Top 5 PayPal India Alternatives for International Payments

Top PayPal India alternatives for international payments
Anoosh Kotak9 July 2024

PayPal India is one of the top choices for businesses and freelancers looking to receive international payments in India. With features like e-commerce integration, invoicing, and international money transfers, it’s a go-to platform for global transactions.

However, this comprehensive solution comes with significant costs. PayPal’s fees include a 4.4% transaction fee, a USD 0.30 flat fee, and a 4% markup on the exchange rate, which can add up while receiving cross-border payments. Given the steep fee, you might want to consider a few PayPal India alternatives. 

To ease compliance, PayPal provides a monthly digital FIRA to businesses and freelancers. This FIRA covers all international transactions from the previous month, and it is only available by the 15th of the subsequent month.

That said, while PayPal is known for its convenience, there are some concerns about the quality of its customer support including a lack of training and long wait times. 

Here’s a snapshot of PayPal India’s offerings, pricing, and a rundown of its pros and cons

Who is it for? For businesses, freelancers and individuals worldwide
Pricing4.4% Transaction fee + 0.3USD flat fee + 4% markup on exchange rate
ComplianceMonthly FIRA provided 
Additional featuresE-commerce integration, invoicing, international money transfers, credit/debit card services and more
Pros and Cons of Paypal India

Before finalizing PayPal as your global payment solution, explore these PayPal alternatives that can help you receive international business payments in India with ease.

5 PayPal India Alternatives for Receiving International Payments


Stripe, an Irish-American company, is a renowned payment processing and merchant services platform. Accepting over 135 currencies, it stands as a solid alternative to PayPal for international payments. Stripe offers a comprehensive suite of payment solutions, enabling businesses to manage subscriptions, payments, taxes, and accounting all in one place.

Stripe's fee for international transfers can be expensive as it includes a 4.3%% transaction fee and an additional 2% currency conversion fee.

Stripe does not provide FIRA to Indian businesses and freelancers, adding to their compliance burdens. Users have also expressed concerns about transparency in their communication.

Who is it for?For businesses and freelancers worldwide
Pricing4.3% transaction fee + 2% currency conversion fee
ComplianceFIRA not provided
Additional featuresComprehensive suite to manage subscriptions, payments, taxes, and accounting all in one place.
Pros and Cons of Stripe as PayPal alternative
Save 50% on every international transfer
Receive from 150+ countries
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Zero forex margin


Skydo is a global payment solution simplifying cross-border payments for freelancers and businesses in India. It offers virtual international bank accounts to its users in under 5 minutes and also supports an entire payments ecosystem consisting of payment tracking, invoice generation and more. 

Skydo simplifies payment conversions by using live Forex rates without any currency conversion fees or hidden charges. It provides a clear and straightforward fee structure making it a viable alternative to PayPal In India. 

Additionally, to ensure adherence to RBI and government regulations, Skydo offers free and instant FIRA, ready to download after every transaction. Each user is assigned a representative to assist with the onboarding process and to address any questions at any time. However, Skydo currently supports only inward remittances into India. This means that Indian businesses cannot send money outward via Skydo. 

Who is it for?Businesses and freelancers in India
Pricing Live forex rate with USD 19 for transfers up to USD 2,000, and USD 29 for transfers between USD 2,000 and USD 10,000.
ComplianceInstant and free FIRA after every transfer
Additional featuresPayment tracking, invoice generation, analytics and more
Pros and cons of Skydo as Paypal alternative


Founded in 2005, Payoneer is a leading payment solution for businesses and freelancers worldwide. It facilitates international transfers by providing users with virtual bank accounts in multiple currencies and integrating with leading marketplaces like  Amazon and Walmart 

Payoneer's pricing includes a 2-3% transaction fee and a 0.5% markup on the exchange rate. Additionally, there is a USD 29.95 annual account fee, making it a comparable PayPal alternative. 

To simplify compliance, Payoneer offers free digital FIRAs to Indian businesses and freelancers. However, users have expressed dissatisfaction with Payoneer's customer support which some have found to be virtually non-existent. 

Who is it for?For businesses and freelancers worldwide
Pricing 2-3% transaction fee +0.5% markup on the exchange rate +  USD 29.95 annual account fee
ComplianceDigital FIRA provided
Additional FeaturesUnsatisfactory customer support
Pros and cons of Payoneer as PayPal alternative
Save 50% on every international transfer
Receive from 150+ countries
Get global accounts
Zero forex margin


Wise (formerly TransferWise) is a global money transfer platform operating in over 80 countries.  Initially a peer-to-peer remittance service, Wise now offers multi-currency accounts for both individuals and businesses. However, Wise has temporarily halted the onboarding of new businesses in India, and using Wise’s P2P transfer for business payments may not comply with Indian regulations.  

Wise is known for using the mid-market foreign exchange rate with no markups, though it charges a currency conversion fee and a transaction fee which varies depending on the currency. For businesses, Wise provides digital FIRCs (compliance certificates) for an additional fee making it a viable Paypal Alternative. While Wise offers a user-friendly interface and efficient money transfer services, some users have noted that customer support can occasionally fall short in addressing and resolving issues effectively.

Here’s a quick overview of Wise’s offerings, pricing, and its pros and cons:

Who is it for?For businesses, freelancers and individuals worldwide
Pricing Transaction fee depending upon currency  + currency conversion fee
ComplianceFIRC not available in P2P offering. In business offering, eFIRC is available at an additional cost
Additional featuresDebit/expense card for use in 175+ nations
Pros and Cons of Wise as PayPal alternative

Ping Pong

Established in 2015, PingPong is a popular name in the cross-border payments arena, aiming to simplify international payments for freelancers, businesses, and e-commerce sellers. It offers multiple virtual accounts in global currencies and allows businesses to pay VAT/GST and other taxes with no additional costs.

PingPong charges a competitive 1% transaction fee, which is attractive but can become substantial for larger transactions. Additionally, since there is a lack of clarity around Ping Pong’s forex rate, there is a possibility of a markup on that rate.

For compliance, PingPong provides free digital FIRAs to Indian businesses and freelancers, making it a viable alternative to PayPal India. While their customer service is generally prompt, some users have found the onboarding process cumbersome.

Who is it for?For businesses, freelancers and e-commerce sellers
Pricing1% transaction fee + possible forex markup
ComplianceDigital FIRA provided
Additional featuresBusinesses can pay VAT/GST and other taxes at no additional costs
Pros and Cons and PingPong as PayPal alternative

Parting Thoughts

Choosing the right payment partner for your business is crucial. Issues like the lack of FIRA, forex markups, and currency conversion fees can make international transactions costly and inconvenient.

When selecting your international payment provider, consider the following factors:

Pricing: International transactions can be expensive, and there's no standard pricing model. Look for a provider with competitive rates so you can keep more of your hard-earned money.

User Experience: Managing global payments should be straightforward. Opt for an easy-to-use platform and reliable customer support to ensure smooth transactions.

Compliance: Cross-border payments are closely monitored to detect any suspicious activity. Select a trusted payment platform that meets regulatory requirements and simplifies compliance for you.

At Skydo, we offer a fast, secure, and less-expensive solution for you to receive international payments. Switch to Skydo today and enjoy the best in global payment solutions for your business.

Save 50% on every international transfer
Receive from 150+ countries
Get global accounts
Zero forex margin
Frequently asked questions

Is there a better alternative to PayPal?

PayPal is a leading global payment provider, but there are alternatives based on your needs. For receiving international payments in India, consider options like Skydo, Stripe, and Wise

What is PayPal's pricing?

Are there PayPal alternatives for freelancers?

About the author
Anoosh Kotak
“The 0 to 1 journey filled with interesting problem solving & learning experiences.”Sports, Travel & Binge-watching
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