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

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Short answer

Neither PayU nor Dodo 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: PayU is best for card or PayPal checkout with INR settlement, and Dodo Payments is best for software and digital product sellers.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
Dodo Payments is best forDodo PaymentsSoftware and digital product sellers.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 Dodo Payments compare at a glance?

PayU and Dodo 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.45

PayUDodo Payments
Best forCard or PayPal checkout with INR settlement1Software and digital product sellers23
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.44% + 40c per transaction for US cards and wallets, +1.5% for cards and payment methods outside the US, 4% + 15c for Indian cards and UPI (plus international fees where applicable), +0.5% for subscriptions, 1.5% capped at $15 or EUR 15 for ACH or SEPA direct debit.5
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.16Adaptive Currency costs the business 0%; Dodo says buyers pay a 2 to 4% FX fee. Standard foreign exchange rates apply on non-USD settlements, with no rate published. If the receiving bank account is in another currency, the bank converts on arrival at its own rate.57
SettlementTypically T+2 business days for international payments.16Dodo's FAQ says funds typically reach the bank 1 to 2 business days after a payout is initiated, and elsewhere 1 to 5 business days. Its Master Service Agreement says the supplier fee is paid on or before the 20th of the following month.82
FIRAPayU says it provides a FIRC on request through the merchant's Key Account Manager. The cost is not published.6Dodo's blog says a FIRA is available on request to support@dodopayments.com and that Dodo routes payouts through its payment partner and shares the FIRA once generated. Its documentation and terms do not mention FIRA. Cost not published.97
CurrenciesPayU says it accepts payments in 135+ currencies and can show local prices in 27 currencies.16Dodo says buyers can pay in 80+ currencies through Adaptive Currency. Payout balances are held in USD, GBP and EUR wallets; INR payouts have been discontinued.57
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.1011Individuals (no registered business needed; PAN mandatory for Indians) and registered entities, including sole proprietors with a GSTIN. Dodo says it does not support physical goods or e-commerce websites.8
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 2026.12Dodo Payments acts as merchant of record under a Master Service Agreement with Dodo Payments Inc. and its group companies (Dodope Payments Limited and Sarvapanchhi Technologies Private Limited). None of these entities appears in the RBI's list of authorised payment aggregators dated 16 October 2026, and Dodo does not publish an RBI authorisation.212
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.1Email support@dodopayments.com.9
LimitsPayU does not publish a limit for export receipts. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.113Not published. Payout threshold is $100 by default and can be lowered to $50.
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.111Buyers pay Dodo at its checkout or through Dodo invoicing: cards, Apple Pay, Google Pay and other wallets, BNPL, PayPal, ACH and SEPA direct debit, and in India UPI and Indian cards. The business may not invoice buyers itself.52
Card paymentsYes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.4Yes. Buyers pay by card at Dodo's checkout; the fee is 4% + 40c, plus 1.5% for cards issued outside the US.5

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

The INR you receive with PayU and Dodo 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.

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

Not estimated because pricing for USD is not fully published: Dodo 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 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.121

  • 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 2026.12
  • 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.1011
  • Best for: Card or PayPal checkout with INR settlement.1

What is Dodo Payments and who is it for?

Dodo Payments is a merchant of record: it resells a business's digital product to buyers as the legal seller, handles customer-side sales tax and chargebacks, and pays the business a supplier fee in USD, GBP or EUR.237

  • Regulated by: Dodo Payments acts as merchant of record under a Master Service Agreement with Dodo Payments Inc. and its group companies (Dodope Payments Limited and Sarvapanchhi Technologies Private Limited). None of these entities appears in the RBI's list of authorised payment aggregators dated 16 October 2026, and Dodo does not publish an RBI authorisation.212
  • Used by: Individuals (no registered business needed; PAN mandatory for Indians) and registered entities, including sole proprietors with a GSTIN. Dodo says it does not support physical goods or e-commerce websites.8
  • Best for: Software and digital product sellers.23

How do PayU and Dodo Payments fees and FX markup compare?

PayU and Dodo Payments 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%46Not publishedNot statedClients paying by card

What does Dodo Payments charge?

Transaction typeFeeFX markupGST on feesBest for
One-time payment by US card or wallet at Dodo checkout4% + USD 0.457Not publishedNot statedClients paying by card
One-time payment by card or other payment method outside the US5.5% + USD 0.457Not publishedNot statedClients paying by card
One-time payment by ACH (USD) or SEPA (EUR) direct debit1.5%57Not publishedNot statedClients paying through a payment link

How do PayU and Dodo Payments compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
PayUTypically T+2 business days for international payments.16Settled 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.1114Card or PayPal checkout with INR settlement1
Dodo PaymentsDodo's FAQ says funds typically reach the bank 1 to 2 business days after a payout is initiated, and elsewhere 1 to 5 business days. Its Master Service Agreement says the supplier fee is paid on or before the 20th of the following month.82Dodo pays out from USD, GBP or EUR wallets on a schedule (bi-monthly by default) once the balance reaches the threshold ($100 default, $50 minimum). Payout fee is $5 for payouts below $1,000 under standard pricing; USD SWIFT payouts for non-US businesses cost $25. Correspondent and receiving bank charges may also be deducted. Dodo's pricing table separately lists regular payouts as free.75Software and digital product sellers23

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

PayU and Dodo 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.33

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.6The 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 2026.12Card or PayPal checkout with INR settlement1
Dodo PaymentsDodo's blog says a FIRA is available on request to support@dodopayments.com and that Dodo routes payouts through its payment partner and shares the FIRA once generated. Its documentation and terms do not mention FIRA. Cost not published.97Dodo Payments acts as merchant of record under a Master Service Agreement with Dodo Payments Inc. and its group companies (Dodope Payments Limited and Sarvapanchhi Technologies Private Limited). None of these entities appears in the RBI's list of authorised payment aggregators dated 16 October 2026, and Dodo does not publish an RBI authorisation.212Software and digital product sellers23

Which currencies, countries and payment methods do PayU and Dodo Payments support?

PayU and Dodo Payments 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.16International 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.111Yes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.4Card or PayPal checkout with INR settlement1
Dodo PaymentsDodo says buyers can pay in 80+ currencies through Adaptive Currency. Payout balances are held in USD, GBP and EUR wallets; INR payouts have been discontinued.57Buyers pay Dodo at its checkout or through Dodo invoicing: cards, Apple Pay, Google Pay and other wallets, BNPL, PayPal, ACH and SEPA direct debit, and in India UPI and Indian cards. The business may not invoice buyers itself.52Yes. Buyers pay by card at Dodo's checkout; the fee is 4% + 40c, plus 1.5% for cards issued outside the US.5Software and digital product sellers23

What are the strengths and limitations of PayU and Dodo Payments?

PayU and Dodo Payments 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.12
  • You already use PayU for domestic payments and want international payments enabled on the same integration.11

Limitations:

  • No bank transfer collection route (local account details for foreign clients) is published; the international product is card and wallet based.111
  • The exchange margin on conversion to INR is not published.6
  • International payments must be enabled through a Key Account Manager, and the FIRC is also requested through the account manager.116
  • PA-CB export transactions are limited to ₹25 lakh each under RBI rules.13
  • 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 Dodo Payments?

Strengths:

  • You sell software, SaaS subscriptions or digital products to buyers in many countries and want another company to be the legal seller and handle sales tax, VAT and chargebacks.32
  • You are an individual without a registered business and hold a PAN.8
  • You are comfortable receiving payouts in USD, GBP or EUR on a fixed cycle rather than per payment.7

Limitations:

  • Not listed by the RBI as an authorised payment aggregator; Dodo does not publish an RBI authorisation.122
  • INR payouts have been discontinued; payouts go from USD, GBP or EUR wallets and any conversion happens at your bank.7
  • Does not support physical goods or e-commerce websites, and the business may not invoice buyers itself.82
  • FIRA availability is described only in a blog post and is on request; purpose code handling is not published.97
  • Dodo's own pages disagree on payout fees (free in the pricing table, $5 below $1,000 in the FAQ and documentation) and on payout timing.5782
  • Dodo cannot file the Export Declaration Form for the business.9

Should you choose PayU or Dodo Payments?

Choose between PayU and Dodo Payments 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.12
  • You already use PayU for domestic payments and want international payments enabled on the same integration.11

Choose Dodo Payments if:

  • You sell software, SaaS subscriptions or digital products to buyers in many countries and want another company to be the legal seller and handle sales tax, VAT and chargebacks.32
  • You are an individual without a registered business and hold a PAN.8
  • You are comfortable receiving payouts in USD, GBP or EUR on a fixed cycle rather than per payment.7

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.1657

Which other platforms should you consider besides PayU and Dodo Payments?

Other platforms to consider besides PayU and Dodo Payments are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.1516171819202223252628303132

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets140.68%151617181920Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.1921Skydo review
Karbon BusinessUS bank transfers and marketplace payouts221.00 to 1.18%2223Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.22Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone241.00 to 1.18%2526Razorpay 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.242726Razorpay review
WinvestaLocal transfers with a published per-payment fee28291.24%28303132Free 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.3130Winvesta 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]Dodo Payments, Master Service Agreement, last updated 26 February 2026 (checked 2026-10-28)
  3. [3]Dodo Payments, Merchant of Record for Global SaaS (checked 2026-10-28)
  4. [4]PayU India, Pricing (checked 2026-10-28)
  5. [5]Dodo Payments, Pricing (checked 2026-10-28)
  6. [6]PayU Docs, FAQs: International Payments and Dynamic Currency Conversion (checked 2026-10-28)
  7. [7]Dodo Payments Documentation, Payouts Process (checked 2026-10-28)
  8. [8]Dodo Payments Documentation, FAQs (checked 2026-10-28)
  9. [9]Dodo Payments blog, Export Declaration Form (EDF): What Indian Service Exporters Need to Know, 12 October 2026 (checked 2026-10-28)
  10. [10]PayU Docs, Documents Checklist for Account Activation (checked 2026-10-28)
  11. [11]PayU Docs, PayU India International Payments (checked 2026-10-28)
  12. [12]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)
  13. [13]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025
  14. [14]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  15. [15]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  16. [16]Skydo, Home page (checked 2026-10-28)
  17. [17]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  18. [18]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  19. [19]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  20. [20]Skydo, Terms of use (checked 2026-10-28)
  21. [21]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  22. [22]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  23. [23]Karbon, PayPal alternative (checked 2026-10-28)
  24. [24]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  25. [25]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  26. [26]Razorpay, Pricing (checked 2026-10-28)
  27. [27]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  28. [28]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  29. [29]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  30. [30]Winvesta, Multi-currency account (checked 2026-10-28)
  31. [31]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  32. [32]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  33. [33]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  34. [34]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, PayU or Dodo Payments?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.1657 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 Dodo Payments 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.6 Dodo Payments: Dodo's blog says a FIRA is available on request to support@dodopayments.com and that Dodo routes payouts through its payment partner and shares the FIRA once generated. Its documentation and terms do not mention FIRA. Cost not published.97

Can individual freelancers use PayU and Dodo Payments?+

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.1011 Dodo Payments: Individuals (no registered business needed; PAN mandatory for Indians) and registered entities, including sole proprietors with a GSTIN. Dodo says it does not support physical goods or e-commerce websites.8

Are PayU and Dodo Payments 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 2026.12 Dodo Payments: Dodo Payments acts as merchant of record under a Master Service Agreement with Dodo Payments Inc. and its group companies (Dodope Payments Limited and Sarvapanchhi Technologies Private Limited). None of these entities appears in the RBI's list of authorised payment aggregators dated 16 October 2026, and Dodo does not publish an RBI authorisation.212

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

PayU: Typically T+2 business days for international payments.16 Dodo Payments: Dodo's FAQ says funds typically reach the bank 1 to 2 business days after a payout is initiated, and elsewhere 1 to 5 business days. Its Master Service Agreement says the supplier fee is paid on or before the 20th of the following month.82

Do I still need an LUT if I am paid through PayU or Dodo 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 PayU, Dodo Payments or a bank wire.34

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.