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PayU vs Adyen (2026): Which Is Better for Receiving International Payments in India?

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Editorial team, serviceexportguide.com
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Short answer

Neither PayU nor Adyen 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: PayU is best for card or PayPal checkout with INR settlement, and Adyen is best for large businesses with an Indian entity.123

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareNeither publishes full pricing for this case.
Bank transfer of USD 2,000Cannot compareNeither publishes full pricing for this case.
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
PayU is best forPayUCard or PayPal checkout with INR settlement.1
Adyen is best forAdyenLarge businesses with an Indian entity.23

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.

How do PayU and Adyen compare at a glance?

PayU and Adyen 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.431

PayUAdyen
Best forCard or PayPal checkout with INR settlement1Large businesses with an Indian entity23
Fees3% for international transactions under the Standard Plan, GST extra. No separate bank transfer receiving fee is published because PayU does not publish a bank transfer collection route.4Not published for Indian exporters. Adyen's global pricing page shows indicative fees: $0.13 per transaction plus Interchange++ plus 0.60% for Visa and Mastercard, and $0.13 plus 3.95% for American Express.
FX markupConverted to INR at the rate on the transaction date; PayU says it applies exchange rate or margins on the card issuing currency for dynamic currency conversion. The margin is not published.15Not published.
SettlementTypically T+2 business days for international payments.15Not published.
FIRAPayU says it provides a FIRC on request through the merchant's Key Account Manager. The cost is not published.5Not published.
CurrenciesPayU says it accepts payments in 135+ currencies and can show local prices in 27 currencies.15Not published for Indian exporters.
KYC: who can sign upPayU's account activation checklist covers individuals, sole proprietorships, partnerships, LLPs, private and public limited companies and other entity types. International payments must be enabled separately through a PayU Key Account Manager; PayU does not publish which entity types are eligible for them.67Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.83
RBI PA-CB statusThe RBI lists PayU Payments Private Limited as a Payment Aggregator (online and physical) and as PA-CB I & O, a cross-border payment aggregator facilitating inward and outward transactions, in its list dated 16 October 2026.9The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.9810
SupportExisting merchants raise a ticket at help.payu.in or email care@payu.in; new merchants are directed to their account manager or care@payu.in for international rates.1Not published for this use; Adyen's pricing page directs custom pricing and minimum invoice questions to its sales team.
LimitsPayU does not publish a limit for export receipts. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.111For its cross-border import product, Adyen restricts foreign merchants from selling goods or services priced above ₹25,00,000 per transaction. No limit is published for Indian exporters.10
How clients payInternational credit and debit cards (Visa, Mastercard, American Express) and PayPal at a PayU checkout. PayU does not publish local bank account details or virtual accounts for foreign clients to pay by bank transfer.17Not published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.
Card paymentsYes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.4Not published for foreign customers paying Indian businesses. Adyen's India compliance guide says its India rules apply to local acquiring and do not apply to cross-border payments.

How much INR do you receive on $2,000, $5,000 and $10,000 with PayU vs Adyen?

The INR you receive with PayU and Adyen 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.

None of these providers publishes both a fee and a conversion markup for USD.

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 PayU and who is it for?

PayU is an Indian payment gateway that the RBI lists as a cross-border payment aggregator for inward and outward transactions; its international payments product lets Indian merchants accept foreign cards and PayPal and settles in INR.91

  • Regulated by: The RBI lists PayU Payments Private Limited as a Payment Aggregator (online and physical) and as PA-CB I & O, a cross-border payment aggregator facilitating inward and outward transactions, in its list dated 16 October 2026.9
  • Used by: PayU's account activation checklist covers individuals, sole proprietorships, partnerships, LLPs, private and public limited companies and other entity types. International payments must be enabled separately through a PayU Key Account Manager; PayU does not publish which entity types are eligible for them.67
  • Best for: Card or PayPal checkout with INR settlement.1

What is Adyen and who is it for?

Adyen is a payments platform for enterprises; in India it is authorised by the RBI as an online payment aggregator and as a cross-border aggregator for outward (import) transactions, and it publishes no product for Indian exporters collecting from foreign customers.8910

  • Regulated by: The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.9810
  • Used by: Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.83
  • Best for: Large businesses with an Indian entity.23

How do PayU and Adyen fees and FX markup compare?

PayU and Adyen charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does PayU charge?

Transaction typeFeeFX markupGST on feesBest for
International card or PayPal transaction at PayU checkout (Standard plan)3%45Not publishedNot statedClients paying by card

What does Adyen charge?

  • Fees: Not published for Indian exporters. Adyen's global pricing page shows indicative fees: $0.13 per transaction plus Interchange++ plus 0.60% for Visa and Mastercard, and $0.13 plus 3.95% for American Express.31

How do PayU and Adyen compare on settlement speed?

PayU and Adyen publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
PayUTypically T+2 business days for international payments.15Settled automatically to the merchant's bank account in INR; PayU's documentation also mentions non-INR settlement. No separate payout fee is published for standard settlement; priority or same-day settlement may carry a nominal fee that is not published.174Card or PayPal checkout with INR settlement1
AdyenNot published.Not published.Large businesses with an Indian entity23

Do PayU and Adyen provide FIRA and e-BRC, and are they RBI PA-CB authorised?

PayU and Adyen 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.32

PlatformFIRARBI PA-CB statusBest for
PayUPayU says it provides a FIRC on request through the merchant's Key Account Manager. The cost is not published.5The RBI lists PayU Payments Private Limited as a Payment Aggregator (online and physical) and as PA-CB I & O, a cross-border payment aggregator facilitating inward and outward transactions, in its list dated 16 October 2026.9Card or PayPal checkout with INR settlement1
AdyenNot published.The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.9810Large businesses with an Indian entity23

Which currencies, countries and payment methods do PayU and Adyen support?

PayU and Adyen accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
PayUPayU says it accepts payments in 135+ currencies and can show local prices in 27 currencies.15International credit and debit cards (Visa, Mastercard, American Express) and PayPal at a PayU checkout. PayU does not publish local bank account details or virtual accounts for foreign clients to pay by bank transfer.17Yes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.4Card or PayPal checkout with INR settlement1
AdyenNot published for Indian exporters.Not published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.Not published for foreign customers paying Indian businesses. Adyen's India compliance guide says its India rules apply to local acquiring and do not apply to cross-border payments.Large businesses with an Indian entity23

What are the strengths and limitations of PayU and Adyen?

PayU and Adyen each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of PayU?

Strengths:

  • Your foreign clients prefer to pay by international card or PayPal on a checkout page and you want INR settlement.1
  • You want a provider listed by the RBI as a cross-border payment aggregator for inward transactions.9
  • You already use PayU for domestic payments and want international payments enabled on the same integration.7

Limitations:

  • No bank transfer collection route (local account details for foreign clients) is published; the international product is card and wallet based.17
  • The exchange margin on conversion to INR is not published.5
  • International payments must be enabled through a Key Account Manager, and the FIRC is also requested through the account manager.75
  • PA-CB export transactions are limited to ₹25 lakh each under RBI rules.11
  • Priority settlement fees and the conditions behind the Standard Plan's terms and conditions note are not published.4

What are the strengths and limitations of Adyen?

Strengths:

  • You are a large business with an Indian entity that needs domestic card, UPI and online banking acceptance in India on one platform.23
  • You are a foreign merchant selling to Indian buyers through Adyen's cross-border import product.10

Limitations:

  • Adyen's RBI cross-border authorisation is for outward (import) transactions, not inward export receipts.910
  • Adyen publishes no product, fee, FIRA or purpose code process for Indian service exporters collecting from foreign customers.8313
  • Pricing shown is global and indicative, and a minimum invoice may apply depending on industry or business model.31
  • Adyen positions itself for enterprises; eligibility for freelancers or small agencies is not published.8

Should you choose PayU or Adyen?

Choose between PayU and Adyen by how your clients pay and your usual invoice size.

Choose PayU if:

  • Your foreign clients prefer to pay by international card or PayPal on a checkout page and you want INR settlement.1
  • You want a provider listed by the RBI as a cross-border payment aggregator for inward transactions.9
  • You already use PayU for domestic payments and want international payments enabled on the same integration.7

Choose Adyen if:

  • You are a large business with an Indian entity that needs domestic card, UPI and online banking acceptance in India on one platform.23
  • You are a foreign merchant selling to Indian buyers through Adyen's cross-border import product.10

For example, say a designer invoices a US client USD 2,000. Because neither provider 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.1531

Which other platforms should you consider besides PayU and Adyen?

Other platforms to consider besides PayU and Adyen are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.1314151617182021232426282930

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets120.68%131415161718Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.1719Skydo review
Karbon BusinessUS bank transfers and marketplace payouts201.00 to 1.18%2021Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.20Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone221.00 to 1.18%2324Razorpay 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.222524Razorpay review
WinvestaLocal transfers with a published per-payment fee26271.24%26282930Free 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.2928Winvesta 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]PayU India, International Payment Gateway (checked 2026-10-28)
  2. [2]Adyen press release, Adyen expands to India, 15 August 2024 (checked 2026-10-28)
  3. [3]Adyen Docs, Payments India compliance guide (checked 2026-10-28)
  4. [4]PayU India, Pricing (checked 2026-10-28)
  5. [5]PayU Docs, FAQs: International Payments and Dynamic Currency Conversion (checked 2026-10-28)
  6. [6]PayU Docs, Documents Checklist for Account Activation (checked 2026-10-28)
  7. [7]PayU Docs, PayU India International Payments (checked 2026-10-28)
  8. [8]Adyen India, home page (checked 2026-10-28)
  9. [9]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), list dated 16 October 2026 (checked 2026-10-28)
  10. [10]Adyen, India merchant onboarding policy overview, version 1.5, 9 June 2026 (checked 2026-10-28)
  11. [11]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025
  12. [12]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  13. [13]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  14. [14]Skydo, Home page (checked 2026-10-28)
  15. [15]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  16. [16]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  17. [17]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  18. [18]Skydo, Terms of use (checked 2026-10-28)
  19. [19]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  20. [20]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  21. [21]Karbon, PayPal alternative (checked 2026-10-28)
  22. [22]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  23. [23]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  24. [24]Razorpay, Pricing (checked 2026-10-28)
  25. [25]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  26. [26]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  27. [27]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  28. [28]Winvesta, Multi-currency account (checked 2026-10-28)
  29. [29]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  30. [30]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  31. [31]Adyen, Pricing (global page, checked 2026-10-28)
  32. [32]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  33. [33]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, PayU or Adyen?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.1531 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do PayU and Adyen give a FIRA to Indian exporters?+

PayU: PayU says it provides a FIRC on request through the merchant's Key Account Manager. The cost is not published.5 Adyen: Not published.

Can individual freelancers use PayU and Adyen?+

PayU: PayU's account activation checklist covers individuals, sole proprietorships, partnerships, LLPs, private and public limited companies and other entity types. International payments must be enabled separately through a PayU Key Account Manager; PayU does not publish which entity types are eligible for them.67 Adyen: Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.83

Are PayU and Adyen authorised by the RBI?+

PayU: The RBI lists PayU Payments Private Limited as a Payment Aggregator (online and physical) and as PA-CB I & O, a cross-border payment aggregator facilitating inward and outward transactions, in its list dated 16 October 2026.9 Adyen: The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.9810

How fast do PayU and Adyen pay out to an Indian bank?+

PayU: Typically T+2 business days for international payments.15 Adyen: Not published.31

Do I still need an LUT if I am paid through PayU or Adyen?+

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 PayU, Adyen or a bank wire.33

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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