounts, India (checked 2026-10-28)
  14. [14]Skydo FAQs, How long does settlement take on InstaLinks? (checked 2026-10-28)
  15. [15]Airwallex Help Centre, What is an FIRC and how do I get one? (checked 2026-10-28)
  16. [16]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  17. [17]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  18. [18]Airwallex Help Centre, Eligible Countries and Territories (checked 2026-10-28)
  19. [19]RBI: Payment System Operators authorised under the Payment and Settlement Systems Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  20. [20]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  21. [21]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  22. [22]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraph 11 (checked 2026-10-28)
  23. [23]Airwallex Help Centre, Payments Eligibility (checked 2026-10-28)
  24. [24]Skydo FAQs, When should I use the International SWIFT account and when should I use the Local Account? (checked 2026-10-28)
  25. [25]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  26. [26]Karbon, PayPal alternative (checked 2026-10-28)
  27. [27]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  28. [28]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  29. [29]Razorpay, Pricing (checked 2026-10-28)
  30. [30]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  31. [31]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  32. [32]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  33. [33]Winvesta, Multi-currency account (checked 2026-10-28)
  34. [34]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  35. [35]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  36. [36]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  37. [37]Payoneer India, Payoneer Fees (checked 2026-10-28)
  38. [38]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  39. [39]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  40. [40]Payoneer India, Digital FIRC page (checked 2026-10-28)
  41. [41]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  42. [42]Airwallex Help Centre, How can I create a transfer/payout? (checked 2026-10-28)
  43. [43]Skydo FAQs, From which countries I can not receive payments using Skydo? (checked 2026-10-28)
  44. [44]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: skydo costs about 0.68%; Airwallex does not publish full pricing.123456 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 Skydo 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.15 Skydo: 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.516

Can individual freelancers use Airwallex and Skydo?+

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.8 Skydo: Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65

Are Airwallex and Skydo 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.18111920 Skydo: Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.216

How fast do Airwallex and Skydo 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.13 Skydo: Skydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.5614

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

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, Skydo or a bank wire.44

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

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