Razorpay Alternatives for International Payments in India
Razorpay, known for its payment gateway and payroll services in India, now offers international payment solutions too, including virtual accounts and traditional gateways for exporters.
In this blog, we unpack Razorpay’s international offering and explore alternatives, so you can find what fits your business best.
What is Razorpay?
Razorpay app is an Indian payment gateway founded in 2014 that provides financial services for businesses. Its offerings include payment processing, banking solutions, lending options, and business operation tools.
For international payments, Razorpay has two main options.
The standard payment gateway service that accepts payments from multiple countries through credit/debit cards, bank transfers, SWIFT, and PayPal, with funds converted to INR.
Their MoneySaver Export Account provides virtual international bank accounts, allowing clients to make payments via local bank transfers in various currencies.
Key Features of Razorpay International Payments
Standard payment gateway
Razorpay's payment gateway accepts international payments through credit card and debit card, bank transfers, SWIFT, and PayPal integration. It supports transactions from over 100 countries and automatically converts foreign currencies to INR. The system handles payment processing and basic reconciliation for international transactions.
Pricing: 3% transaction fee for card payments. PayPal transactions incur PayPal's standard fees (approximately 4.4% transaction fee plus a $0.30 flat fee, along with a 4% forex markup).
MoneySaver export account
This solution provides virtual international bank accounts for businesses regularly receiving foreign payments. Clients can pay via local bank transfers in multiple currencies. The system generates automated digital FIRA and uses live forex rates for currency conversion.
Pricing: 1% of the transaction amount with no additional forex markup.
Razorpay Alternatives to Take Note of
Skydo: A Homegrown Razorpay Alternative
Skydo is an international payment platform designed for Indian freelancers and businesses. It provides virtual international bank accounts that let clients pay you as if you were a local business in their country. The platform offers accounts in the US, UK, Canada, Australia, and other major markets.
Skydo converts payments using live forex rates without markup, meaning you get the exact exchange rate you see on Google. The platform also includes invoice generation, payment tracking, and analytics tools to help manage international income.
Pros of Skydo
- Skydo uses a transparent fee structure of $19 for payments up to $2,000 , $29 for payments between $2,001 and $10,000 and 0.3% for payments above $10,000
- Skydo converts your payments at the actual live mid-market rate — the same one you see on Google, with no hidden markup, so you get the full value of what you're paid
- The system provides instant, free FIRA after every transaction, eliminating compliance concerns. All FIRAs are neatly stored in your dashboard, ready to download anytime, individually or in bulk
- Each user receives support from a dedicated representative who helps with account setup and ongoing questions.
- Skydo also comes with a built-in invoicing tool and real-time payment tracking, so you always know exactly where your money is.
Cons of Skydo
- Skydo currently supports only inward remittances, meaning you cannot use it to send money abroad
- The platform might not be cost-effective for small transfers under $1,000, where percentage-based fees could be lower
Wise Business: A Solid Razorpay Alternative for Freelancers and Small Businesses
Wise (formerly TransferWise) offers multi-currency accounts for businesses of all sizes receiving international payments. The platform started as a peer-to-peer remittance service but has expanded to provide accounts that can hold and convert multiple currencies.
Pros of Wise Business
- Wise uses the mid-market exchange rate with no hidden markup, making its currency conversion transparent
- The platform provides multi-currency accounts that hold funds in different currencies before conversion
- Wise offers a debit card that works in over 175 countries, which is helpful for business expenses while traveling.
Cons of Wise:
- Wise charges a conversion fee of approximately 1.6-1.8%, depending on the currency pair
- It charges an additional fee for FIRC documentation, around $2.50 for USD payments
- Users can only receive up to $ 10,000 per invoice.
PayPal: A Globally Accepted Razorpay Alternative
PayPal is one of the most widely recognized payment platforms globally, handling cross-border personal and business transactions.
Pros of PayPal
- PayPal has high global recognition, making it a payment method most clients already know and trust
- It offers buyer and seller protection programs that can reduce transaction risk
- The platform provides a monthly digital FIRA for Indian businesses, covering all international transactions from the previous month
Cons of PayPal:
- PayPal's fees for international transactions, include a 4.4% transaction fee, a $0.30 flat fee, and a 4% markup on the exchange rate
- The monthly FIRA only becomes available by the 15th of the following month, which can delay compliance documentation
- Some PayPal features like domestic transactions, PayPal credit aren't available in India
PingPong: A Viable Razorpay Alternative for ecommerce
PingPong focuses on simplifying international payments for freelancers and e-commerce sellers, with particular attention to marketplace integration.
Pros of PingPong
- PingPong provides virtual international accounts in multiple regions, making it easier for clients to pay through local methods
- The platform has strong integration with e-commerce marketplaces like Walmart and Shopify
- It offers features for VAT/GST and other tax payments without additional costs
- PingPong provides digital FIRA documentation for international payments at no extra charge.
Cons of PingPong
- PingPong charges a 1% transaction fee, which, while competitive, can become substantial for more significant transactions
- There is limited transparency around exchange rates, with potential markup on currency conversion.
Payoneer: A Solid Razorpay Alternative for Marketplace Integrations
Founded in 2005, Payoneer is an established platform for international payments, particularly popular with freelancers and marketplace sellers.
Pros of Payoneer
- Payoneer offers free transfers between Payoneer accounts, which can be helpful when working with clients who also use the platform
- It provides integration with popular marketplaces like Amazon Pay and Fiverr
- The platform offers free digital FIRA documentation for Indian users, helping with compliance requirements
Cons of Payoneer
Payoneer fees include:
- Credit card payments: 3.2% + $0.49
- Withdrawals to Indian bank accounts: Up to 3%
- Annual fee: $29.95 if you receive under $2,000/year
More India-based Razorpay Alternatives
Karbon Business
Karbon Business (formerly Karbon Card) is an Indian fintech platform that started with corporate cards but has expanded to international digital payments. The platform handles both inward and outward remittances for Indian businesses.
Pros of Karbon
- Karbon Business supports receiving and sending international payouts, making it versatile for businesses with global operations
- The platform offers competitive pricing with live forex rates
- It provides FIRA documentation for compliance with Indian regulations.
Cons of Karbon
- Karbon Business currently only supports USD for inward payments, limiting options for clients in non-US countries
- The platform charges a flat 1% fee, which can add up quickly for more significant transactions.
Eximpe
Eximpe provides payment solutions specifically designed for cross-border transactions. The platform caters to freelancers and small businesses who regularly work with international clients.
Pros of Eximpe
- Eximpe offers global collection accounts in over 30 currencies, allowing clients to pay using their local payment methods
- The platform provides instant digital FIRA documentation, eliminating typical waiting periods
- It offers forex conversion without additional markup, potentially saving money on currency exchange
Cons of Eximpe
- Eximpe's transaction fee model includes 0.75% plus additional bank collection fees that vary by payment method
- While simple, the platform's monthly pricing option may not be cost-effective for businesses with irregular payment patterns
Receive seamless International Payments with Skdyo
Skydo makes getting paid from international clients feel a lot less complicated. You get virtual accounts in major markets like the US, UK, Singapore, and Australia, and once the payment comes in, it’s usually in your Indian bank account within 24 hours.
What really makes a difference though? You always know where your money is. With real-time tracking and helpful reminders, you’re never in the dark. Plus, Skydo gives you the live forex rate (no hidden markups) and your FIRA instantly — so you stay compliant without the usual back and forth.
Add to that a 5-minute setup and a support team that’s actually based in India — and it’s easy to see why more businesses are switching. If you’re looking for a smoother, more transparent way to handle international payments, Skydo could be a great fit.
What are the alternatives to Razorpay?
For international payments, top Razorpay alternatives include Skydo, Wise, PayPal, PingPong, Payoneer, Karbon Business, and Eximpe, each with different fee structures and features.
Can I use Razorpay for free?
Does Razorpay charge a fee?
