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

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Short answer

Adyen 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: Winvesta is best for local transfers with a published per-payment fee, and Adyen is best for large businesses with an Indian entity.1567

Use caseBetter optionWhy
Bank transfer of USD 5,000Cannot compareWinvesta costs about 1.24%; Adyen does not publish full pricing.1234
Bank transfer of USD 2,000Cannot compareWinvesta costs about 1.35%; Adyen does not publish full pricing.1234
Client paying USD 2,000 by card or linkCannot compareNeither publishes full pricing for this case.
Winvesta is best forWinvestaLocal transfers with a published per-payment fee.15
Adyen is best forAdyenLarge businesses with an Indian entity.67

1,000 USD = ₹94,243 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#Provider and routeBest forFee (+GST)MarkupYou receiveCost
1Karbon BusinessLowest estimated costBank transfer to a Karbon virtual USD accountUS bank transfers and marketplace payouts₹942plus GST, rate not stated0%₹93,131 to ₹93,3011.00 to 1.18%
2RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹1,000plus GST, rate not stated0%₹93,063 to ₹93,2431.06 to 1.25%
3WinvestaThis pageGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,4350%₹92,8091.52%
4SkydoPayment link (InstaLinks) paid by ACH debitLocal bank transfers from major markets₹1,885plus GST, rate not stated0%₹92,019 to ₹92,3582.00 to 2.36%
5PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹0no GST stated1 to 4%₹90,473 to ₹93,3011.00 to 4.00%
6PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)Clients paying by card or PayPal balance₹4,175no GST stated3 to 4%₹86,465 to ₹87,3667.30 to 8.25%

Not estimated because pricing is not fully published: Cashfree Payments, Dodo Payments, PingPong, Stripe, Tazapay, TransFi, Wise.

Where a provider says GST applies to its fee but not at what rate, the range runs from no GST to 18%, the rate Skydo, Stripe and Winvesta state on their pages. Estimates use each provider's published fee, conversion markup, GST on fees and FIRA charge, checked 2026-10-28, against the reference rate. They exclude charges taken by intermediary banks and your own bank, and the rate a provider actually applies at the time of conversion. Check the provider's pricing page before you choose. The order is calculated only from these published numbers; no provider can pay to change its position, and there are no affiliate links.

How do Winvesta and Adyen compare at a glance?

Winvesta and Adyen 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.143

WinvestaAdyen
Best forLocal transfers with a published per-payment fee15Large businesses with an Indian entity67
FeesUp to 2,000 a month per currency: 0.99% plus a fixed fee per transaction ($3 for USD, EUR 5, GBP 5, AUD 10, SGD 10, other currencies the equivalent of $5). 2,000 to 100,000 a month: custom pricing. Above 100,000 a month: 0.2% per transaction with no fixed fee. Winvesta says 18% GST is levied on its fees for every non-JPMC account.1Not published for Indian exporters. Adyen's global pricing page shows indicative fees: $0.13 per transaction plus Interchange++ plus 0.60% for Visa and Mastercard, and $0.13 plus 3.95% for American Express.
FX markupWinvesta advertises 0% forex markup and zero FX on USD, and shows the exact FX rate applied and its booking time after each withdrawal. The reference rate is not published.28Not published.
SettlementUSD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.91011Not published.
FIRAFree 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.32Not published.
CurrenciesLocal account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).5121Not published for Indian exporters.
KYC: who can sign upFreelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1314Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.157
RBI PA-CB statusWinvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.161718The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.171519
SupportEmail support@winvesta.in; phone +91-(0)20-7117 8885, Monday to Friday, 10:00 am to 6:00 pm IST.2Not published for this use; Adyen's pricing page directs custom pricing and minimum invoice questions to its sales team.
LimitsWinvesta says there are no limits on incoming transactions in USD and 30 other currencies. Its FAQs give different maximum holding periods (30 days in one answer, 9 months in another).201221For its cross-border import product, Adyen restricts foreign merchants from selling goods or services priced above ₹25,00,000 per transaction. No limit is published for Indian exporters.19
How clients payLocal bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.5221211Not published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.
Card paymentsYes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1123Not published for foreign customers paying Indian businesses. Adyen's India compliance guide says its India rules apply to local acquiring and do not apply to cross-border payments.

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

The INR you receive with Winvesta and Adyen is the invoice at the reference rate, less each provider's fee, conversion markup, GST on fees and FIRA charge. The table works this out from published pricing at today's rate.

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
WinvestaMost INRGlobal Collections Account, standard plan (up to 2,000 a month per currency)Local transfers with a published per-payment fee₹1,85,951₹4,65,377₹9,31,0881.24%

Ranked by INR received on USD 5,000. Reference rate: European Central Bank data for 13 November 2026. Fees, conversion markup, GST on fees and FIRA charges as published by each provider, checked 28 October 2026. Ranges appear where a provider publishes a range or does not state its GST rate. Intermediary bank charges are excluded. See the methodology.

What is Winvesta and who is it for?

Winvesta is a Mumbai-based company whose Global Collections Account gives Indian businesses and freelancers local USD, EUR, GBP and CAD account details, with withdrawal to INR and a free e-FIRA.2123

  • Regulated by: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.161718
  • Used by: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1314
  • Best for: Local transfers with a published per-payment fee.15

What is Adyen and who is it for?

Adyen is a payments platform for enterprises; in India it is authorised by the RBI as an online payment aggregator and as a cross-border aggregator for outward (import) transactions, and it publishes no product for Indian exporters collecting from foreign customers.151719

  • Regulated by: The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.171519
  • Used by: Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.157
  • Best for: Large businesses with an Indian entity.67

How do Winvesta and Adyen fees and FX markup compare?

Winvesta and Adyen charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Winvesta charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections Account, standard plan (up to 2,000 a month per currency)0.99% + plus a fixed fee by currency12340%18%Clients paying by local bank transfer
Card payment through Winvesta payment linksNot published110%Not statedClients paying by card

What does Adyen charge?

  • Fees: Not published for Indian exporters. Adyen's global pricing page shows indicative fees: $0.13 per transaction plus Interchange++ plus 0.60% for Visa and Mastercard, and $0.13 plus 3.95% for American Express.43

How do Winvesta and Adyen compare on settlement speed?

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

PlatformSettlement timePayout to IndiaBest for
WinvestaUSD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.91011The user withdraws to an Indian bank account in INR after providing an invoice for the receipt. Priority withdrawal is available on request, typically for a $15 to $25 additional fee on USD.12444Local transfers with a published per-payment fee15
AdyenNot published.Not published.Large businesses with an Indian entity67

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

Winvesta and Adyen 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
WinvestaFree e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.32Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.161718Local transfers with a published per-payment fee15
AdyenNot published.The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.171519Large businesses with an Indian entity67

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

Winvesta and Adyen accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
WinvestaLocal account details in USD, EUR, GBP and CAD, plus SWIFT details for 30+ other currencies. Winvesta's pages give different totals (30+, 33 and 37+ currencies).5121Local bank transfer to account details in USD (ACH, Fedwire, RTP), EUR, GBP and CAD; SWIFT for other currencies; and card payments through payment links.5221211Yes, through payment links. The card fee (MDR) is not published; Winvesta's FAQ uses 3% only as an example, with GST charged on the MDR.1123Local transfers with a published per-payment fee15
AdyenNot published for Indian exporters.Not published for Indian exporters. For local processing in India Adyen lists cards (Visa, Mastercard, RuPay), UPI, online banking and wallets.Not published for foreign customers paying Indian businesses. Adyen's India compliance guide says its India rules apply to local acquiring and do not apply to cross-border payments.Large businesses with an Indian entity67

What are the strengths and limitations of Winvesta and Adyen?

Winvesta and Adyen each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Winvesta?

Strengths:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.51
  • You are a freelancer without a registered business who has a PAN and Aadhaar.13
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

Limitations:

  • Winvesta is not on the RBI's list of authorised payment aggregators and does not name its banking partner on its pages.1716
  • Each withdrawal needs an invoice with the purpose code and other mandatory fields.44
  • The fixed fee per transaction ($3 on USD) weighs more on small receipts.1
  • Card collection fees are not published.2311
  • Winvesta's own pages disagree on the number of currencies, the maximum holding period and card settlement time.121211011

What are the strengths and limitations of Adyen?

Strengths:

  • You are a large business with an Indian entity that needs domestic card, UPI and online banking acceptance in India on one platform.67
  • You are a foreign merchant selling to Indian buyers through Adyen's cross-border import product.19

Limitations:

  • Adyen's RBI cross-border authorisation is for outward (import) transactions, not inward export receipts.1719
  • Adyen publishes no product, fee, FIRA or purpose code process for Indian service exporters collecting from foreign customers.15437
  • Pricing shown is global and indicative, and a minimum invoice may apply depending on industry or business model.43
  • Adyen positions itself for enterprises; eligibility for freelancers or small agencies is not published.15

Should you choose Winvesta or Adyen?

Choose between Winvesta and Adyen by how your clients pay and your usual invoice size.

Choose Winvesta if:

  • Your clients pay by local transfer in USD, EUR, GBP or CAD and you want a published per-transaction fee.51
  • You are a freelancer without a registered business who has a PAN and Aadhaar.13
  • You want an e-FIRA showing the purpose code for each receipt at no charge.3

Choose Adyen if:

  • You are a large business with an Indian entity that needs domestic card, UPI and online banking acceptance in India on one platform.67
  • You are a foreign merchant selling to Indian buyers through Adyen's cross-border import product.19

For example, say a designer invoices a US client USD 2,000. Because Adyen 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.2843

Which other platforms should you consider besides Winvesta and Adyen?

Other platforms to consider besides Winvesta and Adyen are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.25262728293032333536394041

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets240.68%252627282930Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2931Skydo review
Karbon BusinessUS bank transfers and marketplace payouts321.00 to 1.18%3233Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.32Karbon Business review
RazorpayLocal transfers from the US, UK and eurozone341.00 to 1.18%3536Razorpay 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.343736Razorpay 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]Winvesta FAQ, What are the charges for the Global Collections Account? (checked 2026-10-28)
  2. [2]Winvesta, Multi-currency account (checked 2026-10-28)
  3. [3]Winvesta FAQ, When will I receive my e-FIRA certificate? (checked 2026-10-28)
  4. [4]Winvesta FAQ, Can I get priority processing for my withdrawal? (checked 2026-10-28)
  5. [5]Winvesta FAQs, What currencies are available with local accounts? (checked 2026-10-28)
  6. [6]Adyen press release, Adyen expands to India, 15 August 2024 (checked 2026-10-28)
  7. [7]Adyen Docs, Payments India compliance guide (checked 2026-10-28)
  8. [8]Winvesta FAQs, How can I view the FX rate for the conversion of my funds? (checked 2026-10-28)
  9. [9]Winvesta FAQs, How long does it take for funds to reach my Indian bank account? (checked 2026-10-28)
  10. [10]Winvesta FAQs, How does settlement work? Do I need to submit an invoice to withdraw funds? (checked 2026-10-28)
  11. [11]Winvesta, Card Collections via Payment Links (checked 2026-10-28)
  12. [12]Winvesta FAQs, What is a global collections account and how does it work? (checked 2026-10-28)
  13. [13]Winvesta FAQs, What documents do I need to open a global collection account as a freelancer? (checked 2026-10-28)
  14. [14]Winvesta FAQs, What documents do I need to open a global collections account as a business owner? (checked 2026-10-28)
  15. [15]Adyen India, home page (checked 2026-10-28)
  16. [16]Winvesta FAQs, How is Winvesta regulated? (checked 2026-10-28)
  17. [17]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators (PA-O, PA-P and PA-CB), list dated 16 October 2026 (checked 2026-10-28)
  18. [18]RBI: Status of Applications received under Payment and Settlement Systems Act, 2007, as on 16 October 2026 (checked 2026-10-28)
  19. [19]Adyen, India merchant onboarding policy overview, version 1.5, 9 June 2026 (checked 2026-10-28)
  20. [20]Winvesta FAQs, What are the transaction limits on my account? (checked 2026-10-28)
  21. [21]Winvesta FAQs, What is the maximum time I can keep funds in my GCA? (checked 2026-10-28)
  22. [22]Winvesta FAQs, How do I receive USD? (checked 2026-10-28)
  23. [23]Winvesta FAQs, My client paid ₹1,000, and their bank charged them a 2% fee. How does that affect me? (checked 2026-10-28)
  24. [24]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  25. [25]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  26. [26]Skydo, Home page (checked 2026-10-28)
  27. [27]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  28. [28]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  29. [29]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  30. [30]Skydo, Terms of use (checked 2026-10-28)
  31. [31]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  32. [32]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  33. [33]Karbon, PayPal alternative (checked 2026-10-28)
  34. [34]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  35. [35]Razorpay, MoneySaver Export Account (international bank transfers) (checked 2026-10-28)
  36. [36]Razorpay, Pricing (checked 2026-10-28)
  37. [37]Razorpay Docs, FIRS Automated Process (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]Adyen, Pricing (global page, checked 2026-10-28)
  44. [44]Winvesta FAQs, What GST invoice do I need to withdraw funds? (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, Winvesta or Adyen?+

There is no cost verdict for a USD 5,000 bank transfer: winvesta costs about 1.24%; Adyen does not publish full pricing.1234 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Winvesta and Adyen give a FIRA to Indian exporters?+

Winvesta: Free e-FIRA, emailed within 24 hours of funds reaching the Indian bank account and downloadable from the dashboard; it shows the purpose code and exchange rate.32 Adyen: Not published.

Can individual freelancers use Winvesta and Adyen?+

Winvesta: Freelancers (PAN, Aadhaar, a marketing channel link and bank details) and businesses (the same plus business registration details). Winvesta publishes a list of restricted business types.1314 Adyen: Adyen describes itself as a platform for enterprises. To process payments locally in India, Adyen requires a local entity in India and a separate company account. Eligibility of Indian freelancers or small exporters is not published.157

Are Winvesta and Adyen authorised by the RBI?+

Winvesta: Winvesta says Winvesta India Technologies Private Limited is an online payment gateway service provider that facilitates cross-border collections under the RBI's regulations. It does not appear in the RBI's list of authorised payment aggregators dated 16 October 2026 or in the RBI's PA-CB application status tables as on that date.161718 Adyen: The RBI lists Adyen India Technology Services Private Limited as an online payment aggregator (PA-O, 15 July 2024) and as PA-CB-O, a cross-border payment aggregator facilitating outward transactions. Adyen's India onboarding policy describes its cross-border product as the Payment Aggregator Cross Border Import solution for foreign merchants. Adyen is not listed for inward (export) cross-border transactions.171519

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

Winvesta: USD withdrawals reach the bank 1 business day after processing, EUR and GBP 2 business days, with a 1:00 PM IST cut-off. Card collections settle T+1 working day per the FAQ and T+2 days per the payment links page.91011 Adyen: Not published.43

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

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 Winvesta, Adyen 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.