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

Author:
Editorial team, serviceexportguide.com
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16 min read

Short answer

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: Payoneer is best for marketplace payouts such as Amazon or Upwork, and Cashfree Payments is best for registered businesses paid by local transfer.456

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot comparePayoneer costs about 1.00 to 4.00%; Cashfree Payments does not publish full pricing.123
Bank transfer of USD 2,000Cannot comparePayoneer costs about 1.00 to 4.00%; Cashfree Payments does not publish full pricing.123
Client paying USD 2,000 by card or linkCannot comparePayoneer costs about 1.99 to 4.96%; Cashfree Payments does not publish full pricing.13
Payoneer is best forPayoneerMarketplace payouts such as Amazon or Upwork.4
Cashfree Payments is best forCashfree PaymentsRegistered businesses paid by local transfer.56

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%
5PayoneerThis pageLocal 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 Payoneer and Cashfree Payments compare at a glance?

Payoneer 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.2178

PayoneerCashfree Payments
Best forMarketplace payouts such as Amazon or Upwork4Registered businesses paid by local transfer56
FeesReceiving account (local bank transfer): Payoneer's India multi-currency page says receiving USD is free for customers from India and other currencies are free; its India pricing page shows a standard 'fixed fee or 1%' for non-local currencies and says the fees applicable to you are shown in your account. From another Payoneer customer: free. Payment request: credit card 2.90% + $0.49, ACH bank debit (US only) 1%. Marketplace payouts: fees set by each marketplace. Intermediary banks may deduct fees on USD wires.21Global 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.78
FX markupNot published as a separate rate. Withdrawing to an Indian bank account in INR from a balance in another currency costs 1% to 4% of the transaction amount; Payoneer says the exact fee depends on region and transaction volume and is shown in your account.Cashfree 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.985
SettlementPayoneer's pages differ: the India pricing page says within 48 hours of receipt; the multi-currency account page and the India onboarding guide say within 24 hours.124Global 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.810
FIRAFree 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.311Cashfree'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.891210
CurrenciesLocal receiving account details in US dollar, British pound, euro, Australian dollar, Canadian dollar, Singapore dollar, Hong Kong dollar, UAE dirham, Chinese yuan and Japanese yen, per Payoneer's India multi-currency account page.2Global 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.6910
KYC: who can sign upIndividuals (freelancers) and businesses: at sign-up you say whether the account is for business or freelancing, and verify with a government ID such as Aadhaar or PAN and proof of an Indian bank account. Applicants must be over 18. Payoneer issues FIRAs in a company's name if the account is registered as a company. Detailed document lists by entity type are not published on the pages checked.1323Businesses 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.75
RBI PA-CB statusPayoneer lists 'Payoneer for India' as an Online Payment Gateway Service Provider (OPGSP) registered with the Reserve Bank of India (LO UIN No. MULO16008013). Payoneer India Private Limited received in-principle authorisation as a Payment Aggregator - Cross Border (PA-CB) on 22 January 2026; RBI lists it in Table E (applications under process, cannot operate) as of 16 October 2026 and states in-principle authorisation is not authorisation under Section 7 of the PSS Act. It does not appear in RBI's Certificates of Authorisation list dated 16 October 2026. Payoneer says INR payouts are processed by its partner AD banks over NEFT, RTGS and IMPS.141516173Cashfree 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.18912
SupportIndia phone numbers +91 80712-79452 and +91 80044-04022, a contact form after sign-in, and the Payoneer Community.3Support 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.1259
LimitsNot published on the Payoneer India pages checked.Global 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.12819
How clients payLocal bank transfer to Payoneer receiving account details; USD SWIFT wire to a Payoneer SWIFT receiving account; payment request paid by credit card, ACH bank debit (US only), local bank transfer or direct bank payment (UK only); marketplace payouts (for example Amazon, eBay, Fiverr, Upwork); transfer from another Payoneer customer.41Global 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.61020
Card paymentsYes, through a payment request: 2.90% + $0.49 for credit card payments (all currencies), per Payoneer's pricing page.14Yes, 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.79

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

The INR you receive with Payoneer 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.

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
PayoneerMost INRLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹1,80,947 to ₹1,86,601₹4,52,367 to ₹4,66,503₹9,04,734 to ₹9,33,0071.00 to 4.00%

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 Payoneer and who is it for?

Payoneer is a US-headquartered cross-border payments company whose account gives Indian freelancers and businesses receiving account details in several currencies, accepts marketplace payouts and client payment requests, and automatically withdraws received funds to an Indian bank account in rupees.24

  • Regulated by: Payoneer lists 'Payoneer for India' as an Online Payment Gateway Service Provider (OPGSP) registered with the Reserve Bank of India (LO UIN No. MULO16008013). Payoneer India Private Limited received in-principle authorisation as a Payment Aggregator - Cross Border (PA-CB) on 22 January 2026; RBI lists it in Table E (applications under process, cannot operate) as of 16 October 2026 and states in-principle authorisation is not authorisation under Section 7 of the PSS Act. It does not appear in RBI's Certificates of Authorisation list dated 16 October 2026. Payoneer says INR payouts are processed by its partner AD banks over NEFT, RTGS and IMPS.141516173
  • Used by: Individuals (freelancers) and businesses: at sign-up you say whether the account is for business or freelancing, and verify with a government ID such as Aadhaar or PAN and proof of an Indian bank account. Applicants must be over 18. Payoneer issues FIRAs in a company's name if the account is registered as a company. Detailed document lists by entity type are not published on the pages checked.1323
  • Best for: Marketplace payouts such as Amazon or Upwork.4

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.1856

  • 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.18912
  • 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.75
  • Best for: Registered businesses paid by local transfer.56

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

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

What does Payoneer charge?

Transaction typeFeeFX markupGST on feesBest for
Local bank transfer to Payoneer receiving account details0%1231 to 4%Not statedClients paying by local bank transfer
Payment request paid by credit card2.9% + USD 0.49131 to 4%Not statedClients paying by card
Payment request paid by ACH bank debit (US only)1%131 to 4%Not statedClients paying through a payment link
Payout from a marketplace or platform to PayoneerNot published131 to 4%Not statedMarketplace payouts

What does Cashfree Payments charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections: local account details or Global SWIFT AccountNot published870%Not statedClients paying by local bank transfer
International Payment Gateway: Visa or Mastercard international cards2.99%7Not publishedNot statedClients paying by card
International Payment Gateway: American Express2.95%7Not publishedNot statedClients paying by card

How do Payoneer and Cashfree Payments compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
PayoneerPayoneer's pages differ: the India pricing page says within 48 hours of receipt; the multi-currency account page and the India onboarding guide say within 24 hours.124Automatic: payments received are withdrawn to the linked Indian bank account (or EEFC account, per the multi-currency page) without a manual request. Fee: 1% to 4% of the amount when converted to INR (see fxConversion).124Marketplace payouts such as Amazon or Upwork4
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.810Automatic. 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.58Registered businesses paid by local transfer56

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

Payoneer 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
PayoneerFree 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.311Payoneer lists 'Payoneer for India' as an Online Payment Gateway Service Provider (OPGSP) registered with the Reserve Bank of India (LO UIN No. MULO16008013). Payoneer India Private Limited received in-principle authorisation as a Payment Aggregator - Cross Border (PA-CB) on 22 January 2026; RBI lists it in Table E (applications under process, cannot operate) as of 16 October 2026 and states in-principle authorisation is not authorisation under Section 7 of the PSS Act. It does not appear in RBI's Certificates of Authorisation list dated 16 October 2026. Payoneer says INR payouts are processed by its partner AD banks over NEFT, RTGS and IMPS.141516173Marketplace payouts such as Amazon or Upwork4
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.891210Cashfree 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.18912Registered businesses paid by local transfer56

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

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

PlatformCurrenciesHow clients payCard paymentsBest for
PayoneerLocal receiving account details in US dollar, British pound, euro, Australian dollar, Canadian dollar, Singapore dollar, Hong Kong dollar, UAE dirham, Chinese yuan and Japanese yen, per Payoneer's India multi-currency account page.2Local bank transfer to Payoneer receiving account details; USD SWIFT wire to a Payoneer SWIFT receiving account; payment request paid by credit card, ACH bank debit (US only), local bank transfer or direct bank payment (UK only); marketplace payouts (for example Amazon, eBay, Fiverr, Upwork); transfer from another Payoneer customer.41Yes, through a payment request: 2.90% + $0.49 for credit card payments (all currencies), per Payoneer's pricing page.14Marketplace payouts such as Amazon or Upwork4
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.6910Global 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.61020Yes, 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.79Registered businesses paid by local transfer56

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

Payoneer 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 Payoneer?

Strengths:

  • You are paid by marketplaces or platforms that pay out to Payoneer, such as Amazon, eBay, Fiverr or Upwork.4
  • Your clients want to pay by local bank transfer in USD, EUR, GBP or another supported currency using receiving account details.2
  • Some clients want to pay by credit card and you accept a 2.90% + $0.49 card fee on those payments.1
  • You want a free FIRA for every transaction delivered to your account without a request.3

Limitations:

  • The INR conversion fee is published only as a 1% to 4% range; the exact rate is shown inside the account.1
  • A 29.95 USD annual account fee applies if you receive less than 6,000 USD (or equivalent) in any 12 consecutive months.1
  • Funds cannot be held in the Payoneer balance by Indian customers; payments are withdrawn to the Indian bank automatically.12
  • Payoneer India's PA-CB application had in-principle authorisation only as of 16 October 2026; RBI lists it as unable to operate as a PA-CB until authorised.16
  • The purpose code on processed payments and issued FIRAs cannot be changed through Payoneer.3
  • The FIRA from Payoneer is not an e-FIRA; for EDPMS reporting the exporter's own bank issues the IRM and e-FIRA.3

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.56
  • Your invoices are each up to USD 10,000.12
  • You also want a card checkout for international clients, with a published platform fee.710

Limitations:

  • Global Collections pricing is not published; Cashfree quotes it on request.7
  • Cross-border payments are available only to businesses, so individuals without a registered business cannot use Global Collections per Cashfree.75
  • Invoice value is capped at USD 10,000 per transaction for Global Collections.12
  • Foreign currency balances cannot be held; all receipts settle in INR.8

Should you choose Payoneer or Cashfree Payments?

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

Choose Payoneer if:

  • You are paid by marketplaces or platforms that pay out to Payoneer, such as Amazon, eBay, Fiverr or Upwork.4
  • Your clients want to pay by local bank transfer in USD, EUR, GBP or another supported currency using receiving account details.2
  • Some clients want to pay by credit card and you accept a 2.90% + $0.49 card fee on those payments.1
  • You want a free FIRA for every transaction delivered to your account without a request.3

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.56
  • Your invoices are each up to USD 10,000.12
  • You also want a card checkout for international clients, with a published platform fee.710

For example, say a designer invoices a US client USD 2,000. Because Cashfree Payments 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.1985

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

Other platforms to consider besides Payoneer 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]Payoneer India, Payoneer Fees (checked 2026-10-28)
  2. [2]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  3. [3]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  4. [4]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  5. [5]Cashfree Payments Docs, Global Collections overview (checked 2026-10-28)
  6. [6]Cashfree Payments Docs, Global Collections: Collection Accounts (checked 2026-10-28)
  7. [7]Cashfree Payments, Payment Gateway Charges (India), International Cards, Global Collections and Cross Border FAQ (checked 2026-10-28)
  8. [8]Cashfree Payments, Global Collections: International wire transfer for Indian businesses (checked 2026-10-28)
  9. [9]Cashfree Payments, Cross Border Payment solutions: Accept international payments (checked 2026-10-28)
  10. [10]Cashfree Payments Docs, International Payment Gateway (IPG) overview (checked 2026-10-28)
  11. [11]Payoneer India, Digital FIRC page (checked 2026-10-28)
  12. [12]Cashfree Payments Docs, Global Collections FAQs (checked 2026-10-28)
  13. [13]Payoneer, How to receive international payments in India (last modified 31 August 2026, checked 2026-10-28)
  14. [14]Payoneer India, Payoneer's multi-jurisdictional licenses (checked 2026-10-28)
  15. [15]Payoneer press release, Payoneer receives in-principle authorization as Cross-Border Payment Aggregator in India, 22 January 2026
  16. [16]RBI, Status of applications received under the Payment and Settlement Systems Act, 2007, as on 16.10.2026, Table E (checked 2026-10-28)
  17. [17]RBI, Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, dated 16 October 2026 (checked 2026-10-28)
  18. [18]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)
  19. [19]RBI, Master Direction on Regulation of Payment Aggregators, 15 September 2025
  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]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: payoneer costs about 1.00 to 4.00%; Cashfree Payments does not publish full pricing.123 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

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

Payoneer: Free 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.311 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.891210

Can individual freelancers use Payoneer and Cashfree Payments?+

Payoneer: Individuals (freelancers) and businesses: at sign-up you say whether the account is for business or freelancing, and verify with a government ID such as Aadhaar or PAN and proof of an Indian bank account. Applicants must be over 18. Payoneer issues FIRAs in a company's name if the account is registered as a company. Detailed document lists by entity type are not published on the pages checked.1323 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.75

Are Payoneer and Cashfree Payments authorised by the RBI?+

Payoneer: Payoneer lists 'Payoneer for India' as an Online Payment Gateway Service Provider (OPGSP) registered with the Reserve Bank of India (LO UIN No. MULO16008013). Payoneer India Private Limited received in-principle authorisation as a Payment Aggregator - Cross Border (PA-CB) on 22 January 2026; RBI lists it in Table E (applications under process, cannot operate) as of 16 October 2026 and states in-principle authorisation is not authorisation under Section 7 of the PSS Act. It does not appear in RBI's Certificates of Authorisation list dated 16 October 2026. Payoneer says INR payouts are processed by its partner AD banks over NEFT, RTGS and IMPS.141516173 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.18912

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

Payoneer: Payoneer's pages differ: the India pricing page says within 48 hours of receipt; the multi-currency account page and the India onboarding guide say within 24 hours.124 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.810

Do I still need an LUT if I am paid through Payoneer 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 Payoneer, Cashfree Payments or a bank wire.41

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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