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

Razorpay is best known in India as a domestic payment gateway, but it also runs two products for businesses that bill clients abroad: international card and wallet acceptance, and the MoneySaver Export Account, which gives you virtual foreign bank account details for international bank transfers. This page covers only those cross-border products, as Razorpay describes them on its own pricing and documentation pages in October 2026.⁵⁶

Fees and features change. Check Razorpay's pages before you rely on any number here.

Is Razorpay good for Indian exporters and freelancers?

Razorpay suits Indian exporters whose clients in the US, UK or eurozone can pay by local bank transfer, and businesses that also want card checkout, provided their purpose code is on Razorpay's list.⁵⁶ The flat fee on smaller receipts and the invoice upload for each payment are the main trade-offs.⁷¹²

Use the sections below to check each point against your own invoices and clients.

What is Razorpay and who is Razorpay for?

Razorpay's international offering is two products: an international payment gateway for foreign cards and wallets, and virtual multi-currency accounts for international bank transfers, which Razorpay calls the MoneySaver Export Account.⁵⁶ With the MoneySaver account, a client pays into local account details in their own country, and Razorpay converts the money and settles INR into your Indian bank account.⁶

• Regulated by: the RBI list of authorised payment system operators dated 16 October 2026 shows Razorpay Payments Private Limited (formerly Razorpay Software Private Limited) as a Payment Aggregator: Online, Physical, and Cross Border for inward and outward transactions (PA-CB I and O).¹ PA-CB entities are regulated under RBI's Master Direction on Regulation of Payment Aggregators dated 15 September 2025.²
• Used by: Razorpay serves businesses registered in India and lists freelancers, consultants, SaaS companies, IT services firms and professional services firms among its use cases.¹⁴⁶
• Best for: Local transfers from the US, UK and eurozone.⁶

For example, a video editor on Upwork, a SaaS company billing by card, or a marketing consultant invoicing a German client in EUR can all use Razorpay if their purpose code is on its list.⁶

How do you open a Razorpay international payments account in India?

You open a Razorpay MoneySaver Export Account through Razorpay's online onboarding, with PAN details and a video KYC call.⁶

1. Choose your business type: Razorpay's onboarding accepts individuals, sole proprietorships, partnerships, private and public limited companies and LLPs; an individual uses a personal PAN and a firm uses its business PAN.¹⁴⁶
2. Add business documents: a firm adds its GSTIN certificate if registered and its Udyam certificate if it is an MSME.⁶
3. Complete video KYC: using Aadhaar and PAN.⁶
4. Select your purpose code: you choose it during international activation, and Razorpay's activation team verifies it.¹¹
5. Prepare for card payments if needed: international card acceptance needs a website with terms, privacy, refund and shipping policy pages, and approval from Razorpay's banking partners.⁹

The business must also fall under one of the export purpose codes on Razorpay's list, which includes P0802 (software consultancy), P1006 (business and management consultancy), P1007 (advertising), P1101 (audio-visual services) and P1107 (educational services).⁶

What are Razorpay fees and FX markup?

Razorpay charges 1% per MoneySaver bank transfer, GST applicable, with a flat fee of ₹1,000 on transactions below ₹1,00,000, and says it adds no FX markup.⁷ International cards cost up to 3% per successful transaction plus 18% GST.⁸

The full table, with what Razorpay does not publish, is on the Razorpay fees page.

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

The table below estimates the INR you receive through Razorpay on three invoice sizes, from Razorpay's published fees at today's exchange rate.⁷⁸

Receipts below ₹1,00,000 attract the ₹1,000 flat fee, which is more than 1% on smaller invoices.⁷

How fast does Razorpay settle payments to India?

Razorpay settles MoneySaver bank transfers in INR the next business day once an invoice is uploaded.⁶⁷ Settlement does not start until you upload an invoice and the buyer's address for each payment, except Amazon, Upwork and Freelancer transactions.¹²

• Bank transfers: next business day after the invoice is in.⁶⁷
• Invoice requirement: a valid invoice and buyer address for each payment.¹²

Keeping invoices ready before the client pays avoids most delays.

Does Razorpay provide FIRA and e-BRC, and is Razorpay RBI PA-CB authorised?

Razorpay issues a Foreign Inward Remittance Statement (FIRS) for bank transfers and a FIRC or eFIRC for card payments, and the RBI lists Razorpay Payments Private Limited as a PA-CB for inward and outward transactions.⁶⁸¹

Razorpay says its statements act as an alternative to bank-issued FIRS.¹⁰ See FIRC vs FIRA vs e-BRC for how these documents differ.

How does Razorpay set the purpose code?

You choose the purpose code yourself during international activation, and Razorpay's activation team verifies it.¹¹ Razorpay says the selected code applies to all your international transactions, and that you must update it before FIRS can be generated.¹¹¹⁰ Razorpay's MoneySaver list does not include P0807 (off-site software exports), so a software exporter who uses that code should raise it with Razorpay.⁶ For help picking a code, see purpose codes for freelancers.

How do the 2026 EDF and realisation rules apply to money received through Razorpay?

The FEMA (Export and Import of Goods and Services) Regulations, 2026 (the 2026 Regulations) apply to every service export from 1 October 2026, whichever platform the client uses.³ Every exporter of services gives an Export Declaration Form (EDF) to the specified authority, usually the AD bank, within 30 days from the end of the month of invoicing; exporters of non-software services may instead file it on or before the date payment is received.³ Payment must be realised within nine months from the invoice date, or twelve months if invoiced in rupees.⁴

Razorpay's international pages describe invoice upload, purpose codes and FIRS, but do not say who files the EDF for MoneySaver or card receipts, or which AD bank reports them.⁶¹⁰ Ask Razorpay and your chartered accountant how your EDF will be matched to these receipts. See EDPMS for service exporters and the export realisation period.

Which currencies, countries and payment methods does Razorpay support?

Razorpay supports bank transfers through USD (ACH), GBP (FPS), EUR (SEPA) and SWIFT accounts, Flash Links for US clients, and international cards and wallets.⁶¹³⁵

For example, a tutor paid by a parent in London could share GBP account details, while a design agency billing a New York client could share the USD ACH details or a Flash Link.⁶¹³

What are the pros and cons of Razorpay?

Razorpay's strengths are published low-percentage bank transfer pricing and RBI PA-CB status; its limits come from paperwork and the flat fee on small receipts.¹⁷¹²

Pros:

• RBI status: listed as a PA-CB for inward and outward transactions.¹
• FX: Razorpay says it adds no FX markup on MoneySaver transfers.⁷
• Speed: INR the next business day once the invoice is uploaded.⁶⁷
• Documents: FIRS within 24 hours of a bank transfer settling.⁶
• Choice of methods: bank transfer, Flash Links and cards on one dashboard.⁵⁶¹³
• No fixed charges: no setup or annual fee on the Standard plan.⁷

Cons:

• Invoice upload: settlement waits for an invoice and buyer address for each payment, except Amazon, Upwork and Freelancer.¹²
• Flat fee: receipts below ₹1,00,000 pay ₹1,000, more than 1% on smaller invoices.⁷
• No holding: you cannot hold foreign currency in the virtual accounts.⁶
• Refunds and reversals: no refunds on push bank transfers, and Flash Links payments can be reversed by chargeback.⁶¹³
• Card conditions: card acceptance needs a website with policy pages and partner-bank approval.⁹
• Purpose code list: P0807 is not on the MoneySaver list.⁶

Is Razorpay worth it for Indian exporters and freelancers?

Razorpay is worth considering for exporters whose clients pay by local transfer in USD, GBP or EUR and whose invoices are large enough that the 1% fee applies instead of the ₹1,000 flat fee.⁶⁷

• Larger bank transfer invoices: the percentage fee with no FX markup applies.⁷
• Mixed card and bank clients: both routes sit on one dashboard.⁵
• Small, frequent invoices: the flat fee below ₹1,00,000 weighs more.⁷
• P0807 software exporters: check the code with Razorpay first.⁶

For example, a consultant invoicing a US client by ACH would pay the percentage fee on a large invoice, while a tutor billing small monthly amounts would pay the flat fee on each receipt.⁷

What are the best alternatives to Razorpay?

The alternatives below are listed in the order of estimated cost on published fees that this site uses, cheapest first. The full list is on Razorpay alternatives.

Head-to-head pages: Razorpay vs Cashfree, Razorpay vs PayU and Wise vs Razorpay. Confirm compliance points with a chartered accountant.