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PayPal, Wise or Payoneer: What GST and the RBI's Advertising Purpose Code Mean for Content Marketing Agencies

Author:: Editorial team, serviceexportguide.com
Verified by:: Editorial team
Published: 31 October 2026
Last modified: 31 October 2026
Fees checked on: 28 October 2026
Reading time: 8 min read

Short answer

Content marketing for a client outside India is usually a zero-rated export of services under sections 2(6) and 16 of the IGST Act.¹¹¹³ RBI's advertising purpose code is P1007, "Advertising, trade fair service".⁸⁹ PayPal, Wise and Payoneer each let the agency set a purpose code in 2026.³¹³⁸³⁹ From 1 October 2026 each invoice needs an EDF.¹

Applies to	Rules involved	Platforms compared	Last verified
Indian content marketing agencies paid by clients outside India¹¹	RBI purpose codes (Circular No. 84 of 2012); IGST Act sections 2(6), 13(2), 16; CGST rule 96A; FEMA Export and Import Regulations, 2026¹⁷¹¹¹²¹³¹⁴	Razorpay, Karbon Business, Skydo, Payoneer, PayPal, Wise²¹²³²⁶²⁹³⁴³⁹	31 October 2026

Invoice amountCurrencyHow the client pays

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 route	Best for	Fee (+GST)	Markup	You receive	Cost
1	Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD account	US bank transfers and marketplace payouts	₹942plus GST, rate not stated	0%	₹93,131 to ₹93,301	1.00 to 1.18%
2	RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)	Local transfers from the US, UK and eurozone	₹1,000plus GST, rate not stated	0%	₹93,063 to ₹93,243	1.06 to 1.25%
3	WinvestaGlobal Collections Account, standard plan (up to 2,000 a month per currency)	Local transfers with a published per-payment fee	₹1,435	0%	₹92,809	1.52%
4	SkydoPayment link (InstaLinks) paid by ACH debit	Local bank transfers from major markets	₹1,885plus GST, rate not stated	0%	₹92,019 to ₹92,358	2.00 to 2.36%
5	PayoneerLocal bank transfer to Payoneer receiving account details	Marketplace payouts such as Amazon or Upwork	₹0no GST stated	1 to 4%	₹90,473 to ₹93,301	1.00 to 4.00%
6	PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹4,175no GST stated	3 to 4%	₹86,465 to ₹87,366	7.30 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.

A content marketing agency in Jaipur writing blogs and newsletters for a Canadian SaaS company, or a Bengaluru studio producing case studies for a Dutch logistics firm, is selling a marketing service abroad. Whether the client pays through PayPal, Wise or Payoneer, GST treats the work as an export and the bank records it under an RBI purpose code.⁷¹¹

This page compares those platforms with the lowest-cost providers on published fees and explains which purpose code fits content work. Agencies that also run paid media should read international payments for digital marketing agencies; solo writers should read international payments for content writers.

How do PayPal, Wise and Payoneer compare for content marketing agencies?

PayPal, Wise and Payoneer compare on fees, conversion and FIRA: PayPal charges 4.40% plus a fixed fee, Payoneer charges 1% to 4% to withdraw to INR, and Wise charges a 2 USD equivalent per INR transfer (India help article; its India receive pricing page describes a free e-FIRC) and publishes no INR conversion percentage.²⁹³⁴³⁹⁴⁰ Razorpay, Karbon Business and Skydo are the three lowest-cost providers for a $2,000 USD receipt on published fees.²¹²⁴²⁶

The table is sorted by estimated cost on a $2,000 USD receipt, cheapest first, with Wise last because it publishes no INR conversion percentage.⁴⁰

Platform	Best for	Fee	FX markup	Settlement	FIRA	RBI PA-CB status	Source
Razorpay	Local transfers from the US, UK and eurozone	MoneySaver bank transfer 1%, flat ₹1,000 below ₹1,00,000; GST applies	0% on MoneySaver transfers	T+1 for push bank transfers	FIRS emailed within 24 hours of settlement	Authorised PA-CB, inward and outward	⁵²¹²²
Karbon Business	US bank transfers and marketplace payouts	1% transaction fee listed on its PayPal comparison page	0% (freelancer page); 0.5% to 1.0% (PayPal alternative page)	24 to 48 hours	FIRA for every transaction from an unnamed partner bank	Not on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB	⁵²³²⁴²⁵
Skydo	Local bank transfers from major markets	USD 19 + GST up to USD 2,000; USD 29 + GST to USD 10,000; 0.3% + GST above	0% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)	Within 24 hours (product page); T+1 to T+3 business days (terms)	Free FIRA on every payment	Authorised PA-CB, inward and outward, 8 January 2026	⁵²⁶²⁷²⁸⁴³
Payoneer	Marketplace payouts such as Amazon or Upwork	Free to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page); card payment request 2.90% + $0.49	INR withdrawal 1% to 4%, shown in the account	Within 24 hours (multi-currency account page); within 48 hours (pricing page)	Free digital FIRA per transaction from a partner AD bank	In-principle PA-CB authorisation 22 January 2026; not on RBI's authorised list of 16 October 2026	⁶²⁹³⁰³¹³²³³
PayPal	Clients paying by card or PayPal balance	4.40% plus a fixed fee, for example 0.30 USD	3.0% or 4.00% above the base rate	Up to 5 business days to the bank	Free weekly digital FIRA from February 2026	In-principle authorisation as an existing PA-CB; not on RBI's authorised list of 16 October 2026	⁶³⁴³⁵³⁶³⁷
Wise	Bank transfers to local account details	Equivalent of 2 USD per transfer to the INR account (help article); free e-FIRC (receive pricing page); 18% GST on Wise fees	Mid-market rate plus a currency-dependent fee; no INR percentage published	INR in 1 to 2 days after Wise receives funds	e-FIRC per transfer within 3 working days	Authorised PA-CB, inward, 12 March 2026	⁵³⁹⁴⁰⁴¹

Monthly retainers from agencies abroad usually suit local account details, while a small client paying one invoice by card may prefer PayPal; Wise does not offer card acceptance to India-based businesses.³⁵⁴²

Which RBI and GST rules apply to content marketing agencies?

Content marketing agencies paid from abroad follow the IGST Act for GST and the FEMA (Export and Import of Goods and Services) Regulations, 2026 (the 2026 Regulations) for the foreign exchange.¹¹¹ Content written in India and delivered online usually has its place of supply at the client's location under section 13(2).¹²

Rule	Best for (who it applies to)	Plain meaning	Source
IGST Act section 2(6)	Every agency invoicing a client abroad	Five conditions make a supply an export, including payment in convertible foreign exchange	¹¹
Circular No. 161/17/2021-GST	Agencies billing a related company abroad	A subsidiary supplying its foreign parent is not merely an establishment of a distinct person; a branch billing its head office is	¹⁸
IGST Act section 16 and FORM GST RFD-11	GST-registered agencies	Exports are zero-rated; an LUT for the financial year allows invoices without IGST	¹³¹⁵
CGST rule 46	Every export invoice under an LUT	The invoice carries the endorsement for supply under a Letter of Undertaking without payment of integrated tax	¹⁷
CGST rule 96A(1)(b)	Agencies exporting under an LUT	IGST with interest if payment is not received within one year or the FEMA period, whichever is later	¹⁴
2026 Regulations, regulations 3, 4 and 5	Every service exporter	EDF within 30 days from the end of the invoice month; realisation within nine months	¹²
PA Master Direction, paragraph 11(d)	Agencies paid through a PA-CB	₹25 lakh maximum per transaction	⁴

Agencies that subcontract writing to other Indian freelancers still export only their own invoice to the foreign client; the freelancer's invoice to the agency is domestic.¹¹

Which purpose code applies to a content marketing agency?

A content marketing agency selling content as a marketing service usually uses P1007, "Advertising, trade fair service", which is RBI's advertising purpose code.⁸⁹ Some searches name P0801 or P0804 as advertising codes, but in RBI's list P0801 is "Hardware consultancy/implementation" and P0804 is "Repair and maintenance of computer and software".⁸⁹

Code	Best for (transaction type)	Official RBI description	Source
P1007	Blogs, social content, newsletters and campaigns sold as marketing	Advertising, trade fair service	⁸⁹
P1006	Content strategy consulting and public relations	Business and management consultancy and public relations services	⁸⁹
P1017	Publishing and printing work for a foreign publisher	Publishing and printing services	⁸⁹
P0902	Licensing rights in original works such as manuscripts	Receipts for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films), patents, copyrights, trademarks, industrial processes, franchises etc.	⁸⁹

The codes come from RBI A.P. (DIR Series) Circular No. 84 of 29 February 2012.⁷ See the P1007 purpose code page and the purpose code finder.

Which option is cheapest for a content agency at $500, $2,000 and $5,000?

On published fees, local bank transfer providers cost the least on $2,000 and $5,000 receipts, and PayPal costs the most of the providers with full published pricing.²¹²⁶³⁴ The table below calculates rupees received at today's rate.

Platform	Best for	INR on USD 2,000	INR on USD 5,000	INR on USD 10,000	Cost on USD 5,000
SkydoMost INRTransfer to Skydo local account details or international SWIFT account	Local bank transfers from major markets	₹1,86,373	₹4,67,991	₹9,39,206	0.68%
Karbon BusinessBank transfer to a Karbon virtual USD account	US bank transfers and marketplace payouts	₹1,86,262 to ₹1,86,601	₹4,65,655 to ₹4,66,503	₹9,31,311 to ₹9,33,007	1.00 to 1.18%
RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)	Local transfers from the US, UK and eurozone	₹1,86,262 to ₹1,86,601	₹4,65,655 to ₹4,66,503	₹9,31,311 to ₹9,33,007	1.00 to 1.18%
PayoneerLocal bank transfer to Payoneer receiving account details	Marketplace payouts such as Amazon or Upwork	₹1,80,947 to ₹1,86,601	₹4,52,367 to ₹4,66,503	₹9,04,734 to ₹9,33,007	1.00 to 4.00%
PayPalInternational 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 ₹8,73,908	7.27 to 8.23%

Not estimated because pricing for USD is not fully published: Wise.

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.

For example, Razorpay's MoneySaver fee is 1% plus GST on a $2,000 or $5,000 transfer, while a flat ₹1,000 fee applies below ₹1,00,000, which makes a $500 invoice proportionally dearer.²¹ Payoneer's 1% to 4% INR withdrawal fee is a percentage, so it does not shrink as the invoice grows, and Payoneer shows the rate that applies in your account.²⁹

Batching small content invoices into one monthly payment lowers the share lost to flat fees.

What documents follow each payment to a content marketing agency?

Each payment to a content marketing agency should produce a FIRA or e-FIRC from the provider or bank, an e-BRC the agency generates on the DGFT portal, an EDF and an LUT-covered invoice.¹¹⁰¹⁵³¹³⁶³⁹

Document	Best for	Who issues it and when	Source
FIRA or e-FIRC	Proof of the foreign credit and its purpose code	PayPal weekly; Payoneer per transaction with the purpose code printed; Wise per transfer	³¹³⁶³⁹
e-BRC	GST refund records	Self-generated on the DGFT portal from the bank's inward remittance message	¹⁰
EDF	Every invoice from 1 October 2026	Filed with the AD bank within 30 days from the end of the invoice month	¹
LUT	Registered agencies invoicing without IGST	FORM GST RFD-11, deemed accepted on acknowledgement	¹⁵¹⁶

See FIRC vs FIRA vs e-BRC and the export of services checklist for agencies. How the EDF works for PayPal and PA-CB receipts in practice is still unclear, so ask your bank.¹

What changes in 2026 for content marketing agencies?

For content marketing agencies, 2026 brought new export regulations, an EDF for every service export from 1 October 2026 and a return to nine-month realisation.¹²

New regulations: The 2026 Regulations replaced the 2015 export regulations from 1 October 2026.¹³
EDF: Non-software exporters, such as content agencies, may file the EDF on or before the date payment is received instead of within 30 days of the month end.¹
Realisation: Nine months from invoice, twelve months for rupee invoices.²
Aggregators: Wise was authorised as a PA-CB on 12 March 2026 and Skydo on 8 January 2026; Payoneer holds in-principle authorisation from 22 January 2026.⁵³³
Income tax: The Income-tax Act, 2025 applies from 1 April 2026.²⁰
GST Council: A recommendation of 8 October 2026 to omit condition (v) of section 2(6) is not yet law.¹⁹

Check with a CA how these changes apply to your mix of clients.

How did we verify this?

We checked this page against the sources below on 31 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.

Frequently asked questions

Is P0801 the purpose code for advertising services?+

P0801 is not the advertising code. In RBI's receipt list, P0801 is "Hardware consultancy/implementation" and P0804 is "Repair and maintenance of computer and software". Advertising is P1007, "Advertising, trade fair service", introduced with the revised codes in RBI Circular No. 84 of 29 February 2012.⁷⁸⁹

Which purpose code should a content agency use on an eBRC?+

The e-BRC is self-generated on the DGFT portal from the bank's inward remittance message, so it carries the purpose code reported on the remittance. A content agency selling marketing content usually reports P1007; set that code with PayPal, Payoneer or the bank before the first payment arrives.⁸¹⁰³¹³⁸

Do content marketing agencies charge GST to foreign clients?+

Content marketing agencies do not charge GST to foreign clients when the work is an export of services. Exports are zero-rated under section 16 of the IGST Act, and a registered agency files an LUT in FORM GST RFD-11 to invoice without IGST for the financial year.¹³¹⁵

Can a content agency use one purpose code on Payoneer for all clients?+

Payoneer applies the purpose code chosen in profile settings to every payment and prints it on each FIRA. A content agency that also sells consulting or publishing work under different codes can ask its bank how to report those receipts, because Payoneer cannot change the code on processed payments.³¹

Does Wise give content agencies an e-FIRC for each payment?+

Wise says it issues an e-FIRC for each transfer to an Indian business, emailed within 3 working days and downloadable from the transfer page. Wise's India help article says it charges the equivalent of 2 USD in the received currency for the transfer to the INR bank account, and its India receive pricing page describes the e-FIRC as free.³⁹⁴⁰

How long does a content agency have to receive payment from a foreign client?+

A content agency must realise export proceeds within nine months from the invoice date under the FEMA 2026 Regulations, or twelve months if invoiced in rupees. Under an LUT, GST becomes payable with interest if payment is not received within one year or the FEMA period, whichever is later.²¹⁴

Is ghostwriting a book for a foreign client reported under P1007?+

Ghostwriting a book may fit a different purpose code from marketing content. RBI's list has P1017, "Publishing and printing services", and P0902 for licensing of produced originals such as manuscripts. The contract decides which description fits, so confirm the code with your bank before the payment arrives.⁸⁹

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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