With cross-border business on the rise, especially among Indian exporters, freelancers, and SaaS companies, finding the right platform to receive international payments isn’t just helpful, it’s critical. Wise (formerly TransferWise) has earned a reputation for offering low-cost, transparent international transfers. But it's not the only option available.

Whether you're looking for better pricing, faster settlement, or RBI-compliant documentation, there are several strong alternatives to Wise today. Platforms like Skydo, designed specifically for Indian businesses, now offer mid-market exchange rates, no hidden fees, and instant FIRA, making them leading alternatives to Wise for international payments.

In this guide, we’ll break down Wise Business's core features and compare the top 5 Wise alternatives for receiving global payments, so you can choose the one that fits your business best.

Why is Wise Business popular for international business payments?


<a href="https://www.skydo.com/blog/transferwise-india-features-benefits-pros-cons">Wise (formerly TransferWise) </a>is a go-to for many businesses because of its simplicity, speed, and cost transparency. It offers:

Why might Indian businesses look for an alternative to Wise Business?

Despite Wise’s advantages, there are scenarios where businesses seek alternatives to Wise for cross-border payments:

What should Indian businesses consider when choosing a Wise alternative?

Choosing the right international payment platform comes down to your specific business needs. Key factors to compare include:

&nbsp;Below, we outline some of the best alternatives to Wise, highlighting how each can help Indian exporters, SaaS firms, freelancers, and other SMBs receive money from abroad.

PayPal: A Wise alternative with global client familiarity

Skydo: An alternative to Wise built for&nbsp; Indian exporters

Payoneer: A Suitable Wise alternative for e-commerce businesses

Stripe: A solid Wise alternative for SaaS businesses and online payment integration

PingPong: Another ecommerce friendly alternative to Wise

Here's a table quickly comparing Wise with its alternatives:

Indian Fintech Platforms:&nbsp; Homegrown, low-cost options for cross-border payments

A new wave of Indian fintech platforms like <a href="https://www.skydo.com/blog/infinity-payment-features-and-fees-breakdown">Infinity,</a> <a href="https://www.skydo.com/blog/karbon-business-features-pricing-and-alternatives">Karbon Business, a</a>nd others is reshaping how small businesses, exporters, and freelancers handle international payments. These platforms offer multi-currency virtual accounts that let you receive payments from clients globally, often within 2 business days and without the delays or high fees of traditional banks.

Most offer instant, digital FIRA/FIRC at no extra cost, making them highly suited for Indian compliance needs, especially for exporters and service providers dealing with GST and RBI regulations.

While they may lack the global brand recall of Wise or PayPal, these Indian alternatives are designed for local realities: simple onboarding, transparent pricing, GST-ready invoices, and India-based support.&nbsp;

Which Wise alternative is best for Indian MSMEs and freelancers?

Whether you're a small exporter in Surat, a SaaS founder in Bengaluru, or a freelance consultant in Jaipur, getting paid from overseas clients smoothly, affordably, and compliantly is critical.

For MSMEs, the ideal Wise alternative depends on the nature of the business. If most of your clients pay via bank transfers (common in B2B setups), platforms like Payoneer, Infinity, or PingPong offer virtual accounts and lower transaction fees than traditional banks. These platforms also support documentation like FIRA/FIRC, which is vital for GST compliance and export incentives.

For freelancers, especially those working with clients in the US or UK, ease of use and low fees matter just as much as speed. Some clients prefer PayPal for its familiarity, while others are open to more efficient methods, like platforms that offer local account details, no SWIFT charges, and clear pricing.

This is where Skydo stands out. It’s built specifically for Indian service exporters, freelancers and MSMEs alike offering:

Unlike generic platforms, Skydo combines compliance, pricing transparency, and local support in one place, making it a practical choice for Indian businesses that want simplicity without giving up on documentation or control.

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Wise alternative

With the power of the internet, you can work with clients thousands of miles away. However, signing a foreign client is only the first step in growing an international business.&nbsp;​Selecting the appropriate international payment methods is crucial for effectively managing and scaling your business. Each method offers unique features, fees, and integration capabilities, so it's essential to choose one that aligns with your business needs.

This blog will be your go-to guide to choosing the right solution as your long-term payment partner. We have identified four of the best international payment methods and analyzed them by highlighting their pros and cons.

Top 4 International Payments Methods in India

India’s service exports grew by <a href="https://www.business-standard.com/markets/capital-market-news/india-s-services-export-up-16-5-in-january-2025-125021701063_1.html">16.5%</a> in 2025, indicating that more small and large businesses and freelancers might expand their business overseas. To help them pick the right payment platform, here are the pros and cons of the four most popular international payment methods.

<a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">SWIFT&nbsp;money transfers</a> are essentially international money transfers that happen via banks. Note that SWIFT is not a bank that holds money. Rather it is a messaging network that banks use to send money across borders. facilitates the movement of funds across borders. SWIFT payment is definitely the most popular international payment method, especially among established and big businesses. But is it the right choice for you? Let's take a quick look at its pros and cons:&nbsp;

SWIFT transfers via banks are considered one of the safest and most secure international payment methods, thanks to its robust networking infrastructure and strong protection measures. However, while accepting a payment via SWIFT make sure to share the correct details to avoid any delays or cancellations.&nbsp;&nbsp;

Nearly every country and currency is covered under SWIFT making it the most popular and universally accepted international payment method. The advantage is you can work with clients from almost any country without worrying about compatibility

Online Banking Services Making It More Convenient

Most banks offer SWIFT as part of their online banking services. That means you can manage your international transactions from the comfort of your home or office.&nbsp;

The settlement time of a SWIFT transfer can be up to 5 business days or more depending on intermediary banks, holidays etc. For small businesses, such a long settlement time can cause cashflow issues.

The total fees on SWIFT transfer take a deep cut on the amount you receive. For starters, an average transfer from the US can cost $15-$50, which is mostly passed on to the receiver by the payer.&nbsp;

The receiving bank might also charge an inward remittance fee based on their policy. However, beyond SWIFT fee, banks make the most money via forex markup. Most banks do not provide live forex rates while converting money, instead, they offer you lower exchange rates. For example, if the live forex rate is 1USD = INR 86, banks may offer you 84. So for a payment of USD 5000, you will get INR 4,20,000 (84*5000) instead of INR 4,30,000&nbsp;(86*5000)

Forex markup coupled with SWIFT fee and other ancillary fees can make SWIFT transfers via banks a rather expensive international payment method

<a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">FIRA or Foreign Inward Remittance Advice</a><a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide" target="_blank">&nbsp;</a>serves as proof of export income from abroad. Every Indian business or freelancer having foreign income needs to acquire FIRA. Now while banks issue FIRA for every international payment, it is not a default action. You need to request your bank for the same and most banks levy a fee to furnish FIRC. HDFC bank, for example, <a href="https://www.hdfcbank.com/personal/pay/money-transfer/remittance/fees-and-charges">charges Rs. 200&nbsp;for issuing a single FIRA.</a>

While bank-mediated SWIFT transfers are a widely used international payment method, their extended settlement times—often ranging from one to five business days—and substantial fees may not suit every business's needs.

Virtual bank accounts are a modern international payment method that is gaining rapid popularity among Indian businesses. Platforms like Skydo offer users virtual bank accounts in countries like the US, UK, and Australia. Clients in these countries can send payments to these virtual accounts as local transfers, avoiding the hassle and cost of international transfers.

The platforms then consolidate these local payments and transfer them to the recipient’s personal bank account.&nbsp; Can virtual bank accounts become your preferred international payment method? Let's find out:

Virtual accounts are much faster compared to SWIFT in settling transactions. Platforms like Skydo settle a transaction within 24 -48 hours, providing your business with instant liquidity&nbsp;

When your client pays you in your virtual bank account, it becomes a local transfer and not an international transfer thereby bypassing the SWIFT fee. However, different platforms offering virtual accounts charge their respective fees. Skydo simply charges USD 19 for payments under USD 2000, USD 29 for payments between USD 2000-10,000 and 0.3% for payments above USD 10,000. That's it. Most importantly, unlike banks and many other international payment methods, Skydo converts your payment at a live forex rate without any markup. If the prevailing exchange rate is 1USD= INR 86, that is the exchange rate you will get, ensuring you keep the maximum of what you get.&nbsp;

Most platforms offering virtual bank accounts also offer FIRA saving you the hassle of following up with banks. Skydo for example offers free and instant FIRA for every transaction, easing your compliance burden.&nbsp;

Virtual accounts have advanced security features like encryption, multi-factor authentication, and real-time fraud monitoring. Also, if your virtual account number gets compromised, no one can gain access to your bank account

Virtual accounts are like delivery agents – they receive money and transfer it to your bank account. They cannot hold it, which might not be preferable for a few businesses

​Virtual bank accounts are recognized as safe and secure methods for international payments, offering benefits such as reduced fees and faster transactions. However, due to their relatively recent emergence, some international clients may be hesitant to adopt them.&nbsp;

Payment gateways are digital intermediaries facilitating payments between you and your client. A payment gateway aggregates different payment methods so you can provide multiple options to your client making it a popular international method, especially for e-commerce businesses. For example, if you’re using a<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives"> payment gateway like PayPal</a>, you can offer your clients to pay via credit card, debit card or from their PayPal account. The flexibility is convenient for you and your client and simplifies the entire payment process.&nbsp;&nbsp;

Payment gateways are highly secure for handling sensitive information. They adhere to the guidelines of the Payment Card Industry Data Security Standard (PCI DSS) to protect data like credit card numbers and avoid data breaches.

Payment gateways can be easily integrated into websites or online stores, allowing any international buyer to make hassle-free payments in their currency, including purchasing a luxury watch from<a href="https://laatukoru.fi/en/collections/tissot"> Tissot.</a>

Payment gateways allow different options to make payments like credit cards, bank transfers or e-wallets based on the user’s preference

Payment gateways charge fees in different categories and can be quite high for small businesses and freelancers. For example, <a href="https://www.skydo.com/blog/paypal-transaction-fees-india">PayPal charges</a> a 4.4% transaction fee, coupled with a fixed fee and 4 currency conversion fee.&nbsp;

The level of customer support varies according to the region. For example, PayPal doesn't have an India-based support team, making it difficult for Indian businesses to get in touch with them.

​Redirecting customers to an external payment gateway during checkout can disrupt the buying experience, leading to potential confusion and security concerns.

Online remittance platforms like Western Union, Wise p2p allow anyone to make cross-border payments effortlessly. They are fast, secure, and like payment gateways, they accept multiple payment methods like bank transfers and credit cards. They offer real-time payment tracking and lower fees, making it an affordable international payment method.&nbsp;

Online remittance platforms usually take less time to settle transactions. They are available to use 24/7 and can be done via a mobile app too

These platforms often offer competitive rates compared to banks. Therefore, you get a high value when the amount is converted to domestic currency

With real-time tracking, encryption, and fraud detection techniques, online remittance platforms are considered safe for cross-border payments

In case of a technical failure or server downtime, there might be a delay in payment, causing an inconvenience

While remittance platforms are quite popular, they might not be available in certain regions

Most remittance platforms are transparent about their fees, however, there still could be hidden charges on currency exchange rates. It’s advisable to do due diligence before choosing the right platform.&nbsp;

The convenience and easy-to-use interface of remittance platforms make it a more popular choice for personal transfers. However, it might not be the most apt international payment method for businesses as these platforms mostly don't provide FIRA, making compliance harder for businesses.

Skydo: Your Top International Payment Method in 2025

Virtual accounts are reliable, quick, and hassle-free. Moreover, the fees are affordable, which makes it a perfect fit for emerging businesses and freelancers to grow their international business. If virtual accounts hold the top position in your priority list, you must try Skydo.&nbsp;

With Skydo, you can create virtual accounts in regions like the US, the UK, Singapore, and Australia. After you receive the payment from these regions, Skydo consolidates the payments and transfers them to your bank account within 24 hours, providing quick liquidity.&nbsp;

But it’s often challenging to keep track of clients’ payments; Skydo’s real-time payment tracking feature could help. Send personalized reminders, get updates when the client sees the reminder, and get notifications when the payment status changes from transit to receipt. All of this from a single dashboard.&nbsp;

Skydo also offers live Forex rates, providing you the best value for money and instant FIRA for free to keep your business compliant with RBI regulations. These two points are the biggest highlights that separate Skydo from other platforms including banks.

While cost-effectiveness is Skydo’s plus point, its 5-minute onboarding process and India-based customer support team are the other reasons to make Skydo your international payment partner.&nbsp;

Is Skydo the right solution for your business? Find out with a<a href="https://www.skydo.com/"> free demo</a>

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Receiving global payments as an Indian freelancer or business?&nbsp;

Your choice between Payoneer and Wise directly impacts your earnings and overall business experience. On a $10,000 payment, the difference can exceed ₹15,000 in your pocket, but the platforms also differ in crucial areas like user experience, customer support, and compliance features.

Both offer virtual accounts and multi-currency support, but their fixed fee structures, processing times, and service quality mean that not only does the amount landing in your bank account vary significantly, but also how smoothly your international payment operations run. The right choice depends on your business needs for cost efficiency, regulatory compliance, and day-to-day payment management.

This comparison reveals which platform lets you keep more of what you earn and when each makes financial sense for your business situation.

Payoneer vs. Wise: Understanding the Differences&nbsp;

<a href="https://www.skydo.com/blog/payoneer-payment-gateway-features-fees">Payoneer</a> is a global payment platform that helps Indian freelancers and businesses receive international payments through multiple methods. It provides virtual receiving accounts in major currencies (USD, EUR, GBP, etc.), allowing your clients to pay you locally via bank transfers. The platform integrates with significant marketplaces and <a href="https://dynamicmockups.com/print-on-demand/best-ecommerce-platform-for-print-on-demand/">eCommerce platforms </a>like Fiverr, Upwork, Amazon, and Airbnb and offers additional features like customizable payment requests and invoice creation.

You can get a detailed analysis of <a href="https://www.skydo.com/blog/payoneer-fees-india-guide">Payoneer Fees right here.&nbsp;</a>

<a href="https://www.skydo.com/blog/transferwise-india-features-benefits-pros-cons">Wise (formerly TransferWise)</a> is a global payment platform that enables Indian freelancers and businesses to receive international payments in over 70 currencies. It provides virtual international accounts in major currencies and regions, including the US, EU, UK, and Australia. Wise differentiates itself by offering mid-market exchange rates without markup, instead charging a transparent conversion fee that varies by currency.

Payoneer vs. Wise: A Quick Comparison&nbsp;

Before you commit to either platform, understand precisely how they impact your overall business operations and bottom line. Here's a quick comparison of both platforms to help you make an informed choice:

Skydo: An Affordable Alternative to Both Payoneer and Wise

Indian freelancers and businesses searching for better international payment solutions need to consider Skydo - a platform specifically designed for the Indian market that offers significant cost advantages over Payoneer and Wise.

Skydo is an India-focused international payment platform that provides virtual global bank accounts across 10+ countries, including the US, UK, Canada, and Australia. Built specifically for Indian businesses and freelancers, it enables payment receipt from international clients and marketplaces with transparent pricing and zero forex margin. Skydo emphasizes cost savings while offering complete payment solutions, which include invoicing, tracking, and compliance documentation.

​Skydo integrates seamlessly with marketplaces like Amazon, offering tailored services that empower Indian MSMEs and D2C startups to focus on growth and reach global markets.

With no cap on payment volume per invoice, affordable flat fees, live forex rates without any markup, and an India-based support team, Skydo combines the best features of platforms like Wise and Payoneer, providing a comprehensive solution for Indian businesses managing international payments. ​

By choosing Skydo, you're opting for a platform that simplifies cross-border transactions, enhances efficiency, and ensures you retain more of your earnings. Make the switch to Skydo today and maximize your profits.

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Choosing between Wise vs PayPal for international payments 2025 can significantly impact your bottom line. As an Indian freelancer or business owner receiving money from abroad, every percentage point in fees matters.&nbsp;

While PayPal and Wise offer reliable ways to get paid, they differ dramatically in their approach to fees, exchange rates, and features.&nbsp;

Let's dive into a practical comparison to help you pick the platform that puts more money in your pocket.

Wise vs PayPal: Understanding the Differences

<a href="https://www.skydo.com/blog/transferwise-india-features-benefits-pros-cons">Wise (formerly TransferWise)</a> is a digital financial platform specializing in international money transfers. Wise stands out for using accurate mid-market exchange rates and transparent fee structures. For Indian businesses and freelancers, Wise Account offers multi-currency accounts that let you receive payments from over 50 countries as if you had a local bank account.

It started as a peer-to-peer remittance service allowing individuals to send and receive money without intermediaries like banks. Later, it grew as a business-to-business money transfer service for organizations to receive and make international business payments.&nbsp;&nbsp;In India, Wise Business lets you receive international payments in multiple currencies, but you can’t use it to send business payments abroad. Also,&nbsp; Wise&nbsp; Debit card is not available to businesses in India.&nbsp;

Moving forward, we'll focus on comparing Wise Business and PayPal for receiving international payments, excluding Wise's peer-to-peer service

For r<a href="https://www.skydo.com/blog/wise-transfer-charges-in-india">eceiving payments in India:</a>

🔖<a href="https://www.skydo.com/blog/top_5_wise_alternatives_for_international_payment">Learn about the Wise alternatives</a>

<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives">PayPal</a> is a payment platform serving over 400 million users worldwide. It functions primarily as an international payment gateway, letting you receive money from clients across 200+ countries. While PayPal offers extensive features globally, its services in India are explicitly focused on cross-border transactions.

<a href="https://www.skydo.com/blog/paypal-transaction-fees-india">For receiving international payments:</a>

🔖<a href="https://www.skydo.com/blog/top-paypal-india-alternatives-for-international-payment">Learn about the PayPal alternatives</a>

Let's examine how Wise vs. PayPal compares when receiving international payments in India. With significant differences in their fee structures and features, choosing between these platforms can directly impact your earnings.&nbsp;

Here's a comprehensive breakdown of PayPal vs Wise to help you make an informed decision:&nbsp;

Skydo: An Affordable Alternative to Wise and PayPal&nbsp;

When comparing Wise vs PayPal, it's worth considering emerging alternatives that offer even better value. Skydo is an India-made solution designed explicitly for receiving international online payments with significantly lower fees than TransferWise and PayPal.

Skydo is a modern payment platform tailored for Indian businesses and freelancers receiving international payments. It provides virtual global bank accounts in 10+ different countries, including the United States, UK, Canada, and Australia. These accounts give you local banking details that clients can use to send payments as domestic transfers - eliminating SWIFT fees and international wire charges that typically cost $20-40 per transaction.

Curious if Skydo is the right fit for your business?<a href="https://www.skydo.com/">&nbsp;Sign up for a free demo&nbsp;</a>to find out.

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When dealing with international clients, you need the right payment partner to ensure timely payment. Skydo and Wise are trustworthy and reputed platforms helping business owners streamline this process. Wise (formerly TransferWise) is known for its global presence and multi-currency accounts while Skydo is popular for its flat fee structure and high-quality support.

But you don't need two platforms; you just need one that fulfils most of the requirements. This blog will help you pick the right one by comparing their pros and cons and fee structures with an example.

Skydo vs Wise: Understanding the Differences

Wise and Skydo enjoy a strong reputation as payment solutions. However, their differences will help you decide which one meets most of your needs

Wise (<a href="https://www.skydo.com/blog/transferwise-india-features-benefits-pros-cons">formerly TransferWis</a>e) was founded in 2011 and soon gained popularity due to its pricing and user-friendly interface. It started as a peer-to-peer remittance service allowing individuals to send and receive money without intermediaries like banks.

Later, it grew as a business-to-business money transfer service for organisations to receive and make international business payments via <a href="https://www.skydo.com/blog/virtual-account-numbers">international virtual accounts</a>. Based on the location, Wise also offers business debit cards to its users, although&nbsp;Wise&nbsp;Debit card is not available to businesses in India.&nbsp;

Moving forward, we'll focus on comparing Wise Business and Skydo for receiving international payments, excluding Wise's peer-to-peer services.&nbsp;&nbsp;

Wise charges a conversion fee in the range of 1.7-1.9% of the transaction amount and it varies depending on the currency.&nbsp; For example, when receiving a payment of USD 1,000, USD 17 will be deducted as Wise fee/conversion fee.&nbsp;

Wise uses mid-market exchange rates to convert payments without levying any markup.&nbsp;

Wise also charges an additional fee for issuing digital FIRA for every transaction. This fee again varies across currency, for USD payments it is USD 2.50 per FIRA

Skydo is an India-based international payment platform offering businesses virtual accounts in key geographies like the US, UK, Europe, Australia and more to receive cross-border payments seamlessly.&nbsp;In addition to facilitating international payments, Skydo offers businesses tools to create professional invoices and monitor payments in real-time, simplifying the process for exporters.

Skydo has a transparent fee structure and converts payments at live forex rates without levying any markup, unlike banks and many other payment platforms.&nbsp; Skydo also offers instant FIRA for every payment you receive automatically at no additional cost.&nbsp;As a homegrown brand, Skydo offers India-based customer support to assist new users throughout the onboarding process and address any queries existing users may have.

Skydo offers a transparent, fee structure for receiving international payments:

Additionally, Skydo converts your funds at live forex rates with no markup, ensuring you receive the most competitive exchange rates.

Receiving USD 10,000 in India with Skydo vs Wise

How much can you expect to receive via Skydo vs Wise if a US-based client transfers USD 10,000? Let's find out:

By choosing Skydo, you can save $165 in fees, resulting in over ₹11,520 more credited to your bank account.

But Skydo offers more than just competitive fees:

Curious if Skydo is the right fit for your business? <a href="https://www.skydo.com/">Sign up for a free demo</a> to find out.

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Since its launch in 2000, PayPal has become a go-to platform for businesses handling international payments. Its strong reputation and global reach make it a popular choice for Indian businesses as well.

If you're exploring <a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives">PayPal for your business </a>and not sure if it’s the right fit for you, then you’ve come to the right place.&nbsp; We have done a quick but detailed analysis of PayPal’s transaction fees and more so you know how much you pay for each transaction. We will also suggest a more cost-effective alternative to PayPal at the end of the blog.

PayPal stands out for its seamless integrations with platforms like Shopify and Magento, along with its robust <a href="https://www.paypal.com/in/webapps/mpp/paypal-buyer-protection?no_follow=true">buyer </a>and <a href="https://www.paypal.com/in/brc/article/what-is-seller-protection#:~:text=Here's%20how%20sellers%20can%20get,delivery%20generally%20within%2010%20days.?no_follow=true">seller protection programs</a>. Buyers are covered if items don’t arrive or match the description, while sellers are protected from unauthorized transactions and lost shipments. Additionally, its built-in invoicing feature and user-friendly interface make it a top choice for both businesses and freelancers

However, it is important to note that a lot of PayPal’s features aren’t available in India. For example, PayPal cannot be used for domestic transactions, and PayPal credit isn’t available to Indian businesses as well. And not to mention, PayPal’s usability comes PayPal’s transaction fees, coupled with its currency conversion charges and fixed fees. In the next section, we will break down Paypal’s transaction fees and all other associated charges.&nbsp;

PayPal Transaction Fees India: A Quick Breakdown

There are three categories of fees: transaction fee, fixed fee, and currency conversion fee

Every time you receive a payment in India from an international client, PayPal charges a 4.4% transaction fee. For example, if a US-based client sends $10,000 for your services, PayPal will deduct<a href="https://www.paypal.com/in/webapps/mpp/merchant-fees"> 4.4%</a> of the amount, which is $440 (4.4% X 10,000) as transaction fees. You can decide to pay this transaction fee by yourself, split it with your client, or ask them to bear it on the basis of your relationship with the client.&nbsp;

In addition to the transaction fees, PayPal charges a<a href="https://www.paypal.com/in/webapps/mpp/merchant-fees"> fixed fee</a> based on the currency. Here are a few examples of fixed fees on different currencies:

Click on<a href="https://www.paypal.com/in/business/paypal-business-fees"> this link</a> to view the fixed fee for the entire range of currencies.

PayPal also adds a 4% markup on the prevailing exchange rate while converting foreign currencies to Indian rupees. For example, If the current exchange rate is USD 1= INR 85, then PayPal will levy a 4% markup on this, making the effective exchange rate INR 81.6.

PayPal Transaction Fees from USA to India: How Much Will You Pay?

So far we covered the different fees PayPal applies to international money transfers. But how does all of that translate in a real-life scenario? Here's an example to help you with that.

Imagine you're a business owner receiving a payment of $5,000 from a client in the USA via PayPal. First, PayPal will deduct a transaction fee of 4.4%.

PayPal will also charge a fixed fee of $0.30 based on the above table of fixed fees for different currencies.

So the total fee applied on the amount is $220 + $0.30 = $220.3. We are left with a balance of $4779.7 which will be converted to Indian rupee.

While converting the currency, PayPal will charge 4% markup on the prevailing exchange rate as currency conversion fee. Considering the current rate to be 1 USD to INR 85, the fee is Rs. 3.4 and the effective exchange rate is Rs. 81.6.

In summary, the balance of $4779.7 will be converted to INR at the exchange rate of Rs. 81.6. The amount that can expect to receive is Rs. 390,023.52

So how much did you end up paying in fees?

The actual value of the transaction amount in INR is Rs. 425,000, however, you received Rs. 390,023.52 resulting in a difference of Rs. 34,976.48 (or $411). This difference is the total fee for receiving the payment through PayPal.

Skydo: An Affordable and Seamless PayPal Alternative to Receive International Payments

PayPal has built a solid global reputation as the right payment partner for emerging businesses. Its user-friendly interface, smart features, and integrations are the biggest reasons behind<a href="https://www.statista.com/statistics/218493/paypals-total-active-registered-accounts-from-2010/#:~:text=PayPal%20in%20general,generate%20revenue%20through%20transaction%20fees."> 435 million</a> active PayPal accounts. However, its charges can make it unaffordablefor many Indian businesses and individuals. Moreover, PayPal India doesn't offer many services to Indian customers, for example, the wallet feature is not available for Indian users and it also doesn't have an India based support team.&nbsp;

If PayPal fees and limited support are concerning factors, exploring Skydo is worth it. Like PayPal, Skydo simplifies accepting payments from international clients. It offers virtual bank accounts with a unique 18-digit number that accepts payments and credits them to your linked bank account. The process is fast and there are no SWIFT charges like in the case of normal bank transfers.

Skydo charges USD 19 for payments under USD 2000, USD 29 for payments between USD 2001-10,000 and 0.3% for payments above USD 10,000. Skydo also offers live forex rate without any forex markup. Meaning if the live exchange rate is 1USD = 85 INR, Skydo will convert your payment at that rate without taking a cut. 

Here’s a quick comparison of how much will you pay to receive USD 5000 with Skydo vs PayPal:

Skydo's live forex rate and transparent fee make it a go-to solution for Indian businesses to receive international payments in India. As you can see in the above table, there is no fixed fee or markup on the market exchange rate meaning, the currency is converted at the current rate. You only have to bear $29 as fees and save Rs. 32,511.48 compared to PayPal’s fee structure. Further, Skydo’s India-based customer support team with a superfast onboarding process makes it a more viable option for businesses to receive international payments. So switch to Skydo today and experience the difference&nbsp;

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If you have been exploring platforms to receive payments from international clients in India recently, you might have come across PingPong Payments. It's a global money transfer service company founded in 2015 in New York with the global headquarters situated in Hangzhou, China.

Should you pick PingPong Payments to receive cross-border payments? We will help you answer this question by analyzing its features, its costs, and our expert opinion about it. At the end, we will also highlight how Skydo can be a better alternative for PingPong Payments.

PingPong Payment's global presence has made it a popular platform for e-commerce sellers and business owners to receive payments from foreign clients effortlessly. We have identified a few key points about PingPong payments that you must know while evaluating the platform.

If you are unaware of virtual accounts, we recommend reading our<a href="https://www.skydo.com/blog/virtual-account-numbers"> virtual bank account</a> blog to get complete details. In short, it's a digital account linked to your bank account and has an 18-digit bank account number that you share with your clients to accept payments. With PingPong payments, you can create virtual accounts in 15 different currencies. You also have the choice to receive payments in the same currency and then convert them into<a href="https://www.international.pingpongx.com/solutions/fintechs"> 25+ currencies</a>.

PingPong Payments is mostly sought after by e-commerce sellers because it integrates with major marketplaces and e-commerce platforms like Amazon, Shopify, Etsy, and Rakuten. That means if you're selling goods online on different platforms, you can manage payments of all these apps in a single place.

Even if you're not an e-commerce seller but pursuing some form of international trade, PingPong Payments could still be a good choice. For example, you can use it for making international payments to your suppliers in<a href="https://www.international.pingpongx.com/smb/ecommerce-sellers"> 195 countries</a> using SWIFT transfer.

PinPong Payments complies with international regulations like Anti Money Laundering (AML), Know Your Customer (KYC), and Payment Service Directive (PSD2). It also holds<a href="https://www.international.pingpongx.com/solutions/fintechs"> 60 financial payment licenses</a> in major economies like China, Hong Kong, Europe, and the US.

PingPong Fees to Receive International Payments in India

While PingPong Payments positions itself as a low-cost solution, the final costs can vary depending on the transaction amount and exchange rates. Here’s a quick breakdown to help you understand the fee structure better.

PingPong charges a 1% transaction fee on each payment you receive. While this may seem low at first glance, it can add up for higher-value transactions. For example, on a payment of USD 10,000, the transaction fee would be USD 100 (approximately INR 8,500, assuming an exchange rate of 1 USD = INR 85).

Additionally, PingPong does not publicly disclose the exact exchange rate applied during currency conversion. In general, platforms may include a markup on the mid-market rate, which is often around 1% to 2%. For instance, if the current mid-market rate is INR 85 per USD and a 2% markup is applied, the effective rate would be around INR 83.3. This means that for a USD 10,000 payment, you would receive approximately INR 8,33,000 instead of INR 8,50,000.

The same fee structure typically applies for Amazon Global Selling users receiving payments through PingPong.

We’ve summarized these examples into an illustration below to give you a clearer picture of what to expect when receiving US dollar payments via PingPong.

Integration with Multiple Marketplaces PingPong Payments’ easy integration with global selling platforms like Amazon, Shopify, and Etsy makes it convenient to expand business across borders without worrying about payment management.

Free VAT and Global Tax Payments The integrated tax management solution helps you pay VAT, GST, and other applicable taxes in 12 countries. This helps you make payments within the protocols and avoid penalties.

Free FIRA on Every Transaction A<a href="https://www.skydo.com/blog/importance-of-fira-for-freelancers"> Foreign Inward Remittance Advice (FIRA)</a> is an essential document as it proves you have received an international payment in India. Banks charge a fee for issuing FIRA every time, but platforms like PingPong Payments provide it for free within the PingPong dashboard.

Unavailability of Local Customer Support Like many other international payments platform, PingPong Payments doesn't have an India based support team, which can make resolution of queries a challenge for Indian customers..&nbsp;

PingPong Payments Review: The Good, Bad and Ugly

We dug into the reviews of PingPong Payments on Trustpilot, a software review website to bring out the good, bad, and ugly sides of it:

Customer Support PingPong Payments receives brownie points in this area. We found two reviews on the website that highlight the professional and helpful nature of the customer support team. One reviewer even goes to the extent of mentioning the names of the customer service executives who helped her<a href="https://www.trustpilot.com/reviews/649282738d146d7288d35aab"> resolve the issue</a>.

Users on review platforms have reported challenges in getting <a href="https://www.trustpilot.com/reviews/678c922cf87236b67d11504f">balance refunds </a>after closing their PingPong accounts. According to their feedback, the process often involved filling out multiple documents and repeated follow-ups, with no clear communication on timelines.

Some users also mentioned experiences where their payments or receivables were temporarily blocked. In<a href="https://www.trustpilot.com/users/6549434d146789001292b71f"> one instance</a>, a user described the difficulty of navigating the situation when access to their funds was restricted.

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