Top PayPal Alternatives in India (2025) – Compare Wise, Payoneer, Stripe & More
PayPal has played a significant role in revolutionising global payments, particularly for freelancers and small businesses. It enabled millions of Indian professionals to accept payments from clients abroad with just an email address. Today, it still remains a widely used option and does support documentation like FIRA.
That said, many users are now exploring alternatives that offer lower fees, faster settlements, and more control, especially when dealing with larger volumes or regular business payments.
In this blog, we’ll break down the best PayPal alternatives for Indian freelancers, exporters, and business owners. Whether you need faster withdrawals, GST-compliant fee invoices, or better forex rates, we’ve compared platforms like Skydo, Wise, Payoneer, and more to help you make the right call.
Why Look Beyond PayPal?
PayPal has long been a go-to platform for freelancers and small businesses in India. It offers a familiar, easy-to-use interface and supports important compliance documentation like FIRA (Foreign Inward Remittance Advice), which is crucial for many Indian users.
However, as business needs evolve, some users have started seeking alternatives that offer more flexibility, especially around fees, exchange rates, and settlement timelines.
Here are a few common reasons Indian users look beyond PayPal:
- FX Markup: PayPal applies a currency conversion fee (typically 3–4%) on top of the mid-market exchange rate, which can significantly reduce the final amount received. This matters more as transaction volumes grow.
- Transaction Fees: In addition to the currency conversion fee, PayPal also levies a transaction fee of 4.4% plus a small fixed fee, which varies across currencies. For higher-value invoices, these can add up.
- FIRA Access: Although PayPal does offer FIRA, it’s not always available in real-time. Some users report delays or the need to manually request it, which can slow down GST refund filings or export documentation processes.
Because of these factors, many Indian freelancers and business owners are exploring modern alternatives that provide live forex rates, faster settlements, and more streamlined compliance, especially platforms built specifically for Indian exporters.
What Makes a Good PayPal Alternative?
When choosing a platform to receive international payments, Indian freelancers and businesses typically evaluate five key factors:
- Fees: Look for platforms with transparent, flat pricing and no hidden deductions, especially for larger transactions where small differences add up.
- Exchange Rates: Some services offer live mid-market forex rates without markup, while others include a margin. This directly impacts how much INR you actually receive.
- Currency & Country Support: A good alternative should allow you to receive payments in major currencies (like USD, EUR, GBP) and from key client regions.
- FIRA & Compliance: For Indian users, automated generation of Foreign Inward Remittance Advice (FIRA) and GST-compliant fee invoices can save time and help with refunds or export documentation.
- Ease of Use: Fast onboarding, simple payment instructions, and responsive support matter, especially if your clients are paying from abroad.
Together, these criteria help assess which platform offers the best value, reliability, and compliance support, not just lower fees.
Top 5 Alternatives to PayPal for Indian Freelancers and Exporters
1. Skydo – A Top PayPal Alternative for Indian Freelancers & Exporters
Skydo is a modern cross-border payment solution purpose-built for Indian service exporters. Whether you're a freelancer, agency, or SMB, Skydo helps you receive international payments faster, at live forex rates, and with complete compliance without the hidden costs often associated with traditional platforms.
✅ Key Features:
- Live Exchange Rates, Zero Markup: Unlike platforms that add a 2–4% markup on forex conversions, Skydo uses real-time mid-market rates, so you get more INR for every dollar earned.
- Transparent, Flat Fees: No surprises. Skydo charges $19 for transfers under $2,000, $29 up to $10,000, and 0.3% beyond that. No SWIFT fees. No deductions.
- Free, Instant FIRA: Skydo auto-generates FIRA for every transaction. No requests, no follow-ups, ideal for freelancers and exporters claiming refunds or incentives.
- Virtual Accounts in Key Markets: Instantly create local receiving accounts in the US, UK, EU, and more, helping your clients pay via simple domestic methods like ACH or SEPA.
- India-Based Support: Skydo’s responsive, India-based support team helps you through onboarding and compliance without long wait times.
⚠️ Considerations:
- Inbound-Only Payments: Skydo is focused on helping you receive international payments. It does not currently support outbound or vendor payments.
- Not for Card Payments or Small Ticket Sizes: If most of your clients pay via credit cards or your invoices are below $500, platforms like Wise might be more cost-effective.
Why Choose Skydo Over PayPal?
PayPal is a globally recognised platform and works well for many use cases, especially e-commerce and micro-payments. But for Indian professionals focused on high-value client transfers, Skydo offers lower forex costs, faster INR settlements, and built-in compliance, making it a strong alternative if you're looking to reduce fees and simplify documentation.
2. Payoneer – A Trusted PayPal Alternative for Indian Freelancers & Exporters
Description: Payoneer is one of the most widely used global payment platforms after PayPal. It’s especially popular among Indian freelancers and exporters who need to receive international payments from clients or global marketplaces like Amazon, Upwork, and Fiverr. With support for multiple currencies and direct marketplace integrations, it offers features that are similar to PayPal but with more flexibility for B2B use cases.
Key Features & Pros:
- Multi-Currency Receiving Accounts: Get local receiving accounts in USD, EUR, GBP, and other currencies, allowing clients to pay you as if they were doing a local bank transfer.
- Marketplace & Platform Integration: Ideal for freelancers and sellers on Upwork, Fiverr, Airbnb, Amazon, and more, with direct payout support.
- FIRA for Compliance: Payoneer issues a digital FIRA for transactions into Indian accounts, helping users meet compliance requirements like GST refund eligibility.
Cons to Consider:
- Fee Complexity:
While Payoneer offers free internal transfers, external transactions come with layered charges:
Card payments: ~3.2% fee
ACH debit (U.S.): ~1% fee
Currency conversion: Up to 3% forex markup
- Annual maintenance fee: In addition to charges for receiving international payments, Payoneer also charges an annual maintenance fee of $29.95 if you receive less than $2,000 in 12 months
Why Use Payoneer Instead of PayPal: If you’re an Indian freelancer or business receiving payments from marketplaces or clients abroad, Payoneer is a strong alternative to PayPal. It supports INR withdrawals, provides local account details for smoother collections, and enables easier compliance with FIRA. However, you’ll want to review its fee breakdown closely, especially if you receive payments in smaller ticket sizes.
3. Wise Business (formerly TransferWise) – A Transparent PayPal Alternative for Freelancers
Description: Wise has carved a niche for itself as a global money transfer service known for transparency and ease of use. For Indian freelancers and sole proprietors, Wise Business offers a modern alternative to PayPal, especially if you prioritise real exchange rates and a clean user experience.
Key Features & Pros:
- Mid-Market Exchange Rates (No Markups): Wise converts your payments at the real mid-market rate without hidden markups, helping you retain more of your income.
- Local Currency Accounts: You get bank details in major currencies like USD, GBP, and EUR, so clients abroad can pay you via local transfers instead of expensive international wires.
- Intuitive Dashboard: Wise’s user interface is beginner-friendly, which is especially helpful if you're handling your own finances as a freelancer or small business owner.
Cons to Consider:
- FIRA Costs Extra: Indian users can get a digital Foreign Inward Remittance Advice (FIRA), but it costs $2.50 per transaction, unlike platforms that offer it for free.
- Transfer Limits for Business Accounts: There's a cap of $10,000 per invoice for Indian freelancers, which might be limiting for higher-value projects or retainers.
- Not for Registered Companies: Wise currently supports only sole proprietors and freelancers in India, not private limited companies or partnerships.
Why Use Wise Instead of PayPal: If you're a freelancer or small business owner looking for a simpler, more cost-effective way to receive international payments, Wise is a strong PayPal alternative. Its biggest draw is the lack of FX markup, but it’s best suited for individuals or very small teams, not growing companies with complex needs.
4. Stripe – A Robust PayPal Alternative for Global Businesses
Description: Stripe is one of the most feature-rich payment platforms globally, supporting over 135 currencies and offering businesses a powerful backend to manage payments, subscriptions, invoicing, and more. While it's best known for enabling seamless checkouts and developer-friendly APIs, Stripe also doubles as a PayPal alternative for businesses seeking more control over their global transactions.
Key Features & Pros:
- Multi-Currency Support: Stripe accepts payments in 135+ currencies, making it highly versatile for businesses with a global customer base.
- All-in-One Payment Stack: Stripe goes beyond just payment collection; it offers tools for subscription billing, tax handling, fraud protection, and more.
Cons to Consider:
- Transaction Fees for International Payments: Stripe charges a 4.3% transaction fee for international cards, plus a 2% currency conversion fee, which can add up quickly for Indian businesses.
- FIRA Not Provided in India: Currently, Stripe does not offer a Foreign Inward Remittance Advice (FIRA), which is critical for Indian exporters to claim GST refunds and stay compliant.
- Onboarding Limitations for Indian Businesses: Stripe operates in India through a waitlist or invite model, and not all Indian business types are supported.
Why Use Stripe Instead of PayPal: Stripe is great for SaaS businesses and startups needing flexible, developer-friendly payment tools. But in India, it’s invite-only and doesn’t provide FIRA, which can make compliance tricky for freelancers and exporters. Ideal if you need customisation and can manage the extra setup.
5. PingPong – A PayPal Alternative for E-Commerce Sellers & Freelancers
Description: PingPong is a cross-border payments platform built for Indian e-commerce exporters and freelancers. It’s especially useful for those selling on global marketplaces like Amazon, eBay, or Wish, and for businesses that need to manage VAT/GST compliance when selling in the EU or UK.
Key Features / Pros:
- Free Digital FIRA: PingPong provides digital FIRA certificates to Indian users at no extra cost — an important compliance requirement for exporters.
- VAT/GST Support: The platform includes features for international tax compliance, particularly useful for sellers dealing with European markets.
- Marketplace-Friendly: Supports direct payments from platforms like Amazon, making it convenient for sellers to receive earnings.
Cons:
- Unclear Forex Rates: PingPong does not display mid-market FX rates publicly, so users may face hidden markups.
- Percentage-Based Fees: While a 1% fee sounds competitive, it can become costly on larger transfers. For example, a $10,000 payment means $100 in fees, more than flat-fee alternatives like Skydo.
Why Use PingPong Instead of PayPal: PingPong is a strong PayPal alternative for Indian e-commerce sellers looking for marketplace integrations and tax support. While PayPal offers global familiarity, PingPong stands out with its India-focused compliance support and potential savings on FIRA and VAT services. However, businesses should scrutinise FX costs before choosing it.
Other Notable PayPal Alternatives for Indian Users
While Skydo, Wise, Payoneer, Stripe, and PingPong are some of the most prominent PayPal alternatives, there are a few other platforms you might consider depending on your use case.
Indian Platforms with Cross-Border Capabilities
If you're looking for local platforms that support international transactions, especially for businesses based in India, these are worth a mention
Indian Platforms with Cross-Border Capabilities
If you're looking for local platforms that support international transactions, especially for businesses based in India, these are worth a mention:
Indian Platforms with Cross-Border Capabilities
If you're looking for local platforms that support international transactions, especially for businesses based in India, these are worth a mention:
- Razorpay: Razorpay allows Indian businesses to accept international payments through cards and payment links. It also offers a virtual account solution.
- Cashfree: Cashfree supports international payments via cards and payout APIs, making it a convenient option for businesses looking to get started quickly. While it's easy to set up and integrates well with domestic platforms, exporters with complex compliance needs may want to evaluate its documentation capabilities based on their specific use case.
- CCAvenue: Known for its multi-currency support and broad integration options. It’s more geared toward Indian e-commerce businesses but lacks automation around FIRA and GST documentation.
- Instamojo: A simple payment gateway suited to creators and solopreneurs in India. However, it doesn’t support direct international account setups or documentation like FIRA.
Global Platforms to Know
Some international players also get mentioned frequently when people search for PayPal alternatives:
- Skrill: Offers global wallet services and is popular in the gaming and betting industries. Less suitable for Indian freelancers or exporters due to high withdrawal fees and limited compliance support.
- Braintree (by PayPal): A full-stack payment platform for larger businesses, especially SaaS and marketplaces. However, it’s not ideal for individual freelancers or Indian SMBs because onboarding is complex and invite-only.
- Adyen: Best for global enterprises needing full payment orchestration. It’s overkill for small or mid-sized Indian businesses and typically doesn’t serve Indian freelancers directly.
- 2Checkout (now Verifone): Good for global e-commerce sellers and SaaS businesses. But onboarding for Indian users can be restrictive, and payouts aren’t always the fastest.
- Paddle: A SaaS-first payment platform that handles global taxes, subscriptions, and compliance. Strong for SaaS startups but not built for service exporters or freelancers.
Bottom line: If you're an Indian business, freelancer, or exporter receiving international payments, platforms like Skydo offer more relevant features, such as FIRA generation, INR settlement, and localised support, compared to many global platforms not tailored for India’s compliance landscape.
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
Is there a better alternative for 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 are PayPal charges in India?
Are there PayPal alternatives for freelancers?
Who are the top PayPal competitors?
