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Wise, Airwallex or Skydo: The Best Payoneer Alternatives for India

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Editorial team, serviceexportguide.com
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Short answer

Skydo charges USD 19 up to USD 2,000 and USD 29 up to USD 10,000, plus GST.1 Skydo was authorised as PA-CB I & O on 8 January 2026 and Wise as PA-CB I on 12 March 2026.2 Airwallex publishes no India pricing page.3 Payoneer charges 1% to 4% to withdraw to INR.4

Applies toRules involvedPlatforms comparedLast verified
Indian freelancers and businesses receiving USD56PA-CB authorisation; EDF and 9-month realisation from 1 October 2026278Skydo, Razorpay, Karbon Business, Payoneer, Airwallex, Wise231 October 2026

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.

Wise, Airwallex and Skydo are three Payoneer alternatives for India with different strengths, and the right one depends on who you are and how your client pays. Skydo prices by invoice band, USD 19 up to USD 2,000 and USD 29 up to USD 10,000 plus GST, and is on RBI's list as a cross-border payment aggregator.12 Wise suits bank transfers to local account details through a Wise Business account, and Airwallex suits registered businesses, onboarded by its Singapore entity.9103 This page lays the three side by side with Payoneer on the same criteria and does not name one winner. The full list is on Payoneer alternatives.

How do Wise, Airwallex, Skydo and Payoneer compare for receiving USD in India?

Wise, Airwallex, Skydo and Payoneer all give foreign clients account details and pay rupees into an Indian bank, but they publish different parts of their cost and hold different RBI status.91112132 The table adds the three lowest-cost providers for a USD 5,000 receipt on published fees, ordered by estimated cost, cheapest first, then providers without enough published pricing to estimate, A to Z.11415

PlatformBest forFeeFX markupSettlementFIRARBI PA-CB statusSource
SkydoLocal bank transfers from major markets12USD 19 up to USD 2,000, USD 29 up to USD 10,000, 0.3% above, plus GST10% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)165Within 24 hours (product page); T+1 to T+3 business days (terms)165Free FIRA on every payment16PA-CB I & O, authorised 8 January 20262Official pages121162
RazorpayLocal transfers from the US, UK and eurozone17Bank transfers 1% (flat ₹1,000 below ₹1,00,000); cards up to 3%; GST extra14180% on MoneySaver bank transfers14T+1 for bank transfers; T+7 working days for cards1719FIRS emailed within 24 hours of settlement17PA-CB I & O2Official pages171418192
Karbon BusinessUS bank transfers and marketplace payouts201% transaction fee on its PayPal comparison page150% (freelancer page); 0.5% to 1.0% (PayPal alternative page)201524 to 48 hours20FIRA for every transaction from a banking partner20Not on the RBI list itself; its terms run export receipts under a partner the RBI lists as a PA-CB212Official pages2015212
PayoneerMarketplace payouts such as Amazon or Upwork13Free to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page); card requests 2.90% + $0.492241% to 4% to withdraw to INR from another currency4Within 24 hours (multi-currency account page); within 48 hours (pricing page)422Free digital FIRA per transaction from a partner AD bank23In-principle PA-CB authorisation on 22 January 2026; not on the authorised list24252Official pages132242324252
AirwallexRegistered businesses paid by bank transfer10No India pricing page; Singapore schedule lists 0% collections in most currencies326Singapore schedule: 0.40% for majors, 0.60% for a list that includes INR260 to 2 business days for local INR payouts11FIRC on request through support; fee not published27Not on the RBI payment aggregator list2Official pages1032611272
WiseBank transfers to local account details9Equivalent of USD 2 per transfer to the INR account (help article); free e-FIRC (receive pricing page)928Conversion fee varies by currency; no INR percentage published28INR in 1 to 2 days9e-FIRC per transfer within 3 working days9PA-CB I, authorised 12 March 20262Official pages9282

Head-to-head pages: Payoneer vs Skydo, Wise vs Skydo and Airwallex vs Skydo.

Which platforms are named as Payoneer alternatives in India, and can Indian exporters use them?

The platforms named as Payoneer alternatives in India accept different kinds of Indian exporter: Skydo's terms cover individuals and businesses, Wise needs a business account, and Airwallex needs a registered business.5610

PlatformWho can sign upReceives export payments into India?Best for
SkydoIndividuals aged 18 or over, proprietorships and companies, for business payments only5Yes, through local account details and a SWIFT account12Local bank transfers from major markets12
RazorpayIndian businesses with Razorpay KYC; MoneySaver lists individuals, proprietorships, partnerships, LLPs and companies17Yes, by ACH, FPS, SEPA or SWIFT to virtual account details17Local transfers from the US, UK and eurozone17
Karbon BusinessIts forex terms require a user incorporated under the laws of India21Yes, by transfer to a virtual USD account20US bank transfers and marketplace payouts20
PayoneerFreelancers and businesses verified with ID such as Aadhaar or PAN22Yes, with automatic withdrawal to an Indian bank in INR13Marketplace payouts such as Amazon or Upwork13
AirwallexRegistered companies, LLPs, partnerships and GST-registered proprietorships; no route listed for unregistered individuals10Onboarded by the Singapore entity; INR payouts to Indian banks by NEFT, IMPS, RTGS or SWIFT311Registered businesses paid by bank transfer10
WiseWise Business only: sole traders, proprietorships, private limited companies, LLPs and general partnerships6Yes for Wise Business; Wise personal accounts in India cannot receive money929Bank transfers to local account details9
  • Individual freelancers: Skydo, Payoneer and Wise (as a sole trader) list individuals among eligible users.5226
  • Registered businesses: Airwallex requires a GST Registration Certificate from proprietorships and partnerships.10
  • RBI status: Skydo and Razorpay are listed as PA-CB I & O and Wise as PA-CB I; Airwallex is not on the list.2

What does each Payoneer alternative charge in India?

Each Payoneer alternative in India charges in a different structure: Skydo a fixed fee by band, Wise a small per-transfer fee plus conversion, Airwallex a conversion margin, and Payoneer a withdrawal fee to INR.19264

PlatformBank transfer routeCard or link routeConversionBest for
SkydoUSD 19 up to USD 2,000, USD 29 up to USD 10,000, 0.3% above, plus GST1InstaLinks ACH Debit 2%, minimum $9; no card fee published300% markup on the mid-market rate (product page); retail rate set by Skydo or its partner banks (terms)165Local bank transfers from major markets12
Razorpay1% per transaction, flat ₹1,000 below ₹1,00,000, GST extra14Up to 3% plus 18% GST180% on bank transfers; card markup not published14Local transfers from the US, UK and eurozone17
Karbon Business1% transaction fee on its PayPal comparison page15Not published200% (freelancer page); 0.5% to 1.0% (PayPal alternative page)2015US bank transfers and marketplace payouts20
PayoneerFree to receive (multi-currency account page); fixed fee or 1% for non-local currencies (pricing page)224Card 2.90% + $0.49; US ACH debit 1%41% to 4% to withdraw to INR4Marketplace payouts such as Amazon or Upwork13
AirwallexSingapore schedule: 0% collections in most currencies26India eligibility for cards not published260.40% majors, 0.60% list incl. INR (Singapore schedule)26Registered businesses paid by bank transfer10
WiseEquivalent of USD 2 per transfer to the INR account (help article); free e-FIRC (receive pricing page)928Card acceptance not available for India-based businesses31Varies by currency; no INR percentage published28Bank transfers to local account details9

Above USD 10,000, Skydo charges 0.3% plus GST, and payments above USD 100K a month are priced on request.1

Which option is cheapest at $500, $2,000 and $5,000?

The cheapest option shifts with invoice size because Skydo's fee is fixed within each band while Payoneer's is a percentage. The table below uses published fees at today's rate for providers this site can estimate.14

PlatformBest forINR on USD 2,000INR on USD 5,000INR on USD 10,000Cost on USD 5,000
SkydoMost INRTransfer to Skydo local account details or international SWIFT accountLocal bank transfers from major markets₹1,86,373₹4,67,991₹9,39,2060.68%
Karbon BusinessBank 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%
RazorpayMoneySaver Export Account: bank transfer to virtual account details (Standard plan)Local transfers from the US, UK and eurozone₹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%
PayoneerLocal bank transfer to Payoneer receiving account detailsMarketplace payouts such as Amazon or Upwork₹1,80,947 to ₹1,86,601₹4,52,367 to ₹4,66,503₹9,04,734 to ₹9,33,0071.00 to 4.00%

Not estimated because pricing for USD is not fully published: Wise.

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.

For example, Skydo's fee is 1.9% of a USD 1,000 invoice (USD 19) and 0.58% of a USD 5,000 invoice (USD 29), before GST, while Payoneer's withdrawal fee to INR stays at 1% to 4% at both sizes.14 Wise's USD 2 equivalent fee (India help article; its India receive pricing page describes a free e-FIRC) is 0.04% of USD 5,000, plus a conversion fee not published as a percentage.928

What documents do you get from each Payoneer alternative?

Each Payoneer alternative gives a proof of receipt for every payment or on request. Skydo says it issues a free FIRA on every payment, Wise an e-FIRC per transfer, and Airwallex an FIRC on request.16927

PlatformProof of receiptHow you get itBest for
SkydoFree FIRA on every payment16Issued for each receiptLocal bank transfers from major markets12
RazorpayForeign Inward Remittance Statement (FIRS)17Emailed within 24 hours after settlementLocal transfers from the US, UK and eurozone17
Karbon BusinessFIRA from an unnamed banking partner20For every transactionUS bank transfers and marketplace payouts20
PayoneerDigital FIRA from a partner AD bank23Within 24 to 72 hours, in Reports and statementsMarketplace payouts such as Amazon or Upwork13
AirwallexFIRC from a bank partner27On request through the support chatbotRegistered businesses paid by bank transfer10
Wisee-FIRC9Emailed within 3 working daysBank transfers to local account details9

The e-BRC is self-certified on the DGFT portal from your bank's inward remittance messages.32 See FIRC vs FIRA vs e-BRC.

What changes in 2026 for Indian exporters choosing a Payoneer alternative?

Indian exporters choosing a Payoneer alternative in 2026 face the new FEMA export regulations from 1 October 2026 and a longer list of authorised providers.72

  • 2026 Regulations: The Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 came into force on 1 October 2026 and replaced the 2015 Regulations.7
  • EDF for every service exporter: From 1 October 2026 every exporter of services gives an Export Declaration Form (EDF) to the AD bank within 30 days from the end of the month of invoicing, and non-software exporters may instead file it on or before the date payment is received.7
  • SOFTEX: RBI Circular No. 20 supersedes the earlier SOFTEX circulars with effect from 1 October 2026.33
  • Realisation period: Export proceeds must be realised within nine months from the invoice date, or twelve months if invoiced or settled in Indian rupees.8
  • PA-CB limit: A cross-border payment aggregator (PA-CB) can handle up to ₹25 lakh per transaction, for inward and outward transactions.34
  • New authorisations: Skydo was authorised on 8 January 2026 and Wise on 12 March 2026; Payoneer received in-principle PA-CB authorisation on 22 January 2026.224

See PA-CB licence list and EDF for service exporters.

How did we verify this?

We checked this page against the sources below on 31 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]Skydo FAQs, How much does Skydo charge? (checked 2026-10-28)
  2. [2]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 (Payment Aggregators and PPI issuers), list dated 30 October 2026 (checked 2026-10-31)
  3. [3]Airwallex Help Centre, Eligible Countries and Territories (checked 2026-10-28)
  4. [4]Payoneer India, Payoneer Fees (checked 2026-10-28)
  5. [5]Skydo, Terms of Use, last updated 9 April 2026 (checked 2026-10-28)
  6. [6]Wise Help Centre, How to verify your Indian business to receive payments (checked 2026-10-28)
  7. [7]RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, FEMA 23(R)/2026-RB, amended up to 22 September 2026, regulations 3 and 4
  8. [8]RBI: Notification FEMA 23(R)/(1)/2026-RB dated 22 September 2026, amending regulation 5 (realisation period)
  9. [9]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  10. [10]Airwallex Help Centre, Documents required for companies in South East Asia (India section) (checked 2026-10-28)
  11. [11]Airwallex Docs, Payout network: bank accounts, India (checked 2026-10-28)
  12. [12]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  13. [13]Payoneer, How to use Payoneer in India (last modified 18 September 2026) (checked 2026-10-28)
  14. [14]Razorpay, Multi-Currency Account for International Bank Transfers (MoneySaver Export Account pricing) (checked 2026-10-28)
  15. [15]Karbon Business, PayPal Alternative comparison page (checked 2026-10-28)
  16. [16]Skydo, Receive international payments as a freelancer in India (product page) (checked 2026-10-28)
  17. [17]Razorpay Docs, International Bank Transfer (MoneySaver Export Account) (checked 2026-10-28)
  18. [18]Razorpay, Pricing, International Payments and International Bank Transfers tabs (checked 2026-10-28)
  19. [19]Razorpay Docs, International Payments FAQs (checked 2026-10-28)
  20. [20]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  21. [21]Karbon Forex Terms and Conditions, Interropac Private Limited (checked 2026-10-28)
  22. [22]Payoneer India, Multi-currency account page and FAQs (checked 2026-10-28)
  23. [23]Payoneer Help Center, Digital FIRA FAQ (checked 2026-10-28)
  24. [24]Payoneer press release, Payoneer receives in-principle authorization as Cross-Border Payment Aggregator in India, 22 January 2026 (checked 2026-10-28)
  25. [25]RBI: Status of Applications received under the Payment and Settlement Systems Act, 2007, as on 16 October 2026, Tables D and E (checked 2026-10-28)
  26. [26]Airwallex Singapore, Fee schedule, last updated 10 October 2026 (checked 2026-10-28)
  27. [27]Airwallex Help Centre, What is an FIRC and how do I get one? (checked 2026-10-28)
  28. [28]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  29. [29]Wise India, Receive pricing (personal accounts) (checked 2026-10-28)
  30. [30]Skydo FAQs, What are the fees for using Payment Links? (checked 2026-10-28)
  31. [31]Wise Help Centre, Getting paid to your Wise Business by card, Apple Pay or Google Pay (checked 2026-10-28)
  32. [32]DGFT: eBRC system, self-certification of eBRC from bank IRMs, Trade Notice 33/2023-24 dated 10 November 2023
  33. [33]RBI: A.P. (DIR Series) Circular No. 20 dated 16 January 2026
  34. [34]RBI: Master Direction on Regulation of Payment Aggregator dated 15 September 2025, paragraph 11(d) (transaction limit)

Frequently asked questions

Is Skydo a good Payoneer alternative for Indian freelancers?+

Skydo suits freelancers whose clients pay by local bank transfer in the US, UK, UAE, Canada, Europe, Australia or Singapore. It charges USD 19 up to USD 2,000 and USD 29 up to USD 10,000, plus GST, issues a free FIRA per payment, and is an RBI-listed PA-CB.121162

Skydo vs Wise: which gives a FIRA in India?+

Both do. Skydo says it issues a free FIRA on every payment received. Wise emails an e-FIRC for each transfer to the registered address within 3 working days, also downloadable from the transfer page. Keep each document with the matching invoice for GST and the bank.169

Can I receive USD in India with Airwallex as a freelancer?+

Airwallex's India document list covers companies, LLPs, partnerships and GST-registered proprietorships, and lists no route for unregistered individual freelancers. A registered business receives USD to Global Account details and pays out INR to an Indian bank in 0 to 2 business days.1011

How fast do Skydo, Wise and Payoneer settle to an Indian bank?+

Skydo's product page says within 24 hours and its terms say T+1 to T+3 business days.165 Wise says the INR payment reaches the bank within 1 to 2 days. Payoneer's multi-currency account page says within 24 hours of receipt and its pricing page says within 48 hours.224 Times run from when the provider receives the client's money.169422

Which Payoneer alternatives are RBI-authorised PA-CBs?+

RBI's payment aggregator list dated 30 October 2026 shows Skydo and Razorpay as PA-CB I & O and Wise as PA-CB I. Airwallex does not appear, and Payoneer holds in-principle authorisation only. Check the list yourself before signing up.225

What does Skydo charge on a USD 15,000 payment?+

Above USD 10,000, Skydo says it charges 0.3% plus GST, so a USD 15,000 payment costs 0.3% of the amount before GST. Payments above USD 100K a month are priced on request. Skydo's product page says conversion is at a live mid-market rate with 0% markup, and its terms say conversion uses a retail rate set by Skydo or its partner banks.1165

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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