Guide for Service Exporters
Menu
Compare

PingPong vs Karbon Business (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
13 min read

Short answer

PingPong 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 Karbon Business is best for uS bank transfers and marketplace payouts.341

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareKarbon Business costs about 1.00 to 1.18%; PingPong does not publish full pricing.12
Bank transfer of USD 2,000Cannot compareKarbon Business costs about 1.00 to 1.18%; PingPong does not publish full pricing.12
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
PingPong is best forPingPongCollecting marketplace and processor payouts.34
Karbon Business is best forKarbon BusinessUS bank transfers and marketplace payouts.1

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 costThis pageBank 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 Karbon Business compare at a glance?

PingPong and Karbon Business 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.5621

PingPongKarbon Business
Best forCollecting marketplace and processor payouts34US bank transfers and marketplace payouts1
FeesPingPong says creating an account and receiving payments is free of charge, and that most virtual accounts are free to use.56Karbon's PayPal alternative page lists a 1% transaction fee in its feature list; its freelancer page gives no fee amount.21
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.Karbon's freelancer page says 0% markup on inward remittance; its PayPal comparison page gives a forex markup of 0.5% to 1.0%. The home page says displayed amounts are indicative and depend on the rate booking date.127
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.84Karbon says international payments reach India within 24 to 48 hours.1
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.3910Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.1
CurrenciesPingPong India lists virtual accounts in 12 currencies. Its freelancer page lists a shorter set of six receiving currencies.34Karbon names USD, EUR and GBP; the virtual account it describes is in USD.1
KYC: who can sign upIndividuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.11Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.112
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.1314151617Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.12167
SupportEmail cs-india@pingpongx.com, LiveChat, a Bengaluru office for licensing queries, and a dedicated account manager.1393WhatsApp +91 74117 02726, sales@karboncard.com, support@karboncard.com and 1-800-309-8470.1
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.1518Not published by Karbon. RBI rules set a limit of ₹25 lakh per export transaction for PA-CBs.
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.341920Bank transfer to a virtual USD account (US account details in the user's name), payment requests or invoices sent by email or WhatsApp, and as a payout method on Upwork, Fiverr and Toptal.1
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.320Not published.

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

The INR you receive with PingPong and Karbon Business 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
Karbon BusinessMost INRBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹1,86,262 to ₹1,86,601₹4,65,655 to ₹4,66,503₹9,31,311 to ₹9,33,0071.00 to 1.18%

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.143

  • 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.1314151617
  • 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.34

What is Karbon Business and who is it for?

Karbon Business is a Bengaluru fintech that markets a virtual USD account, payment requests and inward remittances in INR to Indian freelancers and exporters; its forex terms say export receipts are processed under a payment partner's connected user terms.112

  • Regulated by: Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.12167
  • Used by: Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.112
  • Best for: US bank transfers and marketplace payouts.1

How do PingPong and Karbon Business fees and FX markup compare?

PingPong and Karbon Business 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%56315Not publishedNot statedClients paying by local bank transfer

What does Karbon Business charge?

Transaction typeFeeFX markupGST on feesBest for
Bank transfer to a Karbon virtual USD account1%120%Not statedClients paying by local bank transfer

How do PingPong and Karbon Business compare on settlement speed?

PingPong and Karbon Business 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.84Withdrawal 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.385Collecting marketplace and processor payouts34
Karbon BusinessKarbon says international payments reach India within 24 to 48 hours.1Paid in INR to the user's Indian bank account. Payout fee not published.12US bank transfers and marketplace payouts1

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

PingPong and Karbon Business 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.43

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.3910PingPong 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.1314151617Collecting marketplace and processor payouts34
Karbon BusinessKarbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.1Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.12167US bank transfers and marketplace payouts1

Which currencies, countries and payment methods do PingPong and Karbon Business support?

PingPong and Karbon Business 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.34Payment 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.341920PingPong'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.320Collecting marketplace and processor payouts34
Karbon BusinessKarbon names USD, EUR and GBP; the virtual account it describes is in USD.1Bank transfer to a virtual USD account (US account details in the user's name), payment requests or invoices sent by email or WhatsApp, and as a payout method on Upwork, Fiverr and Toptal.1Not published.US bank transfers and marketplace payouts1

What are the strengths and limitations of PingPong and Karbon Business?

PingPong and Karbon Business 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.34
  • You want to keep receipts in foreign currency through an EEFC account rather than convert every payment to INR.3
  • You want a free digital FIRC from the dashboard for each receipt.310

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.1613
  • The FX rate is set by PingPong at its discretion and no markup percentage is published.15
  • 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.15
  • The contracting entity for India is PingPong Global Solutions Inc., a New York corporation, with California law and courts.15

What are the strengths and limitations of Karbon Business?

Strengths:

  • Your clients can pay by US bank transfer to a USD account, or you are paid out by Upwork, Fiverr or Toptal.1
  • You want INR in your Indian bank and a FIRA for each receipt.1

Limitations:

  • No receiving fee, payout fee or FIRA cost is published.17
  • Karbon itself is not an RBI-authorised payment aggregator; export receipts run through a third party under separate terms.1612
  • The forex terms address incorporated users, while marketing pages address freelancers; eligibility for unregistered individuals is not published.121
  • Purpose code handling and card payment options are not published.1

Should you choose PingPong or Karbon Business?

Choose between PingPong and Karbon Business 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.34
  • You want to keep receipts in foreign currency through an EEFC account rather than convert every payment to INR.3
  • You want a free digital FIRC from the dashboard for each receipt.310

Choose Karbon Business if:

  • Your clients can pay by US bank transfer to a USD account, or you are paid out by Upwork, Fiverr or Toptal.1
  • You want INR in your Indian bank and a FIRA for each receipt.1

For example, say a designer invoices a US client USD 2,000. Because PingPong 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.15127

Which other platforms should you consider besides PingPong and Karbon Business?

Other platforms to consider besides PingPong and Karbon Business are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.222324252627303133353637394041

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets210.68%222324252627Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2628Skydo review
RazorpayLocal transfers from the US, UK and eurozone291.00 to 1.18%3031Razorpay 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.293231Razorpay review
WinvestaLocal transfers with a published per-payment fee33341.24%33353637Free 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.3635Winvesta review
PayoneerMarketplace payouts such as Amazon or Upwork381.00 to 4.00%394041Free 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.4142Payoneer 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]Karbon, Karbon for freelancers (checked 2026-10-28)
  2. [2]Karbon, PayPal alternative (checked 2026-10-28)
  3. [3]PingPong India, home page (checked 2026-10-28)
  4. [4]PingPong India, Freelancers and Service Providers (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]Karbon, Karbon FX Remittances, home page (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]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  13. [13]PingPong India, License and Regulation (checked 2026-10-28)
  14. [14]PingPong India, About Us (checked 2026-10-28)
  15. [15]PingPong Service Terms and Conditions, section 3.1, section 9.3 and Exhibit A (Applicable to Customer Location in India) (checked 2026-10-28)
  16. [16]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)
  17. [17]RBI: Master Direction on Regulation of Payment Aggregator, 15 September 2025, paragraphs 11(d) and 19
  18. [18]PingPong India Help Center, Are there any requirements to increase the amount of receiving accounts that I have? (checked 2026-10-28)
  19. [19]PingPong India Help Center, Can I receive funds from purchaser through wire transfer? (checked 2026-10-28)
  20. [20]PingPong India Help Center, What are the payment methods available for paying e-invoice? (checked 2026-10-28)
  21. [21]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  22. [22]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  23. [23]Skydo, Home page (checked 2026-10-28)
  24. [24]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  25. [25]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  26. [26]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  27. [27]Skydo, Terms of use (checked 2026-10-28)
  28. [28]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  29. [29]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  30. [30]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  31. [31]Razorpay, Pricing (checked 2026-10-28)
  32. [32]Razorpay Docs, FIRS Automated Process (checked 2026-10-28)
  33. [33]Winvesta FAQs, What are the charges for the global collections account? (checked 2026-10-28)
  34. [34]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  35. [35]Winvesta, Multi-currency account (checked 2026-10-28)
  36. [36]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  37. [37]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  38. [38]Payoneer, How to use Payoneer in India (last modified 18 September 2026, checked 2026-10-28)
  39. [39]Payoneer India, Payoneer Fees (checked 2026-10-28)
  40. [40]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  41. [41]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  42. [42]Payoneer India, Digital FIRC page (checked 2026-10-28)
  43. [43]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  44. [44]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, PingPong or Karbon Business?+

There is no cost verdict for a USD 5,000 bank transfer: karbon Business costs about 1.00 to 1.18%; PingPong does not publish full pricing.12 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 Karbon Business 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.3910 Karbon Business: Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.1

Can individual freelancers use PingPong and Karbon Business?+

PingPong: Individuals (personal account) and businesses registered as partnerships, corporations or sole proprietorships. LLPs are not named.11 Karbon Business: Karbon markets the service to freelancers, exporters and small businesses. Its forex terms require the user to be duly incorporated under the laws of India. Karbon does not publish whether an unregistered individual can sign up.112

Are PingPong and Karbon Business 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.1314151617 Karbon Business: Karbon does not appear in the RBI's list of authorised payment aggregators. Its forex terms, issued by Interropac Private Limited, say export receipts are processed subject to the connected user terms of a payment partner that the RBI lists as PA-CB I & O. Karbon says it works only with PA-CB licensed players and regulated banks.12167

How fast do PingPong and Karbon Business 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.84 Karbon Business: Karbon says international payments reach India within 24 to 48 hours.1

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

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, Karbon Business or a bank wire.44

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

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

How Karbon Business works for Indian freelancers and exporters receiving foreign payments: virtual USD account, payment partner, FIRA, markup claims, fees and limits.

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 Karbon Business Alternatives for Indian Exporters and Freelancers in 2026?

Karbon Business 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.