Guide for Service Exporters
Menu
Compare

PingPong vs Cashfree Payments (2026): Which Is Better for Receiving International Payments in India?

Author:
Editorial team, serviceexportguide.com
Verified by:
Editorial team
Published
Last modified
Fees checked on
Reading time
15 min read

Short answer

Neither PingPong nor Cashfree 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: PingPong is best for collecting marketplace and processor payouts, and Cashfree Payments is best for registered businesses paid by local transfer.1234

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.
PingPong is best forPingPongCollecting marketplace and processor payouts.12
Cashfree Payments is best forCashfree PaymentsRegistered businesses paid by local transfer.34

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 PingPong and Cashfree Payments compare at a glance?

PingPong and Cashfree 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.5678

PingPongCashfree Payments
Best forCollecting marketplace and processor payouts12Registered businesses paid by local transfer34
FeesPingPong says creating an account and receiving payments is free of charge, and that most virtual accounts are free to use.56Global Collections: Not published. The pricing page shows 'Request Price' and describes a 'Low, processing fee; no hidden charges'. Cashfree says there is no setup cost.78
FX markupNot published as a percentage. PingPong's terms say conversion happens at the rate PingPong determines at the time of the transaction, at its sole and absolute discretion.Cashfree says Global Collections has no forex markup and that it handles conversion to INR in real time. The exchange rate used and any spread are not published.983
SettlementPingPong says INR withdrawals submitted before 2:30 pm succeed the same day (T+0) and after 2:30 pm the next day (T+1); non-INR withdrawals succeed within 1 to 3 days. Its freelancer page says 1 to 2 working days to an Indian account.102Global Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.811
FIRAPingPong says it provides a digital FIRC free of cost. You apply in the dashboard against the relevant transactions and PingPong says the application takes 3 to 5 business days.11213Cashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.891411
CurrenciesPingPong India lists virtual accounts in 12 currencies. Its freelancer page lists a shorter set of six receiving currencies.12Global Collections local account details in USD, EUR, CAD and GBP, plus SWIFT. Cashfree's documentation lists 17 supported currencies; its marketing pages say 30+ currencies from 180+ countries. The card gateway is described as accepting 140+ currencies.4911
KYC: who can sign upIndividuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.15Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.73
RBI PA-CB statusPingPong says its India Liaison Office is approved by the RBI (unique identification number BGLO19008226) and that PingPong acts in India as an Online Payment Gateway Service Provider (OPGSP). Its terms for Indian customers cite the RBI Payment Aggregator Cross Border (PA-CB) rules and say funds are held in an Export Collection Account with an Authorised Dealer bank in India. PingPong does not appear among the PA-CB entities in the RBI list of Certificates of Authorisation dated 16 October 2026. Under the RBI Master Direction of 15 September 2025, the older OPGSP circulars continue only for an existing PA-CB that applied for authorisation on or before 30 April 2024 and whose application is still pending. Whether PingPong has such a pending application is not published on the pages checked.1617181920Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.21914
SupportEmail cs-india@pingpongx.com, LiveChat, a Bengaluru office for licensing queries, and a dedicated account manager.16121Support form in the merchant dashboard and an account manager; Global Collections onboarding is through Contact Sales. Enterprise customers get a dedicated account manager and WhatsApp support.1439
LimitsPingPong's India terms limit eligible receipts to ₹25,00,000 per transaction. The number of virtual accounts you can open depends on account usage level and turnover.1822Global Collections: invoice value up to USD 10,000 per transaction, per Cashfree; no daily or monthly cap on the number of transactions. The RBI Master Direction sets ₹25 lakh per transaction for PA-CB export transactions.14820
How clients payPayment into a virtual receiving account from marketplaces, payment processors such as PayPal and Stripe, or a client's wire transfer (PingPong may ask for the invoice or contract); or through a PingPong payment request (e-invoice) paid by bank transfer or PingPong balance.122324Global Collections: local bank transfer to collection account details (ACH in the US, SEPA in Europe, EFT in Canada, Faster Payments in the UK) or SWIFT. International Payment Gateway: international cards (Visa, Mastercard, American Express) on a checkout, and PayPal through the merchant's own linked PayPal account.41125
Card paymentsPingPong's India home page says payment requests accept bank transfers and US debit card payments; its help centre lists only bank transfer and PingPong balance for paying an e-invoice. Card fee: Not published.124Yes, through the International Payment Gateway. Published platform fee: 2.99% for Visa and Mastercard international cards, 2.95% for American Express. PayPal is charged at PayPal's own rates; Cashfree says it adds no gateway charge for PayPal.79

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

The INR you receive with PingPong and Cashfree 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: Cashfree Payments, PingPong.

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 PingPong and who is it for?

PingPong is a cross-border payments company founded in New York in 2015 that gives Indian sellers, freelancers and service providers virtual receiving accounts in foreign currencies and withdraws the money to an Indian bank account.171

  • Regulated by: PingPong says its India Liaison Office is approved by the RBI (unique identification number BGLO19008226) and that PingPong acts in India as an Online Payment Gateway Service Provider (OPGSP). Its terms for Indian customers cite the RBI Payment Aggregator Cross Border (PA-CB) rules and say funds are held in an Export Collection Account with an Authorised Dealer bank in India. PingPong does not appear among the PA-CB entities in the RBI list of Certificates of Authorisation dated 16 October 2026. Under the RBI Master Direction of 15 September 2025, the older OPGSP circulars continue only for an existing PA-CB that applied for authorisation on or before 30 April 2024 and whose application is still pending. Whether PingPong has such a pending application is not published on the pages checked.1617181920
  • Used by: Individuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.15
  • Best for: Collecting marketplace and processor payouts.12

What is Cashfree Payments and who is it for?

Cashfree Payments is a Bengaluru-based payment company, authorised by the RBI as a cross-border payment aggregator for inward and outward transactions, whose Global Collections product gives Indian businesses local collection account details abroad and settles receipts in INR.2134

  • Regulated by: Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.21914
  • Used by: Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.73
  • Best for: Registered businesses paid by local transfer.34

How do PingPong and Cashfree Payments fees and FX markup compare?

PingPong and Cashfree Payments charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does PingPong charge?

Transaction typeFeeFX markupGST on feesBest for
Payment into a PingPong virtual receiving account, then withdrawal to an Indian bank1%56118Not publishedNot statedClients paying by local bank transfer

What does Cashfree Payments charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections: local account details or Global SWIFT AccountNot published870%Not statedClients paying by local bank transfer
International Payment Gateway: Visa or Mastercard international cards2.99%7Not publishedNot statedClients paying by card
International Payment Gateway: American Express2.95%7Not publishedNot statedClients paying by card

How do PingPong and Cashfree Payments compare on settlement speed?

PingPong and Cashfree Payments publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
PingPongPingPong says INR withdrawals submitted before 2:30 pm succeed the same day (T+0) and after 2:30 pm the next day (T+1); non-INR withdrawals succeed within 1 to 3 days. Its freelancer page says 1 to 2 working days to an Indian account.102Withdrawal to your own Indian bank account, manually or by auto withdraw, in INR or in foreign currency to an EEFC account. PingPong's help centre says withdrawals are charged 1% per transaction and that the fee standard may vary by region.1105Collecting marketplace and processor payouts12
Cashfree PaymentsGlobal Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.811Automatic. Receipts are converted to INR and settled to the exporter's Indian bank account; Cashfree says balances cannot be held in foreign currency or settled to a foreign currency account. No separate withdrawal fee is published.38Registered businesses paid by local transfer34

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

PingPong and Cashfree 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.45

PlatformFIRARBI PA-CB statusBest for
PingPongPingPong says it provides a digital FIRC free of cost. You apply in the dashboard against the relevant transactions and PingPong says the application takes 3 to 5 business days.11213PingPong says its India Liaison Office is approved by the RBI (unique identification number BGLO19008226) and that PingPong acts in India as an Online Payment Gateway Service Provider (OPGSP). Its terms for Indian customers cite the RBI Payment Aggregator Cross Border (PA-CB) rules and say funds are held in an Export Collection Account with an Authorised Dealer bank in India. PingPong does not appear among the PA-CB entities in the RBI list of Certificates of Authorisation dated 16 October 2026. Under the RBI Master Direction of 15 September 2025, the older OPGSP circulars continue only for an existing PA-CB that applied for authorisation on or before 30 April 2024 and whose application is still pending. Whether PingPong has such a pending application is not published on the pages checked.1617181920Collecting marketplace and processor payouts12
Cashfree PaymentsCashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.891411Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.21914Registered businesses paid by local transfer34

Which currencies, countries and payment methods do PingPong and Cashfree Payments support?

PingPong and Cashfree Payments accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
PingPongPingPong India lists virtual accounts in 12 currencies. Its freelancer page lists a shorter set of six receiving currencies.12Payment into a virtual receiving account from marketplaces, payment processors such as PayPal and Stripe, or a client's wire transfer (PingPong may ask for the invoice or contract); or through a PingPong payment request (e-invoice) paid by bank transfer or PingPong balance.122324PingPong's India home page says payment requests accept bank transfers and US debit card payments; its help centre lists only bank transfer and PingPong balance for paying an e-invoice. Card fee: Not published.124Collecting marketplace and processor payouts12
Cashfree PaymentsGlobal Collections local account details in USD, EUR, CAD and GBP, plus SWIFT. Cashfree's documentation lists 17 supported currencies; its marketing pages say 30+ currencies from 180+ countries. The card gateway is described as accepting 140+ currencies.4911Global Collections: local bank transfer to collection account details (ACH in the US, SEPA in Europe, EFT in Canada, Faster Payments in the UK) or SWIFT. International Payment Gateway: international cards (Visa, Mastercard, American Express) on a checkout, and PayPal through the merchant's own linked PayPal account.41125Yes, through the International Payment Gateway. Published platform fee: 2.99% for Visa and Mastercard international cards, 2.95% for American Express. PayPal is charged at PayPal's own rates; Cashfree says it adds no gateway charge for PayPal.79Registered businesses paid by local transfer34

What are the strengths and limitations of PingPong and Cashfree Payments?

PingPong and Cashfree Payments each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of PingPong?

Strengths:

  • You are paid through marketplaces, app stores or processors such as PayPal and Stripe and want a receiving account that collects those payouts.12
  • You want to keep receipts in foreign currency through an EEFC account rather than convert every payment to INR.1
  • You want a free digital FIRC from the dashboard for each receipt.113

Limitations:

  • PingPong does not appear among PA-CB entities in the RBI list of Certificates of Authorisation dated 16 October 2026, and its India authorisation status under the PA-CB rules is not published on the pages checked.1916
  • The FX rate is set by PingPong at its discretion and no markup percentage is published.18
  • The 1% withdrawal fee is published in a help article that says the fee may vary by region and to check with customer service or an account manager.5
  • Eligible receipts are capped at ₹25,00,000 per transaction.18
  • The contracting entity for India is PingPong Global Solutions Inc., a New York corporation, with California law and courts.18

What are the strengths and limitations of Cashfree Payments?

Strengths:

  • You bill through a registered Indian business and want overseas clients to pay by local transfer in USD, EUR, CAD or GBP, with INR settled automatically.34
  • Your invoices are each up to USD 10,000.14
  • You also want a card checkout for international clients, with a published platform fee.711

Limitations:

  • Global Collections pricing is not published; Cashfree quotes it on request.7
  • Cross-border payments are available only to businesses, so individuals without a registered business cannot use Global Collections per Cashfree.73
  • Invoice value is capped at USD 10,000 per transaction for Global Collections.14
  • Foreign currency balances cannot be held; all receipts settle in INR.8

Should you choose PingPong or Cashfree Payments?

Choose between PingPong and Cashfree Payments by how your clients pay and your usual invoice size.

Choose PingPong if:

  • You are paid through marketplaces, app stores or processors such as PayPal and Stripe and want a receiving account that collects those payouts.12
  • You want to keep receipts in foreign currency through an EEFC account rather than convert every payment to INR.1
  • You want a free digital FIRC from the dashboard for each receipt.113

Choose Cashfree Payments if:

  • You bill through a registered Indian business and want overseas clients to pay by local transfer in USD, EUR, CAD or GBP, with INR settled automatically.34
  • Your invoices are each up to USD 10,000.14
  • You also want a card checkout for international clients, with a published platform fee.711

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.18983

Which other platforms should you consider besides PingPong and Cashfree Payments?

Other platforms to consider besides PingPong and Cashfree Payments are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2728293031323435373840424344

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
WinvestaLocal transfers with a published per-payment fee40411.24%40424344Free 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.4342Winvesta 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]PingPong India, home page (checked 2026-10-28)
  2. [2]PingPong India, Freelancers and Service Providers (checked 2026-10-28)
  3. [3]Cashfree Payments Docs, Global Collections overview (checked 2026-10-28)
  4. [4]Cashfree Payments Docs, Global Collections: Collection Accounts (checked 2026-10-28)
  5. [5]PingPong India Help Center, What is the charging standard? (checked 2026-10-28)
  6. [6]PingPong India Help Center, How does your virtual account charge? (checked 2026-10-28)
  7. [7]Cashfree Payments, Payment Gateway Charges (India), International Cards, Global Collections and Cross Border FAQ (checked 2026-10-28)
  8. [8]Cashfree Payments, Global Collections: International wire transfer for Indian businesses (checked 2026-10-28)
  9. [9]Cashfree Payments, Cross Border Payment solutions: Accept international payments (checked 2026-10-28)
  10. [10]PingPong India Help Center, How can I withdraw funds from my PingPong account? (checked 2026-10-28)
  11. [11]Cashfree Payments Docs, International Payment Gateway (IPG) overview (checked 2026-10-28)
  12. [12]PingPong India, Value Added Services (checked 2026-10-28)
  13. [13]PingPong India Help Center, How can I get a FIRC? (checked 2026-10-28)
  14. [14]Cashfree Payments Docs, Global Collections FAQs (checked 2026-10-28)
  15. [15]PingPong India Help Center, What steps should I follow for registering a PingPong account? (checked 2026-10-28)
  16. [16]PingPong India, License and Regulation (checked 2026-10-28)
  17. [17]PingPong India, About Us (checked 2026-10-28)
  18. [18]PingPong Service Terms and Conditions, section 3.1, section 9.3 and Exhibit A (Applicable to Customer Location in India) (checked 2026-10-28)
  19. [19]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), dated 16 October 2026 (checked 2026-10-28)
  20. [20]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraphs 11(d) and 19
  21. [21]RBI, Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 for setting up and operating payment systems in India, Payment Aggregators table (checked 2026-10-28)
  22. [22]PingPong India Help Center, Are there any requirements to increase the amount of receiving accounts that I have? (checked 2026-10-28)
  23. [23]PingPong India Help Center, Can I receive funds from purchaser through wire transfer? (checked 2026-10-28)
  24. [24]PingPong India Help Center, What are the payment methods available for paying e-invoice? (checked 2026-10-28)
  25. [25]Cashfree Payments Docs, PayPal for International Payments (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]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  41. [41]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  42. [42]Winvesta, Multi-currency account (checked 2026-10-28)
  43. [43]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  44. [44]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  45. [45]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  46. [46]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, PingPong or Cashfree Payments?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.18983 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do PingPong and Cashfree Payments give a FIRA to Indian exporters?+

PingPong: PingPong says it provides a digital FIRC free of cost. You apply in the dashboard against the relevant transactions and PingPong says the application takes 3 to 5 business days.11213 Cashfree Payments: Cashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.891411

Can individual freelancers use PingPong and Cashfree Payments?+

PingPong: Individuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.15 Cashfree Payments: Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.73

Are PingPong and Cashfree Payments authorised by the RBI?+

PingPong: PingPong says its India Liaison Office is approved by the RBI (unique identification number BGLO19008226) and that PingPong acts in India as an Online Payment Gateway Service Provider (OPGSP). Its terms for Indian customers cite the RBI Payment Aggregator Cross Border (PA-CB) rules and say funds are held in an Export Collection Account with an Authorised Dealer bank in India. PingPong does not appear among the PA-CB entities in the RBI list of Certificates of Authorisation dated 16 October 2026. Under the RBI Master Direction of 15 September 2025, the older OPGSP circulars continue only for an existing PA-CB that applied for authorisation on or before 30 April 2024 and whose application is still pending. Whether PingPong has such a pending application is not published on the pages checked.1617181920 Cashfree Payments: Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.21914

How fast do PingPong and Cashfree Payments pay out to an Indian bank?+

PingPong: PingPong says INR withdrawals submitted before 2:30 pm succeed the same day (T+0) and after 2:30 pm the next day (T+1); non-INR withdrawals succeed within 1 to 3 days. Its freelancer page says 1 to 2 working days to an Indian account.102 Cashfree Payments: Global Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.811

Do I still need an LUT if I am paid through PingPong or Cashfree 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 PingPong, Cashfree Payments or a bank wire.46

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.

Keep reading

Platforms

PingPong for Indian service exporters: how it works, costs and limits

How PingPong works for Indian freelancers and businesses: RBI status, virtual accounts, the 1% withdrawal fee, free FIRC, purpose codes and the 2026 EDF rules.

Platforms

Cashfree Payments for Indian service exporters: how it works, costs and limits

How Cashfree Payments Global Collections and its international card gateway work for Indian service exporters: RBI status, who can sign up, FIRA, limits and costs.

Compare

What Are the Best PingPong Alternatives for Indian Exporters and Freelancers in 2026?

PingPong alternatives for Indian freelancers and agencies, ordered by estimated cost: INR received on $2,000 to $10,000, fees, FX markup, FIRA and RBI status.

Compare

What Are the Best Cashfree Payments Alternatives for Indian Exporters and Freelancers in 2026?

Cashfree Payments alternatives for Indian freelancers and agencies, ordered by estimated cost: INR received on $2,000 to $10,000, fees, FX markup, FIRA and RBI status.