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

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Editorial team, serviceexportguide.com
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Short answer

PayU 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 Skydo is best for local bank transfers from major markets.89

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareSkydo costs about 0.68%; PayU does not publish full pricing.123456
Bank transfer of USD 2,000Cannot compareSkydo costs about 1.12%; PayU does not publish full pricing.123456
Client paying USD 2,000 by card or linkCannot compareSkydo costs about 2.00 to 2.36%; PayU does not publish full pricing.2756
PayU is best forPayUCard or PayPal checkout with INR settlement.8
Skydo is best forSkydoLocal bank transfers from major markets.9

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%
4SkydoThis pagePayment 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 Skydo compare at a glance?

PayU and Skydo 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.1012

PayUSkydo
Best forCard or PayPal checkout with INR settlement8Local bank transfers from major markets9
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.10Skydo says it charges USD 19 plus GST for transactions up to USD 2,000, USD 29 plus GST from USD 2,001 to USD 10,000, and 0.3% plus GST above USD 10,000; payments above USD 100K a month are priced on request.12
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.811Skydo's product page says conversion is at a live mid-market rate with 0% markup. Its terms say conversion uses a retail foreign exchange rate determined by Skydo or its partner banks and do not guarantee the most favourable rate.56
SettlementTypically T+2 business days for international payments.811Skydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.5612
FIRAPayU says it provides a FIRC on request through the merchant's Key Account Manager. The cost is not published.11Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513
CurrenciesPayU says it accepts payments in 135+ currencies and can show local prices in 27 currencies.811Local accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.914
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.1516Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65
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 2026.17Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.186
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.8Skydo publishes support@skydo.com and phone 7026000500.4
LimitsPayU does not publish a limit for export receipts. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.819Skydo says the minimum transaction is USD 50 and there is no upper limit on the amount you can receive. The RBI Master Direction caps each PA-CB inward or outward transaction at ₹25 lakh; Skydo's pages do not explain how this applies to its account transfers.419
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.816Bank transfer to Skydo local account details in seven markets, or to an international SWIFT account for other currencies and countries; Skydo also offers payment links (InstaLinks) with ACH Debit.92076
Card paymentsYes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.10Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.

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

The INR you receive with PayU and Skydo 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
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%

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.178

  • 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 2026.17
  • 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.1516
  • Best for: Card or PayPal checkout with INR settlement.8

What is Skydo and who is it for?

Skydo is a Bengaluru-based payment aggregator, listed by the RBI as a PA-CB for inward and outward transactions, that gives Indian exporters local and SWIFT account details abroad and pays out in INR to their Indian bank.1869

  • Regulated by: Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.186
  • Used by: Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65
  • Best for: Local bank transfers from major markets.9

How do PayU and Skydo fees and FX markup compare?

PayU and Skydo 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%1011Not publishedNot statedClients paying by card

What does Skydo charge?

Transaction typeFeeFX markupGST on feesBest for
Transfer to Skydo local account details or international SWIFT accountUSD 19 up to USD 2,000; USD 29 up to USD 10,000; 0.3% above that1234560%18%Clients paying by local bank transfer
Payment link (InstaLinks) paid by ACH debit2% + minimum USD 927560%Not statedClients paying through a payment link

How do PayU and Skydo compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
PayUTypically T+2 business days for international payments.811Settled 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.81610Card or PayPal checkout with INR settlement8
SkydoSkydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.5612Converted to INR and credited to the user's Indian bank account; Skydo says there is no additional SWIFT fee for the transfer to India apart from its own fee.35Local bank transfers from major markets9

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

PayU and Skydo 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.37

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.11The 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 2026.17Card or PayPal checkout with INR settlement8
SkydoSkydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.186Local bank transfers from major markets9

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

PayU and Skydo 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.811International 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.816Yes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.10Card or PayPal checkout with INR settlement8
SkydoLocal accounts in USD, GBP, AED, CAD, EUR, AUD and SGD; Skydo says its SWIFT account supports 32 currencies, listed only in an image.914Bank transfer to Skydo local account details in seven markets, or to an international SWIFT account for other currencies and countries; Skydo also offers payment links (InstaLinks) with ACH Debit.92076Not published. Skydo publishes InstaLinks fees for ACH Debit only (2% per transaction, minimum $9) and no card fee.Local bank transfers from major markets9

What are the strengths and limitations of PayU and Skydo?

PayU and Skydo 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.8
  • You want a provider listed by the RBI as a cross-border payment aggregator for inward transactions.17
  • You already use PayU for domestic payments and want international payments enabled on the same integration.16

Limitations:

  • No bank transfer collection route (local account details for foreign clients) is published; the international product is card and wallet based.816
  • The exchange margin on conversion to INR is not published.11
  • International payments must be enabled through a Key Account Manager, and the FIRC is also requested through the account manager.1611
  • PA-CB export transactions are limited to ₹25 lakh each under RBI rules.19
  • Priority settlement fees and the conditions behind the Standard Plan's terms and conditions note are not published.10

What are the strengths and limitations of Skydo?

Strengths:

  • Your clients are in the US, UK, UAE, Canada, Europe, Australia or Singapore and can pay by local bank transfer in their own currency.9
  • Your invoices are large enough that a flat USD 19 or USD 29 fee is a small share of the amount; Skydo itself says invoices under $1,000 carry a higher effective rate.15
  • You want a FIRA issued for each payment by an RBI-authorised PA-CB.518

Limitations:

  • Payments below USD 50 cannot be processed, and the flat fee weighs more on small invoices.45
  • Skydo says it does not accept payments from 15 countries, but lists them only in an image.38
  • No card payment option or card fee is published.7
  • Skydo's pages give different settlement times (within 24 hours on its product page, T+1 to T+3 business days in its terms) and describe its FX rate differently (0% markup on its product page, a retail rate set by Skydo or its partner banks in its terms).56
  • Skydo's terms limit the service to business and commercial payments, so it does not cover personal remittances.6

Should you choose PayU or Skydo?

Choose between PayU and Skydo 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.8
  • You want a provider listed by the RBI as a cross-border payment aggregator for inward transactions.17
  • You already use PayU for domestic payments and want international payments enabled on the same integration.16

Choose Skydo if:

  • Your clients are in the US, UK, UAE, Canada, Europe, Australia or Singapore and can pay by local bank transfer in their own currency.9
  • Your invoices are large enough that a flat USD 19 or USD 29 fee is a small share of the amount; Skydo itself says invoices under $1,000 carry a higher effective rate.15
  • You want a FIRA issued for each payment by an RBI-authorised PA-CB.518

For example, say a designer invoices a US client USD 2,000. Because PayU 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.81156

Which other platforms should you consider besides PayU and Skydo?

Other platforms to consider besides PayU and Skydo are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2122242527293031333435

PlatformBest forEstimated cost on USD 5,000FIRAReview
Karbon BusinessUS bank transfers and marketplace payouts211.00 to 1.18%2122Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.21Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone231.00 to 1.18%2425Razorpay 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.232625Razorpay review
WinvestaLocal transfers with a published per-payment fee27281.24%27293031Free 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.3029Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork321.00 to 4.00%333435Free digital FIRA PDF for each transaction, issued by Payoneer's partner AD bank and available in the account under Manage, Reports and statements, within 24 to 72 hours (the same help article also says 1 to 3 business days). The e-FIRA/IRM in EDPMS is issued by the exporter's own bank, which may need the FIRA plus export documents.3536Payoneer 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]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  2. [2]Skydo, Home page (checked 2026-10-28)
  3. [3]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  4. [4]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  5. [5]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  6. [6]Skydo, Terms of use (checked 2026-10-28)
  7. [7]Skydo FAQ, What are the fees for using Payment Links? (checked 2026-10-28)
  8. [8]PayU India, International Payment Gateway (checked 2026-10-28)
  9. [9]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  10. [10]PayU India, Pricing (checked 2026-10-28)
  11. [11]PayU Docs, FAQs: International Payments and Dynamic Currency Conversion (checked 2026-10-28)
  12. [12]Skydo FAQs, How long does settlement take on InstaLinks? (checked 2026-10-28)
  13. [13]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  14. [14]Skydo FAQs, In which currencies I can receive money using Skydo? (checked 2026-10-28)
  15. [15]PayU Docs, Documents Checklist for Account Activation (checked 2026-10-28)
  16. [16]PayU Docs, PayU India International Payments (checked 2026-10-28)
  17. [17]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)
  18. [18]RBI: Payment system operators authorised under the PSS Act, 2007, list as on 16 October 2026 (checked 2026-10-28)
  19. [19]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025
  20. [20]Skydo FAQs, When should I use the International SWIFT account and when should I use the Local Account? (checked 2026-10-28)
  21. [21]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  22. [22]Karbon, PayPal alternative (checked 2026-10-28)
  23. [23]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  24. [24]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  25. [25]Razorpay, Pricing (checked 2026-10-28)
  26. [26]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  27. [27]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  28. [28]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  29. [29]Winvesta, Multi-currency account (checked 2026-10-28)
  30. [30]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  31. [31]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  32. [32]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  33. [33]Payoneer India, Payoneer Fees (checked 2026-10-28)
  34. [34]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  35. [35]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  36. [36]Payoneer India, Digital FIRC page (checked 2026-10-28)
  37. [37]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  38. [38]Skydo FAQs, From which countries I can not receive payments using Skydo? (checked 2026-10-28)
  39. [39]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: skydo costs about 0.68%; PayU does not publish full pricing.123456 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 Skydo 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.11 Skydo: Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.513

Can individual freelancers use PayU and Skydo?+

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.1516 Skydo: Skydo's terms cover individuals aged 18 or over, proprietorships, companies and other legal entities, for business and commercial payments only; Skydo says the service is built for Indian freelancers and exporters. Whether GST registration is required is not published.65

Are PayU and Skydo 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 2026.17 Skydo: Skydo Technologies Private Limited is on the RBI list as a PA-CB-I & O (Payment Aggregator, Cross Border, facilitating inward and outward transactions), authorised on 8 January 2026. Its terms say it uses partner banks to provide the service.186

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

PayU: Typically T+2 business days for international payments.811 Skydo: Skydo's product page says funds settle to the Indian bank within 24 hours. Its terms commit to commercially reasonable efforts to credit within T+1 to T+3 business days, depending on currency and corridor. ACH Debit via InstaLinks typically settles within 6 business days.5612

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

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, Skydo or a bank wire.39

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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