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

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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 Winvesta is best for local transfers with a published per-payment fee.516

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareWinvesta costs about 1.24%; PayU does not publish full pricing.1234
Bank transfer of USD 2,000Cannot compareWinvesta costs about 1.35%; PayU does not publish full pricing.1234
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.5
Winvesta is best forWinvestaLocal transfers with a published per-payment fee.16

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%
3WinvestaThis pageGlobal 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 Winvesta compare at a glance?

PayU and Winvesta 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.71

PayUWinvesta
Best forCard or PayPal checkout with INR settlement5Local transfers with a published per-payment fee16
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.7Up to 2,000 a month per currency: 0.99% plus a fixed fee per transaction ($3 for USD, EUR 5, GBP 5, AUD 10, SGD 10, other currencies the equivalent of $5). 2,000 to 100,000 a month: custom pricing. Above 100,000 a month: 0.2% per transaction with no fixed fee. Winvesta says 18% GST is levied on its fees for every non-JPMC account.1
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.58Winvesta advertises 0% forex markup and zero FX on USD, and shows the exact FX rate applied and its booking time after each withdrawal. The reference rate is not published.29
SettlementTypically T+2 business days for international payments.58USD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.101112
FIRAPayU says it provides a FIRC on request through the merchant's Key Account Manager. The cost is not published.8Free 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.32
CurrenciesPayU says it accepts payments in 135+ currencies and can show local prices in 27 currencies.58Local account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).6131
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.1415Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1617
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 2026.18Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.191820
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.5Email support@winvesta.in; phone +91-(0)20-7117 8885, Monday to Friday, 10:00 am to 6:00 pm IST.2
LimitsPayU does not publish a limit for export receipts. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.521Winvesta says there are no limits on incoming transactions in USD and 30 other currencies. Its FAQs give different maximum holding periods (30 days in one answer, 9 months in another).221323
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.515Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.6241312
Card paymentsYes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.7Yes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1225

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

The INR you receive with PayU and Winvesta 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
WinvestaMost INRGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,85,951₹4,65,377₹9,31,0881.24%

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.185

  • 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 2026.18
  • 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.1415
  • Best for: Card or PayPal checkout with INR settlement.5

What is Winvesta and who is it for?

Winvesta is a Mumbai-based company whose Global Collections Account gives Indian businesses and freelancers local USD, EUR, GBP and CAD account details, with withdrawal to INR and a free e-FIRA.2133

  • Regulated by: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.191820
  • Used by: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1617
  • Best for: Local transfers with a published per-payment fee.16

How do PayU and Winvesta fees and FX markup compare?

PayU and Winvesta 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%78Not publishedNot statedClients paying by card

What does Winvesta charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections Account, standard plan (up to 2,000 a month per currency)0.99% + plus a fixed fee by currency12340%18%Clients paying by local bank transfer
Card payment through Winvesta payment linksNot published120%Not statedClients paying by card

How do PayU and Winvesta compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
PayUTypically T+2 business days for international payments.58Settled 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.5157Card or PayPal checkout with INR settlement5
WinvestaUSD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.101112The user withdraws to an Indian bank account in INR after providing an invoice for the receipt. Priority withdrawal is available on request, typically for a $15 to $25 additional fee on USD.13454Local transfers with a published per-payment fee16

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

PayU and Winvesta 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.46

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.8The 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 2026.18Card or PayPal checkout with INR settlement5
WinvestaFree 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.32Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.191820Local transfers with a published per-payment fee16

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

PayU and Winvesta 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.58International 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.515Yes. International card transactions fall under PayU's 3% Standard Plan slab, GST extra.7Card or PayPal checkout with INR settlement5
WinvestaLocal account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).6131Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.6241312Yes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1225Local transfers with a published per-payment fee16

What are the strengths and limitations of PayU and Winvesta?

PayU and Winvesta 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.5
  • You want a provider listed by the RBI as a cross-border payment aggregator for inward transactions.18
  • You already use PayU for domestic payments and want international payments enabled on the same integration.15

Limitations:

  • No bank transfer collection route (local account details for foreign clients) is published; the international product is card and wallet based.515
  • The exchange margin on conversion to INR is not published.8
  • International payments must be enabled through a Key Account Manager, and the FIRC is also requested through the account manager.158
  • PA-CB export transactions are limited to ₹25 lakh each under RBI rules.21
  • Priority settlement fees and the conditions behind the Standard Plan's terms and conditions note are not published.7

What are the strengths and limitations of Winvesta?

Strengths:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.61
  • You are a freelancer without a registered business who has a PAN and Aadhaar.16
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

Limitations:

  • Winvesta is not on the RBI's list of authorised payment aggregators and does not name its banking partner on its pages.1819
  • Each withdrawal needs an invoice with the purpose code and other mandatory fields.45
  • The fixed fee per transaction ($3 on USD) weighs more on small receipts.1
  • Card collection fees are not published.2512
  • Winvesta's own pages disagree on the number of currencies, the maximum holding period and card settlement time.131231112

Should you choose PayU or Winvesta?

Choose between PayU and Winvesta 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.5
  • You want a provider listed by the RBI as a cross-border payment aggregator for inward transactions.18
  • You already use PayU for domestic payments and want international payments enabled on the same integration.15

Choose Winvesta if:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.61
  • You are a freelancer without a registered business who has a PAN and Aadhaar.16
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

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.5829

Which other platforms should you consider besides PayU and Winvesta?

Other platforms to consider besides PayU and Winvesta are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.27282930313234353738414243

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets260.68%272829303132Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.3133Skydo review
Karbon BusinessUS bank transfers and marketplace payouts341.00 to 1.18%3435Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.34Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone361.00 to 1.18%3738Razorpay 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.363938Razorpay review
PayoneerMarketplace payouts such as Amazon or Upwork401.00 to 4.00%414243Free 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.4344Payoneer 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]Winvesta FAQ, What are the charges for the Global Collections Account? (checked 2026-10-28)
  2. [2]Winvesta, Multi-currency account (checked 2026-10-28)
  3. [3]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  4. [4]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  5. [5]PayU India, International Payment Gateway (checked 2026-10-28)
  6. [6]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  7. [7]PayU India, Pricing (checked 2026-10-28)
  8. [8]PayU Docs, FAQs: International Payments and Dynamic Currency Conversion (checked 2026-10-28)
  9. [9]Winvesta FAQs, How can I view the FX rate for the conversion of my funds? (checked 2026-10-28)
  10. [10]Winvesta FAQs, How long does it take for funds to reach my Indian bank account? (checked 2026-10-28)
  11. [11]Winvesta FAQs, How does settlement work? Do I need to submit an invoice to withdraw funds? (checked 2026-10-28)
  12. [12]Winvesta, Card Collections via Payment Links (checked 2026-10-28)
  13. [13]Winvesta FAQs, What is a global collections account and how does it work? (checked 2026-10-28)
  14. [14]PayU Docs, Documents Checklist for Account Activation (checked 2026-10-28)
  15. [15]PayU Docs, PayU India International Payments (checked 2026-10-28)
  16. [16]Winvesta FAQs, What documents do I need to open a global collection account as a freelancer? (checked 2026-10-28)
  17. [17]Winvesta FAQs, What documents do I need to open a global collections account as a business owner? (checked 2026-10-28)
  18. [18]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)
  19. [19]Winvesta FAQs, How is Winvesta regulated? (checked 2026-10-28)
  20. [20]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  21. [21]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025
  22. [22]Winvesta FAQs, What are the transaction limits on my account? (checked 2026-10-28)
  23. [23]Winvesta FAQs, What is the maximum time I can keep funds in my GCA? (checked 2026-10-28)
  24. [24]Winvesta FAQs, How do I receive USD? (checked 2026-10-28)
  25. [25]Winvesta FAQs, My client paid ₹1,000, and their bank charged them a 2% fee. How does that affect me? (checked 2026-10-28)
  26. [26]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  27. [27]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  28. [28]Skydo, Home page (checked 2026-10-28)
  29. [29]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  30. [30]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  31. [31]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  32. [32]Skydo, Terms of use (checked 2026-10-28)
  33. [33]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  34. [34]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  35. [35]Karbon, PayPal alternative (checked 2026-10-28)
  36. [36]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  37. [37]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  38. [38]Razorpay, Pricing (checked 2026-10-28)
  39. [39]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  40. [40]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  41. [41]Payoneer India, Payoneer Fees (checked 2026-10-28)
  42. [42]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  43. [43]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  44. [44]Payoneer India, Digital FIRC page (checked 2026-10-28)
  45. [45]Winvesta FAQs, What GST invoice do I need to withdraw funds? (checked 2026-10-28)
  46. [46]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  47. [47]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

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

There is no cost verdict for a USD 5,000 bank transfer: winvesta costs about 1.24%; PayU does not publish full pricing.1234 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 Winvesta 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.8 Winvesta: Free 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.32

Can individual freelancers use PayU and Winvesta?+

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.1415 Winvesta: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1617

Are PayU and Winvesta 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 2026.18 Winvesta: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.191820

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

PayU: Typically T+2 business days for international payments.58 Winvesta: USD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.101112

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

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, Winvesta or a bank wire.47

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.