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

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

Short answer

Neither PingPong nor Currenxie 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 Currenxie is best for companies registered outside India.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
Currenxie is best forCurrenxieCompanies registered outside India.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 Currenxie compare at a glance?

PingPong and Currenxie 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.567

PingPongCurrenxie
Best forCollecting marketplace and processor payouts12Companies registered outside India34
FeesPingPong says creating an account and receiving payments is free of charge, and that most virtual accounts are free to use.56USD 0.75 per local payment collected; USD 8.00 per SWIFT payment sent or received; USD 8.00 one-time fee for each additional virtual account activation. Global Account itself listed as free.7
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.Mid-market rate plus a published percentage by currency tier: 0.50% for exchanges with INR (Tier 3); 0.35% for major currencies such as USD, EUR and GBP (Tier 1). How a pair spanning two tiers is priced is not published.7
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.82Not published for payments to India.
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.1910Not published. Currenxie's pricing, product and terms pages do not mention a FIRA, FIRC or e-BRC.
CurrenciesPingPong India lists virtual accounts in 12 currencies. Its freelancer page lists a shorter set of six receiving currencies.12Local collection is listed for these countries and currencies on Currenxie's network page. INR is not a collection or holding currency; India appears only as a local payout destination.47
KYC: who can sign upIndividuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.11Businesses only. Currenxie says it does not offer accounts for sole traders or for personal use, welcomes businesses registered in most countries except sanctioned or high-risk ones, and cannot onboard US-registered businesses. Whether an India-registered company is accepted is not published.3
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.1213141516No Indian authorisation found. Currenxie is not named in the RBI list of authorised payment aggregators (including PA-CB) dated 16 October 2026. Currenxie lists licensed entities in Australia, Canada, Hong Kong, Ireland, Mexico, South Africa and the United Kingdom, none in India. Its Global Account terms are with Currenxie Ltd, a Hong Kong Money Service Operator (licence 14-05-01424), and say an account may be opened only if it is legal to do so in the customer's country of residence.1718
SupportEmail cs-india@pingpongx.com, LiveChat, a Bengaluru office for licensing queries, and a dedicated account manager.1291Help Centre and contact form on the website; Currenxie describes personal client support. No India-specific support is published.3
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.1419Not published.
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.122021Local bank transfer to a virtual account in the Global Account holder's name, SWIFT transfer, or collection from marketplaces and payment gateways such as Amazon, Shopify, PayPal and Stripe. No card checkout for clients is published.37
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.121Not published. Currenxie's Visa cards are spending cards for account holders (available to Hong Kong-registered businesses), not a way for clients to pay by card.

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

The INR you receive with PingPong and Currenxie 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: 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.131

  • 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.1213141516
  • Used by: Individuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.11
  • Best for: Collecting marketplace and processor payouts.12

What is Currenxie and who is it for?

Currenxie is a payments company whose Global Account, provided by Hong Kong-incorporated Currenxie Ltd, gives businesses (not sole traders) local virtual account details in several countries; it does not publish an India product, is not on the RBI list of authorised payment aggregators, and does not mention FIRA or purpose codes.31817

  • Regulated by: No Indian authorisation found. Currenxie is not named in the RBI list of authorised payment aggregators (including PA-CB) dated 16 October 2026. Currenxie lists licensed entities in Australia, Canada, Hong Kong, Ireland, Mexico, South Africa and the United Kingdom, none in India. Its Global Account terms are with Currenxie Ltd, a Hong Kong Money Service Operator (licence 14-05-01424), and say an account may be opened only if it is legal to do so in the customer's country of residence.1718
  • Used by: Businesses only. Currenxie says it does not offer accounts for sole traders or for personal use, welcomes businesses registered in most countries except sanctioned or high-risk ones, and cannot onboard US-registered businesses. Whether an India-registered company is accepted is not published.3
  • Best for: Companies registered outside India.34

How do PingPong and Currenxie fees and FX markup compare?

PingPong and Currenxie 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%56114Not publishedNot statedClients paying by local bank transfer

What does Currenxie charge?

  • Fees: USD 0.75 per local payment collected; USD 8.00 per SWIFT payment sent or received; USD 8.00 one-time fee for each additional virtual account activation. Global Account itself listed as free.7

How do PingPong and Currenxie compare on settlement speed?

PingPong and Currenxie 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.82Withdrawal 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.185Collecting marketplace and processor payouts12
CurrenxieNot published for payments to India.The Global Account holder can send a local INR payment to a bank account in India for USD 3.00 per transfer, plus the 0.50% INR conversion fee if converted. This is an outward payment from a foreign account, not an inward export remittance service for an Indian exporter.74Companies registered outside India34

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

PingPong and Currenxie 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.41

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.1910PingPong 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.1213141516Collecting marketplace and processor payouts12
CurrenxieNot published. Currenxie's pricing, product and terms pages do not mention a FIRA, FIRC or e-BRC.No Indian authorisation found. Currenxie is not named in the RBI list of authorised payment aggregators (including PA-CB) dated 16 October 2026. Currenxie lists licensed entities in Australia, Canada, Hong Kong, Ireland, Mexico, South Africa and the United Kingdom, none in India. Its Global Account terms are with Currenxie Ltd, a Hong Kong Money Service Operator (licence 14-05-01424), and say an account may be opened only if it is legal to do so in the customer's country of residence.1718Companies registered outside India34

Which currencies, countries and payment methods do PingPong and Currenxie support?

PingPong and Currenxie 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.122021PingPong'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.121Collecting marketplace and processor payouts12
CurrenxieLocal collection is listed for these countries and currencies on Currenxie's network page. INR is not a collection or holding currency; India appears only as a local payout destination.47Local bank transfer to a virtual account in the Global Account holder's name, SWIFT transfer, or collection from marketplaces and payment gateways such as Amazon, Shopify, PayPal and Stripe. No card checkout for clients is published.37Not published. Currenxie's Visa cards are spending cards for account holders (available to Hong Kong-registered businesses), not a way for clients to pay by card.Companies registered outside India34

What are the strengths and limitations of PingPong and Currenxie?

PingPong and Currenxie 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.110

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.1512
  • The FX rate is set by PingPong at its discretion and no markup percentage is published.14
  • 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.14
  • The contracting entity for India is PingPong Global Solutions Inc., a New York corporation, with California law and courts.14

What are the strengths and limitations of Currenxie?

Strengths:

  • You run a company registered outside India (and outside the US) that is accepted by Currenxie and want local account details in currencies such as USD, EUR, GBP or HKD.34
  • Your business needs to pay suppliers or staff in India in INR from a foreign multi-currency account.74

Limitations:

  • Not authorised by the RBI as a payment aggregator, including PA-CB, as of the list dated 16 October 2026.17
  • No accounts for sole traders or personal use, so individual freelancers cannot sign up.3
  • No FIRA, FIRC or purpose code process is published.7318
  • INR cannot be held in the Global Account; INR is a payout currency only.74
  • Currenxie may hold, reject or return incoming payments at its discretion under its compliance policies.18

Should you choose PingPong or Currenxie?

Choose between PingPong and Currenxie 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.110

Choose Currenxie if:

  • You run a company registered outside India (and outside the US) that is accepted by Currenxie and want local account details in currencies such as USD, EUR, GBP or HKD.34
  • Your business needs to pay suppliers or staff in India in INR from a foreign multi-currency account.74

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.147

Which other platforms should you consider besides PingPong and Currenxie?

Other platforms to consider besides PingPong and Currenxie are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2324252627283031333436383940

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets220.68%232425262728Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2729Skydo review
Karbon BusinessUS bank transfers and marketplace payouts301.00 to 1.18%3031Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.30Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone321.00 to 1.18%3334Razorpay 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.323534Razorpay review
WinvestaLocal transfers with a published per-payment fee36371.24%36383940Free 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.3938Winvesta 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]Currenxie, Global Account product page and FAQ (checked 2026-10-28)
  4. [4]Currenxie, Network page: local collect, local payout and wire countries (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]Currenxie, Pricing (checked 2026-10-28)
  8. [8]PingPong India Help Center, How can I withdraw funds from my PingPong account? (checked 2026-10-28)
  9. [9]PingPong India, Value Added Services (checked 2026-10-28)
  10. [10]PingPong India Help Center, How can I get a FIRC? (checked 2026-10-28)
  11. [11]PingPong India Help Center, What steps should I follow for registering a PingPong account? (checked 2026-10-28)
  12. [12]PingPong India, License and Regulation (checked 2026-10-28)
  13. [13]PingPong India, About Us (checked 2026-10-28)
  14. [14]PingPong Service Terms and Conditions, section 3.1, section 9.3 and Exhibit A (Applicable to Customer Location in India) (checked 2026-10-28)
  15. [15]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)
  16. [16]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraphs 11(d) and 19
  17. [17]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB) section, list dated 16 October 2026
  18. [18]Currenxie, Global Account Terms and Conditions, Currenxie Ltd, Hong Kong (checked 2026-10-28)
  19. [19]PingPong India Help Center, Are there any requirements to increase the amount of receiving accounts that I have? (checked 2026-10-28)
  20. [20]PingPong India Help Center, Can I receive funds from purchaser through wire transfer? (checked 2026-10-28)
  21. [21]PingPong India Help Center, What are the payment methods available for paying e-invoice? (checked 2026-10-28)
  22. [22]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  23. [23]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  24. [24]Skydo, Home page (checked 2026-10-28)
  25. [25]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  26. [26]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  27. [27]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  28. [28]Skydo, Terms of use (checked 2026-10-28)
  29. [29]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  30. [30]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  31. [31]Karbon, PayPal alternative (checked 2026-10-28)
  32. [32]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  33. [33]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  34. [34]Razorpay, Pricing (checked 2026-10-28)
  35. [35]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  36. [36]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  37. [37]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  38. [38]Winvesta, Multi-currency account (checked 2026-10-28)
  39. [39]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  40. [40]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  41. [41]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  42. [42]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, PingPong or Currenxie?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.147 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 Currenxie 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.1910 Currenxie: Not published. Currenxie's pricing, product and terms pages do not mention a FIRA, FIRC or e-BRC.

Can individual freelancers use PingPong and Currenxie?+

PingPong: Individuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.11 Currenxie: Businesses only. Currenxie says it does not offer accounts for sole traders or for personal use, welcomes businesses registered in most countries except sanctioned or high-risk ones, and cannot onboard US-registered businesses. Whether an India-registered company is accepted is not published.3

Are PingPong and Currenxie 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.1213141516 Currenxie: No Indian authorisation found. Currenxie is not named in the RBI list of authorised payment aggregators (including PA-CB) dated 16 October 2026. Currenxie lists licensed entities in Australia, Canada, Hong Kong, Ireland, Mexico, South Africa and the United Kingdom, none in India. Its Global Account terms are with Currenxie Ltd, a Hong Kong Money Service Operator (licence 14-05-01424), and say an account may be opened only if it is legal to do so in the customer's country of residence.1718

How fast do PingPong and Currenxie 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.82 Currenxie: Not published for payments to India.7

Do I still need an LUT if I am paid through PingPong or Currenxie?+

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, Currenxie or a bank wire.42

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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