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Wise vs Cashfree Payments (2026): Which Is Better for Receiving International Payments in India?

Author:
Editorial team, serviceexportguide.com
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Editorial team
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14 min read

Short answer

Neither Wise nor Cashfree Payments 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: Wise is best for bank transfers to local account details, and Cashfree Payments is best for registered businesses paid by local transfer.123

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.
Wise is best forWiseBank transfers to local account details.1
Cashfree Payments is best forCashfree PaymentsRegistered businesses paid by local transfer.23

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 Wise and Cashfree Payments compare at a glance?

Wise and Cashfree Payments 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.14567

WiseCashfree Payments
Best forBank transfers to local account details1Registered businesses paid by local transfer23
FeesWise's India help article says it charges an equivalent of 2 USD in the received currency for the transfer to the INR bank account that issues the e-FIRC. Wise's India receive pricing page describes a free eFIRC for every transfer. The general Wise Business fee table on Wise's India site lists 6.11 USD per USD wire or Swift payment, 2.16 GBP per GBP Swift payment and 2.39 EUR per EUR Swift payment, with domestic (non-Swift, non-wire) payments free; Wise's India-specific receive pages do not repeat these Swift fees. 18% GST applies to Wise fees.145Global Collections: Not published. The pricing page shows 'Request Price' and describes a 'Low, processing fee; no hidden charges'. Cashfree says there is no setup cost.67
FX markupMid-market exchange rate plus a conversion fee that Wise says depends on the currency. No percentage is published for conversion to INR; the amount is shown in Wise's calculator.48Cashfree says Global Collections has no forex markup and that it handles conversion to INR in real time. The exchange rate used and any spread are not published.972
SettlementWise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.1Global Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.710
FIRAAn e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.14Cashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.791110
Currencies24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.1Global Collections local account details in USD, EUR, CAD and GBP, plus SWIFT. Cashfree's documentation lists 17 supported currencies; its marketing pages say 30+ currencies from 180+ countries. The card gateway is described as accepting 140+ currencies.3910
KYC: who can sign upWise Business only: sole traders or freelancers (personal PAN and an INR bank account in their own name), sole proprietorships, private limited companies, LLPs and general partnerships. Other business types are not currently onboarded. Wise personal accounts in India cannot receive money.1213Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.62
RBI PA-CB statusRBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.141Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.15911
SupportNot published on the India receiving pages checked.Support form in the merchant dashboard and an account manager; Global Collections onboarding is through Contact Sales. Enterprise customers get a dedicated account manager and WhatsApp support.1129
LimitsMinimum 5 USD or equivalent and maximum 2.5 million INR (₹25 lakh) or equivalent per transaction; payments outside these limits are returned to the sender. RBI caps each PA-CB inward or outward transaction at ₹25 lakh.116Global Collections: invoice value up to USD 10,000 per transaction, per Cashfree; no daily or monthly cap on the number of transactions. The RBI Master Direction sets ₹25 lakh per transaction for PA-CB export transactions.11716
How clients payThe client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.18Global Collections: local bank transfer to collection account details (ACH in the US, SEPA in Europe, EFT in Canada, Faster Payments in the UK) or SWIFT. International Payment Gateway: international cards (Visa, Mastercard, American Express) on a checkout, and PayPal through the merchant's own linked PayPal account.31017
Card paymentsNot available for India-based businesses: Wise lists card acceptance only for Wise Business accounts in the EEA, UK, Australia, Hong Kong, New Zealand, Singapore, Canada and the US.18Yes, through the International Payment Gateway. Published platform fee: 2.99% for Visa and Mastercard international cards, 2.95% for American Express. PayPal is charged at PayPal's own rates; Cashfree says it adds no gateway charge for PayPal.69

How much INR do you receive on $2,000, $5,000 and $10,000 with Wise vs Cashfree Payments?

The INR you receive with Wise and Cashfree Payments 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: Cashfree Payments, 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.

What is Wise and who is it for?

Wise is a money transfer company whose Wise Business account gives Indian businesses and freelancers account details in other currencies, converts what they receive to INR and sends it to their Indian bank account.18

  • Regulated by: RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.141
  • Used by: Wise Business only: sole traders or freelancers (personal PAN and an INR bank account in their own name), sole proprietorships, private limited companies, LLPs and general partnerships. Other business types are not currently onboarded. Wise personal accounts in India cannot receive money.1213
  • Best for: Bank transfers to local account details.1

What is Cashfree Payments and who is it for?

Cashfree Payments is a Bengaluru-based payment company, authorised by the RBI as a cross-border payment aggregator for inward and outward transactions, whose Global Collections product gives Indian businesses local collection account details abroad and settles receipts in INR.1523

  • Regulated by: Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.15911
  • Used by: Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.62
  • Best for: Registered businesses paid by local transfer.23

How do Wise and Cashfree Payments fees and FX markup compare?

Wise and Cashfree Payments charge in different ways, so compare the fee and the conversion markup together, not the headline fee alone.

What does Wise charge?

Transaction typeFeeFX markupGST on feesBest for
Local (domestic, non-Swift, non-wire) transfer to Wise local account detailsUSD 2415Not published18%Clients paying by local bank transfer
Wire or Swift payment to Wise account detailsUSD 2 + plus a fixed fee by currency415Not published18%Clients paying by international wire

What does Cashfree Payments charge?

Transaction typeFeeFX markupGST on feesBest for
Global Collections: local account details or Global SWIFT AccountNot published760%Not statedClients paying by local bank transfer
International Payment Gateway: Visa or Mastercard international cards2.99%6Not publishedNot statedClients paying by card
International Payment Gateway: American Express2.95%6Not publishedNot statedClients paying by card

How do Wise and Cashfree Payments compare on settlement speed?

Wise and Cashfree Payments publish these settlement times for money reaching an Indian bank account.

PlatformSettlement timePayout to IndiaBest for
WiseWise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.1Automatic: Wise converts each payment to INR and sends it to the verified Indian bank account given during verification. Indian users cannot hold the foreign currency, and the account details cannot be used to send money. No separate withdrawal fee is published beyond the e-FIRC transfer fee.1Bank transfers to local account details1
Cashfree PaymentsGlobal Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.710Automatic. Receipts are converted to INR and settled to the exporter's Indian bank account; Cashfree says balances cannot be held in foreign currency or settled to a foreign currency account. No separate withdrawal fee is published.27Registered businesses paid by local transfer23

Do Wise and Cashfree Payments provide FIRA and e-BRC, and are they RBI PA-CB authorised?

Wise and Cashfree Payments 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.38

PlatformFIRARBI PA-CB statusBest for
WiseAn e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.14RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.141Bank transfers to local account details1
Cashfree PaymentsCashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.791110Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.15911Registered businesses paid by local transfer23

Which currencies, countries and payment methods do Wise and Cashfree Payments support?

Wise and Cashfree Payments accept the currencies and payment methods below, as each publishes them.

PlatformCurrenciesHow clients payCard paymentsBest for
Wise24 currencies: local account details in 11 currencies and international account details in 13 more, from 140+ countries, according to Wise.1The client pays to the business's Wise account details from their own bank (local transfer, wire or SWIFT) or from a Wise account.18Not available for India-based businesses: Wise lists card acceptance only for Wise Business accounts in the EEA, UK, Australia, Hong Kong, New Zealand, Singapore, Canada and the US.18Bank transfers to local account details1
Cashfree PaymentsGlobal Collections local account details in USD, EUR, CAD and GBP, plus SWIFT. Cashfree's documentation lists 17 supported currencies; its marketing pages say 30+ currencies from 180+ countries. The card gateway is described as accepting 140+ currencies.3910Global Collections: local bank transfer to collection account details (ACH in the US, SEPA in Europe, EFT in Canada, Faster Payments in the UK) or SWIFT. International Payment Gateway: international cards (Visa, Mastercard, American Express) on a checkout, and PayPal through the merchant's own linked PayPal account.31017Yes, through the International Payment Gateway. Published platform fee: 2.99% for Visa and Mastercard international cards, 2.95% for American Express. PayPal is charged at PayPal's own rates; Cashfree says it adds no gateway charge for PayPal.69Registered businesses paid by local transfer23

What are the strengths and limitations of Wise and Cashfree Payments?

Wise and Cashfree Payments each suit some exporters better than others. These points come from each provider's own pages.

What are the strengths and limitations of Wise?

Strengths:

  • Your clients are willing to pay by bank transfer to local account details in USD, GBP, EUR or another supported currency.1
  • You want an e-FIRC issued for each payment received.1
  • You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.12
  • Individual payments are between 5 USD and ₹25 lakh equivalent.1

Limitations:

  • Indian businesses cannot accept card payments through Wise.18
  • Money cannot be held in foreign currency; every receipt is converted to INR.1
  • No conversion fee percentage is published for INR, so the cost of a receipt can only be seen in Wise's calculator.4
  • Single payments above ₹25 lakh equivalent are returned to the sender.1
  • Wise's own pages differ on whether the e-FIRC is free or covered by a 2 USD equivalent fee.14
  • Business types other than sole traders, sole proprietorships, private limited companies, LLPs and general partnerships are not currently onboarded.12

What are the strengths and limitations of Cashfree Payments?

Strengths:

  • You bill through a registered Indian business and want overseas clients to pay by local transfer in USD, EUR, CAD or GBP, with INR settled automatically.23
  • Your invoices are each up to USD 10,000.11
  • You also want a card checkout for international clients, with a published platform fee.610

Limitations:

  • Global Collections pricing is not published; Cashfree quotes it on request.6
  • Cross-border payments are available only to businesses, so individuals without a registered business cannot use Global Collections per Cashfree.62
  • Invoice value is capped at USD 10,000 per transaction for Global Collections.11
  • Foreign currency balances cannot be held; all receipts settle in INR.7

Should you choose Wise or Cashfree Payments?

Choose between Wise and Cashfree Payments by how your clients pay and your usual invoice size.

Choose Wise if:

  • Your clients are willing to pay by bank transfer to local account details in USD, GBP, EUR or another supported currency.1
  • You want an e-FIRC issued for each payment received.1
  • You are a freelancer without a registered business, since Wise Business accepts sole traders verified with a personal PAN.12
  • Individual payments are between 5 USD and ₹25 lakh equivalent.1

Choose Cashfree Payments if:

  • You bill through a registered Indian business and want overseas clients to pay by local transfer in USD, EUR, CAD or GBP, with INR settled automatically.23
  • Your invoices are each up to USD 10,000.11
  • You also want a card checkout for international clients, with a published platform fee.610

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.48972

Which other platforms should you consider besides Wise and Cashfree Payments?

Other platforms to consider besides Wise and Cashfree Payments are the ones with the lowest estimated cost on a USD 5,000 receipt, listed in that order.2021222324252728303133353637

PlatformBest forEstimated cost on USD 5,000FIRAReview
SkydoLocal bank transfers from major markets190.68%202122232425Skydo says it issues a free FIRA on every payment received, and that its FIRA and FIRC are accepted for GST filing and by banks.2426Skydo review
Karbon BusinessUS bank transfers and marketplace payouts271.00 to 1.18%2728Karbon says it provides a FIRA for every transaction, issued by its licensed banking partner, which it does not name. Cost not published.27Karbon Business 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

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]Wise Help Centre, Receiving payments for Indian businesses (checked 2026-10-28)
  2. [2]Cashfree Payments Docs, Global Collections overview (checked 2026-10-28)
  3. [3]Cashfree Payments Docs, Global Collections: Collection Accounts (checked 2026-10-28)
  4. [4]Wise India, Fees for getting paid (Wise Business receive pricing) (checked 2026-10-28)
  5. [5]Wise India site, Wise Business pricing, fees at a glance (checked 2026-10-28)
  6. [6]Cashfree Payments, Payment Gateway Charges (India), International Cards, Global Collections and Cross Border FAQ (checked 2026-10-28)
  7. [7]Cashfree Payments, Global Collections: International wire transfer for Indian businesses (checked 2026-10-28)
  8. [8]Wise India, Receive international payments (checked 2026-10-28)
  9. [9]Cashfree Payments, Cross Border Payment solutions: Accept international payments (checked 2026-10-28)
  10. [10]Cashfree Payments Docs, International Payment Gateway (IPG) overview (checked 2026-10-28)
  11. [11]Cashfree Payments Docs, Global Collections FAQs (checked 2026-10-28)
  12. [12]Wise Help Centre, How to verify your Indian business to receive payments (checked 2026-10-28)
  13. [13]Wise India, Receive pricing (personal accounts) (checked 2026-10-28)
  14. [14]RBI: Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, Payment Aggregators list dated 16 October 2026 (checked 2026-10-28)
  15. [15]RBI, Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007 for setting up and operating payment systems in India, Payment Aggregators table (checked 2026-10-28)
  16. [16]RBI: Master Direction on Regulation of Payment Aggregators, 15 September 2025, paragraph 11(d)
  17. [17]Cashfree Payments Docs, PayPal for International Payments (checked 2026-10-28)
  18. [18]Wise Help Centre, Getting paid to your Wise Business by card, Apple Pay or Google Pay (checked 2026-10-28)
  19. [19]Skydo FAQs, What countries can I get paid locally through Skydo? (checked 2026-10-28)
  20. [20]Skydo FAQ, How much does Skydo charge? (checked 2026-10-28)
  21. [21]Skydo, Home page (checked 2026-10-28)
  22. [22]Skydo FAQ, Who will bear the SWIFT charges? (checked 2026-10-28)
  23. [23]Skydo FAQ, Limitations and restrictions on receiving your foreign remittance via Skydo (checked 2026-10-28)
  24. [24]Skydo, Receive international payments in India as a freelancer (checked 2026-10-28)
  25. [25]Skydo, Terms of use (checked 2026-10-28)
  26. [26]Skydo FAQs, What is accepted for GST filings and banks between FIRA and FIRC? (checked 2026-10-28)
  27. [27]Karbon Business, Karbon for Freelancers (checked 2026-10-28)
  28. [28]Karbon, PayPal alternative (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]DGFT: eBRC services (self-generation of e-BRC from bank inward remittance data)
  39. [39]GST Portal user guide: Furnishing of Letter of Undertaking (FORM GST RFD-11)

Frequently asked questions

Which is cheaper for Indian exporters, Wise or Cashfree Payments?+

There is no cost verdict for a USD 5,000 bank transfer: neither publishes full pricing for this case.48972 The answer can change with the currency, payment method and invoice size, so check your own numbers in the platform cost comparison.

Do Wise and Cashfree Payments give a FIRA to Indian exporters?+

Wise: An e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.14 Cashfree Payments: Cashfree's Global Collections page says an e-FIRA is generated at no extra cost within 1 day. Its documentation says its AD-1 partner bank issues an eFIRS on a T+1 basis, obtained by request through the support form or account manager. For the card gateway, Cashfree mentions monthly FIRC reports and instant FIRS.791110

Can individual freelancers use Wise and Cashfree Payments?+

Wise: Wise Business only: sole traders or freelancers (personal PAN and an INR bank account in their own name), sole proprietorships, private limited companies, LLPs and general partnerships. Other business types are not currently onboarded. Wise personal accounts in India cannot receive money.1213 Cashfree Payments: Businesses only, per Cashfree. Its pricing page says it currently enables cross-border payments only for businesses, and its Global Collections documentation says you must be a registered business in India. Cashfree does not publish which legal forms (sole proprietor, partnership, LLP, company) qualify.62

Are Wise and Cashfree Payments authorised by the RBI?+

Wise: RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.141 Cashfree Payments: Cashfree Payments India Private Limited appears on the RBI list of authorised payment system operators as a Payment Aggregator (online and physical) and as PA-CB I & O, which the RBI defines as a Payment Aggregator, Cross Border facilitating inward and outward transactions. Cashfree's own pages also say Global Collections operates under the RBI's OPGSP (Online Payment Gateway Service Provider) guideline.15911

How fast do Wise and Cashfree Payments pay out to an Indian bank?+

Wise: Wise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.1 Cashfree Payments: Global Collections: Not published for the exporter. Cashfree says funds are swept to a NOSTRO account and repatriated to India no later than seven days after credit. International card gateway: T+2 per Cashfree's documentation.710

Do I still need an LUT if I am paid through Wise or Cashfree Payments?+

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 Wise, Cashfree Payments or a bank wire.39

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

How Wise Business works for Indian freelancers and companies: RBI status, who can sign up, how clients pay, costs, e-FIRC, purpose code, limits and EDF points.

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

How Cashfree Payments Global Collections and its international card gateway work for Indian service exporters: RBI status, who can sign up, FIRA, limits and costs.

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