Razorpay Alternatives for International Payments in India

Razorpay has long been a trusted name for payment gateways and payroll in India. And now, it's stepped into the international payments space, offering exporters the option to receive global payments through both virtual accounts and traditional gateways.
But is it the best fit for your global business?
In this blog, we briefly break down Razorpay’s international offering and explore top Razorpay alternatives that may offer better pricing, faster settlements, or more personalized support, so you can choose the platform that actually works for your cross-border needs.
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.
When using Razorpay for international transactions, businesses should consider transaction fees (3%+ forex fee for card payments, 1% for Export Account), currency conversion rates, and documentation requirements for compliance purposes.
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 plus forex markup 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.
Pros of Razorpay
- Razorpay offers a unified platform for domestic and international payments with straightforward integration options
- The dashboard helps track transactions and generate reports. Multiple payment options accommodate various client preferences
- The export account provides virtual international accounts for more direct payments.
Cons of Razorpay
- The platform charges relatively high transaction fees (3%) for standard international card payments through its payment gateway
- Customer support can experience delays in response times
- New users sometimes face restrictions on certain features
- The standard payment gateway option does not provide automatic digital FIRA documentation, though this is available through the MoneySaver Export Account
- The system may not be cost-effective for businesses with high transaction volumes.
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 transparentt 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
- The system provides instant, free FIRA after every transaction, eliminating compliance concerns
- Each user receives support from a dedicated representative who helps with account setup and ongoing questions.
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
- Some users report that customer service can be slow to resolve complex issues.
- Users can only receive up to $ 10,000 per invoice.

PayPal: A Globally Accepted PayPal 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 charges high fees for international transactions, including 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 users report difficulties with customer support response times
PingPong: A Viable PingPong 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. Some users' reviews say that the onboarding process can be cumbersome

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's fee structure includes various charges: up to 1% for USD virtual account payments, up to 3% for withdrawals to local bank accounts, and a 3% forex markup
- The platform charges an annual fee of $29.95 if you receive less than $2,000 yearly
- Some users report difficulties with customer support responsiveness
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. Some users report delays in online payment processing times
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
- Some customers report slow service and response times
- While simple, the platform's monthly pricing option may not be cost-effective for businesses with irregular payment patterns
Receiving International Payments with Razorpay Vs Skydo: A Quick Comparison
When choosing between Razorpay alternatives, Skydo definitely stands out as the more affordable and seamless option for receiving international payments. Let's quickly compare how much it would cost you to receive a payment with Skydo vs Razorpay. Understanding the cost implications can help you make a better decision. Here's how they compare when receiving a $10,000 payment:
Razorpay
Using Razorpay's MoneySaver Export Account, you'll pay:
- Transaction Fee: 1% of the transfer amount
- Total Fee: $100 (₹8,580 at an exchange rate of ₹85.8)
- You receive: $9,900 (₹849,420)
With the standard payment gateway option (cards/PayPal), fees would be higher at 3% plus potential forex markup.
Skydo
With Skydo's flat fee structure, you'll pay:
- Transaction Fee: $29 flat fee for payments between $2,001-$10,000
- Total Fee: $29 (₹2,488 at an exchange rate of ₹85.8)
- You receive: $9,971 (₹856,112)
What does this mean for you?
By choosing Skydo over Razorpay's Export Account for this $10,000 transaction, you save $71 (₹6,092). The difference becomes even more significant for larger and recurring payments or when compared to Razorpay's standard payment gateway services option.
Beyond fees, Skydo provides instant FIRA for every transaction at no additional cost, whereas Razorpay's standard gateway doesn't include automatic FIRA. Both platforms offer virtual international accounts, but Skydo's dedicated customer support and simplified payment tracking may provide additional value depending on your specific needs.

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?













