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PayPal, Wise, Payoneer or Stripe: The Best Tools for Receiving USD Payments in India

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Editorial team, serviceexportguide.com
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Short answer

Stripe India lists 3% for foreign Visa and Mastercard cards, plus 2% if conversion is needed.1 PayPal lists 4.40% plus a fixed fee per international commercial payment.2 Payoneer charges 1% to 4% to withdraw USD to INR.3 Wise was authorised by RBI as a PA-CB on 12 March 2026.4 Each PA-CB payment is capped at ₹25 lakh.5

Applies toRules involvedPlatforms comparedLast verified
Indian freelancers, agencies and companies paid in USD for services6FEMA 2026 Regulations, PA Master Direction (₹25 lakh cap), Circular No. 84 purpose codes758Skydo, Razorpay, Karbon Business, Payoneer, PayPal, Stripe, Wise431 October 2026

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%
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.

Receiving US dollars in India comes down to how your client pays: bank transfer to US account details, card checkout, PayPal balance, or a marketplace payout. PayPal, Wise, Payoneer and Stripe each fit a different one of these, and each sits differently under RBI's rules.26111813

This page compares the tools on published fees and RBI status. The USD payments guide covers the currency in more depth. Confirm your position with a chartered accountant (CA).

How do PayPal, Wise, Payoneer and Stripe compare for receiving USD in India?

PayPal, Wise, Payoneer and Stripe compare most clearly by payment method: Stripe and PayPal take card or wallet payments, Wise takes bank transfers to local details, and Payoneer suits marketplace payouts.13261118 The table adds the three lowest-cost USD providers on published fees, ordered by estimated cost on a $5,000 receipt, cheapest first, then providers without full published pricing A to Z.2728

PlatformBest forFeeFX markupSettlementFIRARBI PA-CB statusSource
SkydoLocal bank transfers from major markets9USD 19 up to USD 2,000, USD 29 from USD 2,001 to USD 10,000, 0.3% above, plus GST270% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)2243Within 24 hours (product page); T+1 to T+3 business days (terms)2243Free FIRA on every payment22PA-CB inward and outward, authorised 8 January 20264Skydo2722
RazorpayLocal transfers from the US, UK and eurozone101% plus GST on bank transfers, flat ₹1,000 below ₹1,00,000; cards up to 3% plus GST28290% on bank transfers, per Razorpay28T+1 for bank transfers10Foreign Inward Remittance Statement within 24 hours of settlement10PA-CB inward and outward4Razorpay2829
Karbon BusinessUS bank transfers and marketplace payouts301% transaction fee310% (freelancer page); 0.5% to 1.0% (PayPal alternative page)303124 to 48 hours30FIRA for every transaction from a partner bank30Not on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB324Karbon3031
PayoneerMarketplace payouts such as Amazon or Upwork18Free to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page); 1% to 4% to withdraw to INR123Not published separately3Within 24 hours (multi-currency account page); within 48 hours (pricing page)123Free digital FIRA per transaction23In-principle PA-CB authorisation, 22 January 20263316Payoneer323
PayPalClients paying by card or PayPal balance264.40% plus a fixed fee such as 0.30 USD23.0% or 4.00% above the base exchange rate2Up to 5 business days to the bank20Free weekly digital FIRA from February 202624In-principle PA-CB authorisation in RBI's status list16PayPal224
StripeCard checkout and subscriptions133% Visa or Mastercard issued abroad, 3.5% American Express, 4.3% for non-INR presentment134Additional 2% if conversion is required1Daily payouts include card payments from five business days earlier21Standard Chartered payment advice; FIRC from your own bank25Online PA only; PA-CB application withdrawn; cross-border by invite41617Stripe125
WiseBank transfers to local account details11Equivalent of 2 USD per transfer to the INR account (help article); free e-FIRC (receive pricing page); 18% GST on fees1119Conversion fee depends on the currency; no INR percentage published191 to 2 days after pay-in11e-FIRC for each transfer within 3 working days11PA-CB inward, authorised 12 March 20264Wise1119

Payoneer vs Stripe and PayPal vs Stripe compare two common pairs.

Which RBI rule governs USD received for services?

USD received for services is governed by the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (the 2026 Regulations), in force from 1 October 2026.7 Tools that collect the money first fall under RBI's Payment Aggregator Master Direction.5

RuleBest for (who it applies to)Plain meaningSource
2026 Regulations, regulations 3 and 4Every service exporterFile the Export Declaration Form (EDF) within 30 days from the end of the invoice month, or for non-software services by the payment date7RBI7
2026 Regulations, regulation 5, as amendedAnyone with an open USD invoiceRealise within nine months; twelve months for rupee invoices14RBI14
PA Master Direction, paragraph 11(d)Exporters paid through a PA-CB₹25 lakh limit per transaction5RBI5
A.P. (DIR Series) Circular No. 84 of 2012Every inward paymentPurpose code of P plus four digits8RBI8
IGST Act, section 2(6)GST-registered exportersFive conditions for an export of services6CBIC6

Stripe and PayPal fix one purpose code per account at setup, so choose it to match your main service.1335

What does each tool charge by payment method?

Each tool charges differently for bank transfers, cards and PayPal balances. The table lists the published rates for each method.

PlatformBest forBank transferCardSource
SkydoLocal bank transfers from major markets9Fixed USD slab plus GST27No card fee published36Skydo27
RazorpayLocal transfers from the US, UK and eurozone101% plus GST28Up to 3% plus 18% GST29Razorpay29
Karbon BusinessUS bank transfers and marketplace payouts301%31Not published30Karbon31
PayoneerMarketplace payouts such as Amazon or Upwork18Free to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page); 1% to 4% to withdraw1232.90% plus $0.49 by payment request3Payoneer3
PayPalClients paying by card or PayPal balance26Not a bank transfer route4.40% plus fixed fee, one rate for international commercial payments2PayPal2
StripeCard checkout and subscriptions13Not published as a route3% to 4.3%, plus 2% if converted; 18% GST on fees137Stripe137
WiseBank transfers to local account details112 USD equivalent per transfer (help article); free e-FIRC (receive pricing page)1119Not offered to India-based businesses38Wise1138

Which option is cheapest at $500, $2,000 and $5,000?

The cheapest USD tool depends on invoice size and method: fixed fees dominate at $500, while percentage fees dominate at $5,000.2728 The table below works out INR received from published fees 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%
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 ₹9,33,0071.00 to 1.18%
PayoneerLocal 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%
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 ₹8,73,9087.27 to 8.23%

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

  • At $500: Wise's 2 USD equivalent (India help article; its India receive pricing page describes a free e-FIRC) with GST is about 0.47% before conversion; Skydo's USD 19 with GST is about 4.48%.112719
  • At $2,000: Skydo is about 1.12% with GST and Razorpay 1.18%.2728
  • At $5,000: Skydo is about 0.68% with GST; a Stripe card charge in USD costs 4.3% plus 2% if converted.271

For example, a Chennai SaaS founder charging a US customer $2,000 by card pays Stripe 4.3% for USD presentment plus 2% if conversion applies, while an agency client paying the same amount by bank transfer through Razorpay costs 1.18% including GST.128

What documents do you get from each USD tool?

Each USD tool issues a different proof of receipt, and that document supports your e-BRC and GST records.39

DocumentBest forIssued bySource
FIRASkydo usersSkydo, free per payment22Skydo
Foreign Inward Remittance StatementRazorpay usersRazorpay, within 24 hours of settlement10Razorpay
Digital FIRAPayoneer usersPartner AD bank, per transaction23Payoneer
Weekly digital FIRAPayPal business accountsPayPal, from February 202624PayPal
Payment adviceStripe usersStandard Chartered Bank, taken to your bank for a FIRC25Stripe
e-FIRCWise Business usersWise, within 3 working days11Wise
e-BRCEvery exporterSelf-certified on DGFT39DGFT

A GST-registered exporter files a Letter of Undertaking in FORM GST RFD-11 each financial year to invoice without IGST.40 See the best international payment platforms for exporters.

What changes in 2026 for receiving USD in India?

Receiving USD in India is affected by the 2026 Regulations, the EDF for every service export, the nine-month realisation period and new provider authorisations.7144

  • New regulations: In force from 1 October 2026.7
  • EDF: Every service exporter files an EDF from 1 October 2026; Circular No. 20 supersedes the SOFTEX circulars from that date.741
  • Realisation: Nine months from the invoice date; twelve months for rupee invoices.14
  • Authorisations: Skydo was authorised on 8 January 2026 and Wise on 12 March 2026; Payoneer received in-principle authorisation on 22 January 2026.433
  • Income tax: The Income-tax Act, 2025 applies from 1 April 2026.42

The platform cost comparison recalculates every tool at today's rate.

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.

  1. [1]Stripe India, Pricing (checked 2026-10-28)
  2. [2]PayPal India, PayPal Merchant Fees (page last updated 28 March 2024) (checked 2026-10-28)
  3. [3]Payoneer India, Payoneer Fees (checked 2026-10-28)
  4. [4]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list dated 16 October 2026 (checked 2026-10-28)
  5. [5]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025, paragraph 11(d)
  6. [6]CBIC: IGST Act, 2017, section 2(6) (export of services)
  7. [7]RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB, amended up to 22 September 2026 (regulations 3, 4, 5, 13 and 19)
  8. [8]RBI: A.P. (DIR Series) Circular No. 84 dated 29 February 2012, Compilation of R-Returns: Reporting under FETERS (purpose codes)
  9. [9]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  10. [10]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  11. [11]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  12. [12]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  13. [13]Stripe Docs, Accept international payments from India (checked 2026-10-28)
  14. [14]RBI: FEMA (Export and Import of Goods and Services) (Amendment) Regulations, 2026, Notification No. FEMA 23(R)/(1)/2026-RB dated 22 September 2026 (regulation 5: nine months, twelve months for rupee invoices)
  15. [15]Stripe Support, Accepting international payments from Stripe accounts in India (checked 2026-10-28)
  16. [16]RBI: Status of Applications received under the Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  17. [17]Stripe Support, Cross-border payment services in India (checked 2026-10-28)
  18. [18]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  19. [19]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  20. [20]PayPal India Help, How do I transfer funds to my bank account? (checked 2026-10-28)
  21. [21]Stripe Support, Payout schedule for Stripe accounts in India (checked 2026-10-28)
  22. [22]Skydo, Receive international payments as a freelancer in India (product page) (checked 2026-10-28)
  23. [23]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  24. [24]PayPal India, Foreign Inward Remittance Advise (FIRA) (checked 2026-10-28)
  25. [25]Stripe Support, FIRC/payment advice for international transactions in India (checked 2026-10-28)
  26. [26]PayPal India, User Agreement for PayPal Services (last updated 13 January 2025) (checked 2026-10-28)
  27. [27]Skydo FAQs, How much does Skydo charge? (checked 2026-10-28)
  28. [28]Razorpay, Multi-Currency Account for International Bank Transfers (MoneySaver Export Account pricing) (checked 2026-10-28)
  29. [29]Razorpay, Pricing, International Payments and International Bank Transfers tabs (checked 2026-10-28)
  30. [30]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  31. [31]Karbon Business, PayPal Alternative comparison page (checked 2026-10-28)
  32. [32]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  33. [33]Payoneer press release, Payoneer receives in-principle authorization as Cross-Border Payment Aggregator in India, 22 January 2026
  34. [34]Stripe Support, Additional pricing information for Indian cross-border sellers (checked 2026-10-28)
  35. [35]PayPal India Help, What is the Purpose Code? (checked 2026-10-28)
  36. [36]Skydo FAQs, What are the fees for using Payment Links? (checked 2026-10-28)
  37. [37]Stripe Support, Taxes on Stripe fees for India-based businesses (checked 2026-10-28)
  38. [38]Wise Help Centre, Getting paid to your Wise Business by card, Apple Pay or Google Pay (checked 2026-10-28)
  39. [39]DGFT: eBRC services page (IRM data from banks; Trade Notice 33/2023-24 dated 10 November 2023)
  40. [40]GST portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)
  41. [41]RBI: A.P. (DIR Series) Circular No. 20 dated 16 January 2026 (supersedes the SOFTEX circulars from 1 October 2026)
  42. [42]PIB: Income-tax Act, 2025 comes into force from 1 April 2026
  43. [43]Skydo, Terms of Use, last updated 9 April 2026 (checked 2026-10-28)

Frequently asked questions

What tools can I use to receive USD payments in India?+

Indian exporters receive USD through account-detail providers such as Skydo, Razorpay, Wise and Payoneer, through PayPal, and through card processors such as Stripe.9101112213 Each converts to rupees for your Indian bank, and the export must be realised within nine months.14

Can I use Stripe in India to receive USD from foreign clients?+

Stripe says Indian businesses join by invite only, and international payments are open to sole proprietorships, LLPs and companies, not individuals.1315 RBI lists Stripe India as an online payment aggregator, and its cross-border application is shown as withdrawn.416 Stripe says it continues cross-border services for Indian businesses on an invite-only basis.17

Is Payoneer or Wise better for USD payments in India?+

Payoneer suits marketplace payouts and charges 1% to 4% to withdraw to INR.183 Wise suits bank transfers to local details and charges a 2 USD equivalent per transfer (India help article; its India receive pricing page describes a free e-FIRC) plus an unpublished INR conversion fee.1119 The better fit depends on how your clients pay.

Can I keep USD in India instead of converting to rupees?+

Wise converts each payment to INR automatically, and Indian Wise users cannot hold the foreign currency.11 A resident exporter who wants to hold dollars can ask the bank about an EEFC account; read [can I keep USD in India](/answers/can-i-keep-usd-in-india-instead-of-converting) for how that works with export proceeds.

How fast do USD payments reach my Indian bank account?+

Published timelines differ: Razorpay T+1 for bank transfers, Wise 1 to 2 days after pay-in, Payoneer 24 hours (multi-currency account page) or 48 hours (pricing page), PayPal up to 5 business days, and Stripe pays out card payments processed five business days earlier.123 Stripe makes no payouts on weekends or public holidays.10111232021

Which USD tool gives a FIRA for GST and bank records?+

Skydo, Payoneer and Wise publish a free FIRA or e-FIRC per payment (Wise's on its India receive pricing page; its India help article gives a 2 USD equivalent fee per transfer to the INR account), PayPal a free weekly digital FIRA, and Razorpay a Foreign Inward Remittance Statement.222319241011 Stripe sends a Standard Chartered payment advice that you take to your bank for a FIRC.25

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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