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

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Short answer

On published fees for a USD 5,000 bank transfer, Skydo leaves more rupees: about 0.68% in costs against 1.00 to 1.18%.78123456 The better choice depends on how your client pays: Karbon Business is best for uS bank transfers and marketplace payouts, and Skydo is best for local bank transfers from major markets.710

Use caseBetter optionWhy
Bank transfer of USD 5,000SkydoEstimated cost 0.68% against 1.00 to 1.18%.12345678
Bank transfer of USD 2,000DependsCost ranges overlap: Karbon Business 1.00 to 1.18%, Skydo 1.12%.78123456
Client paying USD 2,000 by card or linkCannot compareSkydo costs about 2.00 to 2.36%; Karbon Business does not publish full pricing.2956
Karbon Business is best forKarbon BusinessUS bank transfers and marketplace payouts.7
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 costThis pageBank 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 Karbon Business and Skydo compare at a glance?

Karbon Business 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.8712

Karbon BusinessSkydo
Best forUS bank transfers and marketplace payouts7Local bank transfers from major markets10
FeesKarbon's PayPal alternative page lists a 1% transaction fee in its feature list; its freelancer page gives no fee amount.87Skydo 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 markupKarbon's freelancer page says 0% markup on inward remittance; its PayPal comparison page gives a forex markup of 0.5% to 1.0%. The home page says displayed amounts are indicative and depend on the rate booking date.7811Skydo'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
SettlementKarbon says international payments reach India within 24 to 48 hours.7Skydo'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.5612
FIRAKarbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.7Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513
CurrenciesKarbon names USD, EUR and GBP; the virtual account it describes is in USD.7Local accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1014
KYC: who can sign upKarbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.715Skydo'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 statusKarbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.151611Skydo 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.176
SupportWhatsApp +91 74117 02726, sales@karboncard.com, support@karboncard.com and 1-800-309-8470.7Skydo publishes support@skydo.com and phone 7026000500.4
LimitsNot published by Karbon. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.Skydo 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.418
How clients payBank transfer to a virtual USD account (US account details in the user's name), payment requests or invoices sent by email or WhatsApp, and as a payout method on Upwork, Fiverr and Toptal.7Bank 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.101996
Card paymentsNot published.Not 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 Karbon Business vs Skydo?

The INR you receive with Karbon Business 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%
Karbon BusinessBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹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 Karbon Business and who is it for?

Karbon Business is a Bengaluru fintech that markets a virtual USD account, payment requests and inward remittances in INR to Indian freelancers and exporters; its forex terms say export receipts are processed under a payment partner's connected user terms.715

  • Regulated by: Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.151611
  • Used by: Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.715
  • Best for: US bank transfers and marketplace payouts.7

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.17610

  • 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.176
  • 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 Karbon Business and Skydo fees and FX markup compare?

Karbon Business and Skydo charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Karbon Business charge?

Transaction typeFeeFX markupGST on feesBest for
Bank transfer to a Karbon virtual USD account1%780%Not statedClients paying by local bank transfer

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 929560%Not statedClients paying through a payment link

How do Karbon Business and Skydo compare on settlement speed?

Karbon Business and Skydo publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
Karbon BusinessKarbon says international payments reach India within 24 to 48 hours.7Paid in INR to the user's Indian bank account. Payout fee not published.78US bank transfers and marketplace payouts7
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.5612Converted 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 Karbon Business and Skydo provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Karbon Business 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.37

PlatformFIRARBI PA-CB statusBest for
Karbon BusinessKarbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.7Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.151611US bank transfers and marketplace payouts7
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.513Skydo 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.176Local bank transfers from major markets10

Which currencies, countries and payment methods do Karbon Business and Skydo support?

Karbon Business and Skydo accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
Karbon BusinessKarbon names USD, EUR and GBP; the virtual account it describes is in USD.7Bank transfer to a virtual USD account (US account details in the user's name), payment requests or invoices sent by email or WhatsApp, and as a payout method on Upwork, Fiverr and Toptal.7Not published.US bank transfers and marketplace payouts7
SkydoLocal accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.1014Bank 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.101996Not 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 Karbon Business and Skydo?

Karbon Business 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 Karbon Business?

Strengths:

  • Your clients can pay by US bank transfer to a USD account, or you are paid out by Upwork, Fiverr or Toptal.7
  • You want INR in your Indian bank and a FIRA for each receipt.7

Limitations:

  • No receiving fee, payout fee or FIRA cost is published.711
  • Karbon itself is not an RBI-authorised payment aggregator; export receipts run through a third party under separate terms.1615
  • The forex terms address incorporated users, while marketing pages address freelancers; eligibility for unregistered individuals is not published.157
  • Purpose code handling and card payment options are not published.7

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.517

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.38
  • No card payment option or card fee is published.9
  • 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 Karbon Business or Skydo?

Choose between Karbon Business and Skydo by how your clients pay and your usual invoice size.

Choose Karbon Business if:

  • Your clients can pay by US bank transfer to a USD account, or you are paid out by Upwork, Fiverr or Toptal.7
  • You want INR in your Indian bank and a FIRA for each receipt.7

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.517

For example, say a designer invoices a US client USD 2,000 by bank transfer. On published fees, Karbon Business costs 1.00 to 1.18% and Skydo 1.12%. The ranges overlap, so the cheaper one depends on where each provider's markup lands; compare the rate on your first FIRA.78123456

Which other platforms should you consider besides Karbon Business and Skydo?

Other platforms to consider besides Karbon Business and Skydo are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2122242627283031323536

PlatformBest forEstimated cost on USD 5,000FIRAReview
RazorpayLocal transfers from the US, UK and eurozone201.00 to 1.18%2122Razorpay 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.202322Razorpay review
WinvestaLocal transfers with a published per-payment fee24251.24%24262728Free 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.2726Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork291.00 to 4.00%303132Free 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.3233Payoneer review
PayPalClients paying by card or PayPal balance347.27 to 8.23%3536Free weekly digital FIRA (Foreign Inward Remittance Advise) from February 2026, downloadable under Reports, then Tax, in a business account for the last 12 months; earlier transactions are covered by monthly FIRAs. Custom FIRA: 100 INR plus 18% GST per transaction for up to 20 transactions, or 2,000 INR plus 18% GST for a bulk request above 20 transactions; PayPal says custom FIRAs are issued by Citibank.36PayPal 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]Karbon, Karbon for freelancers (checked 2026-10-28)
  8. [8]Karbon, PayPal alternative (checked 2026-10-28)
  9. [9]Skydo FAQ, What are the fees for using Payment Links? (checked 2026-10-28)
  10. [10]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  11. [11]Karbon, Karbon FX Remittances, home page (checked 2026-10-28)
  12. [12]Skydo FAQs, How long does settlement take on InstaLinks? (checked 2026-10-28)
  13. [13]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  14. [14]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  15. [15]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  16. [16]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), list dated 16 October 2026 (checked 2026-10-28)
  17. [17]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  18. [18]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraph 11 (checked 2026-10-28)
  19. [19]Skydo FAQs, When should I use the International SWIFT account and when should I use the Local Account? (checked 2026-10-28)
  20. [20]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  21. [21]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  22. [22]Razorpay, Pricing (checked 2026-10-28)
  23. [23]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  24. [24]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  25. [25]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  26. [26]Winvesta, Multi-currency account (checked 2026-10-28)
  27. [27]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  28. [28]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  29. [29]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  30. [30]Payoneer India, Payoneer Fees (checked 2026-10-28)
  31. [31]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  32. [32]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  33. [33]Payoneer India, Digital FIRC page (checked 2026-10-28)
  34. [34]PayPal India, User Agreement for PayPal Services (last updated 13 January 2025) (checked 2026-10-28)
  35. [35]PayPal India, PayPal Merchant Fees (page last updated 28 March 2024) (checked 2026-10-28)
  36. [36]PayPal India, Foreign Inward Remittance Advise (FIRA) (checked 2026-10-28)
  37. [37]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  38. [38]Skydo FAQs, From which countries I can not receive payments using Skydo? (checked 2026-10-28)
  39. [39]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Karbon Business or Skydo?+

Skydo is cheaper on published fees for a USD 5,000 bank transfer: estimated cost 0.68% against 1.00 to 1.18%.12345678 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Karbon Business and Skydo give a FIRA to Indian exporters?+

Karbon Business: Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.7 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.513

Can individual freelancers use Karbon Business and Skydo?+

Karbon Business: Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.715 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 Karbon Business and Skydo authorised by the RBI?+

Karbon Business: Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.151611 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.176

How fast do Karbon Business and Skydo pay out to an Indian bank?+

Karbon Business: Karbon says international payments reach India within 24 to 48 hours.7 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.5612

Do I still need an LUT if I am paid through Karbon Business 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 Karbon Business, Skydo or a bank wire.39

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.