logo

Airwallex vs Razorpay: which is better for international payments in 2026?

  • Airwallex is a global banking platform, with 20+ currency accounts and corporate cards, but India is not a supported Global Account market
  • Razorpay is easy for existing domestic users, with 1% flat pricing and zero FX markup, but the fee grows large as your invoices get bigger
  • Which one is better comes down to your priorities - fees, FIRA handling, and how your clients prefer to pay
Accept payment from 150+ countries
USD
Client pays
USD 100USD 100,000
1 USD = 85.00 INR
Live fx rate
You'll receiveINR
₹4,22,091
Airwallex
₹4,13,729
You lose:2.7%
Razorpay
₹4,19,985
You lose:1.2%
100+ reviews
Trusted by 40,000+ businesses
Over $1B processed • Licensed by RBI
RBI PA-CB authorizedHDFC BankISO 27001 certifiedVisa

Airwallex vs Razorpay: understanding the key differences

Both Airwallex and Razorpay are well-known names for international payments, but they differ in who can use them from India, fees, export documentation like FIRA, GST compliance, settlement timelines, and support. Here is how they compare side by side.
FeaturesAirwallexrazorpay
Transfer fees0.5-1% FX plus $10-30 SWIFT per transfer1% on bank transfers (cards 3%, wallets 3.5%)
Forex markup0.5-1% above interbankZero, live exchange rate
FIRANot confirmed as automaticAutomatic FIRA per transaction
eBRCNot confirmedNot supported, closed on DGFT after your bank issues the IRM
GST-compliant invoiceNot availableBuilt-in invoicing tool that is GST compliant
Settlement time2-3 business days via SWIFT1 business day
Customer supportChat and email, global queueIndia-based support
Best suited forGlobal banking, corporate cards, treasuryLower-value invoices where 1% takes a smaller cut

Airwallex vs Razorpay: pricing and forex breakdown

Beyond the published fees, the real cost is what lands in your bank after fees, forex and GST. Move the slider to see what each one works out to, and how Skydo compares.
With Skydo, you receive₹8,47,091
Money transferUSD 10,000
$500$10K$100K$1M
Airwallex0.5-1% markup
₹8,29,464
Exchange rate84.15
Forex markup₹8,500
Transfer fee₹8,500
Fixed fee₹1,700
GST (18%)₹1,836
Total fees₹20,536
You receive₹8,29,464
razorpay0% markup
₹8,39,970
Exchange rate85.00
Forex markup₹0
Transfer fee₹8,500
Fixed fee₹0
GST (18%)₹1,530
Total fees₹10,030
You receive₹8,39,970

Airwallex vs Razorpay: compliance, payment rails, and platform comparison

Airwallex
  • No confirmed automatic FIRA for India inward remittances
  • No automated eBRC, generate manually through DGFT
  • Invoicing tool does not produce GST-compliant invoices for India
  • No confirmed purpose-code handling published
  • SOFTEX and EDPMS handled separately
razorpay
  • Generates a digital FIRA automatically for every transaction on the dashboard
  • No automated eBRC, you close it on the DGFT portal once your bank issues the IRM
  • Has a built-in invoicing tool that produces GST-compliant invoices
  • Leaves the purpose code to your AD bank at settlement, outside the payment flow
  • SOFTEX and EDPMS are handled separately, not by Razorpay

Airwallex vs Razorpay: which one is right for you

There is no single winner. The right pick depends on who pays you, how large your invoices are, and how much paperwork you can handle.
01Airwallex

Choose Airwallex if:

You want Airwallex's global banking breadth, and can absorb the plan fee plus SWIFT charges on top of your FX cost.
  • Business already using Airwallex for cards or payroll
  • New exporter wanting to start without an invite today
  • Team valuing one dashboard over India compliance
  • Company running multi-country treasury operations
02razorpay

Choose Razorpay if:

You want bank transfer rails and 1% pricing with zero markup, and value an India-first stack.
  • You are an exporter or freelancer who wants to be paid by local bank transfer, like ACH, SEPA, or SWIFT, rather than card
  • You want 1% with zero forex markup instead of a percentage-plus-markup structure
  • You want automatic per transaction FIRA generated on the dashboard
  • You already run on Razorpay's India stack and want gateway, payouts, and collections in one dashboard

Skydo: a better alternative to Airwallex and Razorpay

FeaturesAirwallexrazorpay
Settlement time2-3 days via SWIFT1 business day24 hours
Forex markup0.5-1%Zero, live rateZero, live rate
Transaction fee0.5-1% FX + $10-30 SWIFT1% on transfers$19 up to $2k, $29 up to $10k, 0.3% aboveBest
FIRANot confirmedAutomatic, per transactionFree, instant, per payment
eBRC and EDPMSNot confirmedNot supported, handled with your AD bankOne-click eBRC, EDPMS closure assistance
GST invoicingNot availableBuilt in, GST compliantBuilt in, GST compliant
Customer supportGlobal queueIndia-based supportIndia-based, on WhatsApp, call and email
Payment trackingLimitedDashboard, payment statusAuto tracked, remittance to bank deposit
RBI authorisationNo PA-CB confirmed (Singapore entity)Full PA-CB (Dec 2025)Full PA-CB authorized
Losing money on each transfer but not sure how much?

See what our clients say about us

100+ reviews
Trusted by 40,000+ businesses
Shashank
“I'm looking for straightforward, transparent pricing. With most payment providers, it's hard to understand the actual fees and exchange rates, making it difficult to know what I'm really paying.”ShashankCEO, HCODE

Frequently asked questions

Which is better, Airwallex or Razorpay, for international payments in 2026?+
It comes down to how your clients pay you and how much compliance you want handled. Airwallex is a global banking platform with 20+ currency accounts and corporate cards, but India is not a supported Global Account market and payments route via SWIFT. Razorpay handles international bank transfers at 1% with zero FX markup and automatic FIRA, though the percentage fee grows with invoice size. Airwallex suits global banking and treasury operations, while Razorpay suits lower-value invoices and existing Razorpay users.
Is Airwallex cheaper than Razorpay?+
Usually not. Airwallex charges a 0.5 to 1% FX spread plus $10-30 per SWIFT transfer, with plan fees on higher tiers, roughly 2.5 to 3.5% all in for Indian exporters. Razorpay charges 1% plus GST on international bank transfers with zero forex markup, roughly 1.2% all in. Razorpay is generally cheaper, though what actually lands in your bank depends on invoice size.
Which provides better exchange rates, Airwallex or Razorpay?+
Razorpay. Airwallex adds a 0.5 to 1% spread above interbank, while Razorpay converts at the live exchange rate with zero markup.
Do Airwallex and Razorpay provide FIRA for Indian exporters?+
Airwallex does not publicly confirm automatic FIRA for India inward remittances. Razorpay generates a digital FIRA automatically for every transaction. For GST refunds and export compliance an instant per-payment FIRA matters — Skydo issues one free with every payment.
Are Airwallex and Razorpay RBI-approved for receiving payments in India?+
Airwallex onboards Indian businesses via its Singapore entity, with no RBI PA-CB authorisation publicly confirmed. Razorpay holds full PA-CB authorisation (Dec 2025) alongside its PA licence.
Is Airwallex or Razorpay better for freelancers or businesses?+
Businesses already using Airwallex for cards, payroll or treasury lean towards Airwallex. Exporters who want bank-transfer rails at a low percentage fee, or who already run on Razorpay's India stack, lean towards Razorpay.
Is there a better alternative to Airwallex and Razorpay for receiving money in India?+
Skydo is built for Indian exporters and freelancers. It charges a flat fee ($19 up to $2k, $29 up to $10k, 0.3% above) that works out cheaper than a percentage fee as invoices grow, with zero forex markup, instant FIRA on every payment, one-click eBRC and EDPMS closure assistance, built-in GST-compliant invoicing, full RBI PA-CB authorisation, and India-based support.

Ready to save more on international payments?

Start receiving global payments with Skydo and keep more of what you earn.