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PayPal vs Cashfree Payments (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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15 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: PayPal is best for clients paying by card or PayPal balance, and Cashfree Payments is best for registered businesses paid by local transfer.345

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot comparePayPal costs about 7.27 to 8.23%; Cashfree Payments does not publish full pricing.12
Bank transfer of USD 2,000Cannot comparePayPal costs about 7.28 to 8.24%; Cashfree Payments does not publish full pricing.12
Client paying USD 2,000 by card or linkCannot comparePayPal costs about 7.28 to 8.24%; Cashfree Payments does not publish full pricing.12
PayPal is best forPayPalClients paying by card or PayPal balance.3
Cashfree Payments is best forCashfree PaymentsRegistered businesses paid by local transfer.45

1,000 USD = ₹94,243 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#Provider and routeBest forFee (+GST)MarkupYou receiveCost
1Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹942plus GST, rate not stated0%₹93,131 to ₹93,3011.00 to 1.18%
2RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,000plus GST, rate not stated0%₹93,063 to ₹93,2431.06 to 1.25%
3WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,4350%₹92,8091.52%
4SkydoPayment link (InstaLinks) paid by ACH debitLocal bank transfers from major markets₹1,885plus GST, rate not stated0%₹92,019 to ₹92,3582.00 to 2.36%
5PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹90,473 to ₹93,3011.00 to 4.00%
6PayPalThis pageInternational 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 PayPal and Cashfree Payments compare at a glance?

PayPal 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.167

PayPalCashfree Payments
Best forClients paying by card or PayPal balance3Registered businesses paid by local transfer45
Fees4.40% plus a fixed fee per international commercial transaction. Fixed fee by currency received, for example 0.30 USD, 0.35 EUR, 0.20 GBP, 0.30 AUD, 0.30 CAD. Approved micropayment accounts pay 6.00% plus a micropayments fixed fee (for example 0.05 USD) instead.1Global Collections: Not published. The pricing page shows 'Request Price' and describes a 'Low, processing fee; no hidden charges'. Cashfree says there is no setup cost.67
FX markupBase exchange rate plus a fee. PayPal lists 3.0% above the base exchange rate for 'converting balance and payments received into another currency' and 4.00% for 'conversions in all other cases' (INR listed at 4.00%). The fee page does not say which of the two applies when the balance is converted to INR for transfer to an Indian bank.13Cashfree 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.874
SettlementPayPal asks users to allow up to 5 business days for funds to show in the bank account, depending on the bank's clearing process.9Global 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.710
FIRAFree 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.2Cashfree'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.781110
CurrenciesPayPal says Indian users can receive payments from international customers in more than 25 currencies. The list below is the currencies other than INR that appear in the fixed-fee table on PayPal's India fee page.121Global 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.5810
KYC: who can sign upIndian residents with a personal or business account; PayPal's KYC page covers individual business accounts, sole proprietors, partnership firms (including LLPs) and private limited companies. Receiving international payments needs a verified PAN, a linked Indian bank account, a purpose code, a description of the business and full KYC (Lite KYC allows one payment under $200).31314Businesses 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.64
RBI PA-CB statusPayPal's India user agreement says it provides export payment services as an online payment gateway service provider under RBI A.P. (DIR Series) Circular No. 16 (RBI/2015-16/185) and that PayPal is not a bank in India. RBI's status list as on 16 October 2026 shows PayPal Payments Private Limited under 'Existing PAs-CB which can operate as Payment Aggregator- Cross Border' with 'In-Principle Authorisation Granted'. PayPal is not on RBI's list of Certificates of Authorisation dated 16 October 2026.31516Cashfree 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.17811
SupportNot published as a list of channels for Indian users on the pages checked; PayPal India's help centre articles are the published support route.Support 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.1148
LimitsPayPal's India user agreement lists using Export Payment Services for a product or service worth more than USD 10,000 per transaction as a restricted activity. Lite KYC allows receiving one payment under $200.314Global 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.11718
How clients payThe buyer pays through PayPal from a PayPal balance, card, bank account or other payment method; alternative payment methods listed in PayPal's APM agreement can be enabled and are charged at commercial transaction rates. Payments from Indian customers are not supported.3112Global 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.51019
Card paymentsBuyers can pay by credit or debit card through PayPal. The India fee page publishes one rate for receiving international commercial transactions (4.40% plus fixed fee) and does not list a separate card rate.31Yes, 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.68

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

The INR you receive with PayPal 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
PayPalMost INRInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹1,72,958 to ₹1,74,760₹4,32,436 to ₹4,36,940₹8,64,899 to ₹8,73,9087.27 to 8.23%

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 PayPal and who is it for?

PayPal is a payment services company whose India entity, PayPal Payments Private Limited, lets Indian residents receive payments from buyers outside India and transfers the balance to a linked Indian bank account.31

  • Regulated by: PayPal's India user agreement says it provides export payment services as an online payment gateway service provider under RBI A.P. (DIR Series) Circular No. 16 (RBI/2015-16/185) and that PayPal is not a bank in India. RBI's status list as on 16 October 2026 shows PayPal Payments Private Limited under 'Existing PAs-CB which can operate as Payment Aggregator- Cross Border' with 'In-Principle Authorisation Granted'. PayPal is not on RBI's list of Certificates of Authorisation dated 16 October 2026.31516
  • Used by: Indian residents with a personal or business account; PayPal's KYC page covers individual business accounts, sole proprietors, partnership firms (including LLPs) and private limited companies. Receiving international payments needs a verified PAN, a linked Indian bank account, a purpose code, a description of the business and full KYC (Lite KYC allows one payment under $200).31314
  • Best for: Clients paying by card or PayPal balance.3

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.1745

  • 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.17811
  • 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.64
  • Best for: Registered businesses paid by local transfer.45

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

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

What does PayPal charge?

Transaction typeFeeFX markupGST on feesBest for
International commercial transaction received into a PayPal account (PayPal checkout or invoice)4.4% + plus a fixed fee by currency123 to 4%Not statedClients paying through a payment link

What does Cashfree Payments charge?

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

How do PayPal and Cashfree Payments compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
PayPalPayPal asks users to allow up to 5 business days for funds to show in the bank account, depending on the bank's clearing process.9PayPal transfers the balance automatically every day to the linked Indian bank account. Standard withdrawal to a bank account: no fee when no currency conversion is involved. A failed withdrawal because of incorrect bank details carries a bank return fee of 250.00 (currency not stated on the page).91Clients paying by card or PayPal balance3
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.710Automatic. 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.47Registered businesses paid by local transfer45

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

PayPal 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.39

PlatformFIRARBI PA-CB statusBest for
PayPalFree 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.2PayPal's India user agreement says it provides export payment services as an online payment gateway service provider under RBI A.P. (DIR Series) Circular No. 16 (RBI/2015-16/185) and that PayPal is not a bank in India. RBI's status list as on 16 October 2026 shows PayPal Payments Private Limited under 'Existing PAs-CB which can operate as Payment Aggregator- Cross Border' with 'In-Principle Authorisation Granted'. PayPal is not on RBI's list of Certificates of Authorisation dated 16 October 2026.31516Clients paying by card or PayPal balance3
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.781110Cashfree 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.17811Registered businesses paid by local transfer45

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

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

PlatformCurrenciesHow clients payCard paymentsBest for
PayPalPayPal says Indian users can receive payments from international customers in more than 25 currencies. The list below is the currencies other than INR that appear in the fixed-fee table on PayPal's India fee page.121The buyer pays through PayPal from a PayPal balance, card, bank account or other payment method; alternative payment methods listed in PayPal's APM agreement can be enabled and are charged at commercial transaction rates. Payments from Indian customers are not supported.3112Buyers can pay by credit or debit card through PayPal. The India fee page publishes one rate for receiving international commercial transactions (4.40% plus fixed fee) and does not list a separate card rate.31Clients paying by card or PayPal balance3
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.5810Global 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.51019Yes, 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.68Registered businesses paid by local transfer45

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

PayPal 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 PayPal?

Strengths:

  • Your foreign client wants to pay by card or from a PayPal balance rather than by bank transfer.3
  • Individual invoices are at or below USD 10,000, the per-transaction ceiling in PayPal's India user agreement.3
  • You want an export document without a per-payment fee: PayPal provides a free weekly digital FIRA.2

Limitations:

  • The receiving fee is 4.40% plus a fixed fee per international commercial payment, before any currency conversion fee.1
  • The fee page lists both 3.0% and 4.00% conversion fees and does not state which one applies to conversion to INR on withdrawal.1
  • Payments from Indian customers are not supported; only international payments can be received.12
  • Export Payment Services cannot be used for a product or service worth more than USD 10,000 per transaction.3
  • Dispute and chargeback fees apply, for example 8.00 USD at the standard rate and 16.00 USD at the high-volume rate, and receiving fees are not returned on refunds.1
  • As of 16 October 2026 RBI lists PayPal Payments Private Limited with in-principle (not final) authorisation as a cross-border payment aggregator.1516

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.45
  • Your invoices are each up to USD 10,000.11
  • You also want a card checkout for international clients, with a published platform fee.610

Limitations:

  • Global Collections pricing is not published; Cashfree quotes it on request.6
  • Cross-border payments are available only to businesses, so individuals without a registered business cannot use Global Collections per Cashfree.64
  • Invoice value is capped at USD 10,000 per transaction for Global Collections.11
  • Foreign currency balances cannot be held; all receipts settle in INR.7

Should you choose PayPal or Cashfree Payments?

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

Choose PayPal if:

  • Your foreign client wants to pay by card or from a PayPal balance rather than by bank transfer.3
  • Individual invoices are at or below USD 10,000, the per-transaction ceiling in PayPal's India user agreement.3
  • You want an export document without a per-payment fee: PayPal provides a free weekly digital FIRA.2

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.45
  • Your invoices are each up to USD 10,000.11
  • You also want a card checkout for international clients, with a published platform fee.610

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.13874

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

Other platforms to consider besides PayPal and Cashfree Payments are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2122232425262829313234363738

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets200.68%212223242526Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2527Skydo review
Karbon BusinessUS bank transfers and marketplace payouts281.00 to 1.18%2829Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.28Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone301.00 to 1.18%3132Razorpay 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.303332Razorpay review
WinvestaLocal transfers with a published per-payment fee34351.24%34363738Free 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.3736Winvesta 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]PayPal India, PayPal Merchant Fees (page last updated 28 March 2024) (checked 2026-10-28)
  2. [2]PayPal India, Foreign Inward Remittance Advise (FIRA) (checked 2026-10-28)
  3. [3]PayPal India, User Agreement for PayPal Services (last updated 13 January 2025) (checked 2026-10-28)
  4. [4]Cashfree Payments Docs, Global Collections overview (checked 2026-10-28)
  5. [5]Cashfree Payments Docs, Global Collections: Collection Accounts (checked 2026-10-28)
  6. [6]Cashfree Payments, Payment Gateway Charges (India), International Cards, Global Collections and Cross Border FAQ (checked 2026-10-28)
  7. [7]Cashfree Payments, Global Collections: International wire transfer for Indian businesses (checked 2026-10-28)
  8. [8]Cashfree Payments, Cross Border Payment solutions: Accept international payments (checked 2026-10-28)
  9. [9]PayPal India Help, How do I transfer funds to my bank account? (checked 2026-10-28)
  10. [10]Cashfree Payments Docs, International Payment Gateway (IPG) overview (checked 2026-10-28)
  11. [11]Cashfree Payments Docs, Global Collections FAQs (checked 2026-10-28)
  12. [12]PayPal India Help, Can I use PayPal to receive payments from Indian customers? (checked 2026-10-28)
  13. [13]PayPal India, Four steps to complete your KYC (checked 2026-10-28)
  14. [14]PayPal India Help, How do I receive payments through PayPal? (checked 2026-10-28)
  15. [15]RBI, Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16.10.2026, Table D (checked 2026-10-28)
  16. [16]RBI, Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, 16 October 2026 (checked 2026-10-28)
  17. [17]RBI, Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 for setting up and operating payment systems in India, Payment Aggregators table (checked 2026-10-28)
  18. [18]RBI, Master Direction on Regulation of Payment Aggregators, 15 September 2025
  19. [19]Cashfree Payments Docs, PayPal for International Payments (checked 2026-10-28)
  20. [20]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  21. [21]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  22. [22]Skydo, Home page (checked 2026-10-28)
  23. [23]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  24. [24]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  25. [25]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  26. [26]Skydo, Terms of use (checked 2026-10-28)
  27. [27]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  28. [28]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  29. [29]Karbon, PayPal alternative (checked 2026-10-28)
  30. [30]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  31. [31]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  32. [32]Razorpay, Pricing (checked 2026-10-28)
  33. [33]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  34. [34]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  35. [35]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  36. [36]Winvesta, Multi-currency account (checked 2026-10-28)
  37. [37]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  38. [38]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  39. [39]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  40. [40]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: payPal costs about 7.27 to 8.23%; Cashfree Payments 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 PayPal and Cashfree Payments give a FIRA to Indian exporters?+

PayPal: Free 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.2 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.781110

Can individual freelancers use PayPal and Cashfree Payments?+

PayPal: Indian residents with a personal or business account; PayPal's KYC page covers individual business accounts, sole proprietors, partnership firms (including LLPs) and private limited companies. Receiving international payments needs a verified PAN, a linked Indian bank account, a purpose code, a description of the business and full KYC (Lite KYC allows one payment under $200).31314 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.64

Are PayPal and Cashfree Payments authorised by the RBI?+

PayPal: PayPal's India user agreement says it provides export payment services as an online payment gateway service provider under RBI A.P. (DIR Series) Circular No. 16 (RBI/2015-16/185) and that PayPal is not a bank in India. RBI's status list as on 16 October 2026 shows PayPal Payments Private Limited under 'Existing PAs-CB which can operate as Payment Aggregator- Cross Border' with 'In-Principle Authorisation Granted'. PayPal is not on RBI's list of Certificates of Authorisation dated 16 October 2026.31516 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.17811

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

PayPal: PayPal asks users to allow up to 5 business days for funds to show in the bank account, depending on the bank's clearing process.9 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.710

Do I still need an LUT if I am paid through PayPal 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 PayPal, Cashfree Payments or a bank wire.40

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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What Are the Best PayPal Alternatives for Indian Exporters and Freelancers in 2026?

PayPal alternatives for Indian freelancers and agencies, ordered by estimated cost: INR received on $2,000 to $10,000, fees, FX markup, FIRA and RBI status.

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What Are the Best Cashfree Payments Alternatives for Indian Exporters and Freelancers in 2026?

Cashfree Payments alternatives for Indian freelancers and agencies, ordered by estimated cost: INR received on $2,000 to $10,000, fees, FX markup, FIRA and RBI status.