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PingPong vs Cashfree: which is better for international payments in 2026?

  • PingPong is built for Amazon, Shopify and Etsy sellers, with a 1% headline fee, but users report a hidden FX markup of 0.5% to 2%
  • Cashfree holds the RBI PA-CB licence and settles within days, but its fee is a third-party estimate of 1 to 1.5% rather than a published price, and invoices above $10,000 fall outside the product
  • 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
PingPong
₹4,14,673
You lose:2.4%
Cashfree
₹4,18,731
You lose:1.5%
100+ reviews
Trusted by 40,000+ businesses
Over $1B processed • Licensed by RBI
RBI PA-CB authorizedHDFC BankISO 27001 certifiedVisa

PingPong vs Cashfree: understanding the key differences

Both PingPong and Cashfree 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.
FeaturespingpongCashfree
Transfer fees1% flat on withdrawalEst. 1-1.5%, quote-only
Forex markup0.5% to 2% reported, not publicly disclosed0% claimed, unverified
FIRAFree, automatic for every transactionFree e-FIRA within 24 hours
eBRCNot publicly disclosedNot supported, closed on DGFT after your bank issues the IRM
GST-compliant invoiceNot availableNot available
Settlement timeNext business day after withdrawalWithin 7 days of NOSTRO credit
Customer supportDashboard live chat and account manager, not India-basedIndia-based; email, tickets, WhatsApp for enterprise
Best suited forAmazon, Shopify and Etsy sellers taking marketplace payoutsDomestic-plus-exporter businesses under the $10K cap

PingPong vs Cashfree: 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
pingpong0.5-2% markup
₹8,29,345
Exchange rate83.94
Forex markup₹10,625
Transfer fee₹8,500
Fixed fee₹0
GST (18%)₹1,530
Total fees₹20,655
You receive₹8,29,345
Cashfree0% markup (claimed)
₹8,37,463
Exchange rate85.00
Forex markup₹0
Transfer fee₹10,625
Fixed fee₹0
GST (18%)₹1,913
Total fees₹12,538
You receive₹8,37,463

PingPong vs Cashfree: compliance, payment rails, and platform comparison

pingpong
  • Operates via an RBI-approved liaison office, not a licensed PA-CB
  • Free automatic FIRA on every transaction
  • eBRC support not publicly disclosed
  • GST-compliant invoicing not available
  • One broad purpose code assigned by default, so a payment can be recorded under the wrong category
Cashfree
  • Issues free e-FIRA within 24 hours, per transaction
  • No automated eBRC, generate manually through DGFT
  • Invoicing tool does not produce GST-compliant invoices for India
  • Purpose code assignment method not publicly documented
  • SOFTEX and EDPMS handled separately via your bank

PingPong vs Cashfree: 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.
01pingpong

Choose PingPong if:

You sell primarily on Amazon, Shopify or Etsy and want built-in marketplace integration.
  • You're comfortable with the hidden FX markup users report (0.5% to 2%)
  • Your payouts are small and frequent
  • You don't need eBRC or GST invoicing on the platform
  • You want direct payout integrations with Amazon, Walmart, Etsy and Shopify
02Cashfree

Choose Cashfree if:

You want RBI PA-CB licensing from an established Bengaluru fintech and can work within the product's limits.
  • You're comfortable requesting a quote instead of seeing a published fee
  • Your invoices stay reliably under the $10,000 cap
  • You already run domestic payments through Cashfree and want one dashboard
  • You value a full PA-CB licence over published pricing

Skydo: a better alternative to PingPong and Cashfree

FeaturespingpongCashfree
Settlement timeNext business dayWithin 7 days of NOSTRO credit24 hours
Forex markup0.5-2% reported0% claimedZero, live rate
Transaction fee1% flatEst. 1-1.5%, quote-only$19 up to $2k, $29 up to $10k, 0.3% aboveBest
FIRAFree, automaticFree e-FIRA, 24 hrsFree, instant, per payment
eBRC and EDPMSNot publicly disclosedNot supported, handled with your AD bankOne-click eBRC, EDPMS closure assistance
GST invoicingNot availableNot availableBuilt in, GST compliant
Customer supportLive chat, not India-basedIndia-based, ticketsIndia-based, on WhatsApp, call and email
Payment trackingDashboard trackingReal-time dashboardAuto tracked, remittance to bank deposit
RBI authorisationLiaison office, not PA-CBFull PA-CB (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, PingPong or Cashfree, for international payments in 2026?+
It comes down to how your clients pay you and how much compliance you want handled. PingPong is built for marketplace sellers with a flat 1% fee and free FIRA, though users report a hidden 0.5 to 2% FX markup. Cashfree holds the RBI PA-CB licence and settles within days, but its fee is quote-only and every invoice above $10,000 falls outside the product. PingPong suits marketplace-led e-commerce sellers, while Cashfree suits domestic-plus-exporter businesses under the $10K cap.
Is PingPong cheaper than Cashfree?+
Usually not. PingPong charges a flat 1% fee, with users reporting a further 0.5 to 2% hidden FX markup, roughly 1.5 to 3% all in. Cashfree's Global Collections fee is not published — third-party estimates put it at 1 to 1.5% with 0% claimed FX markup, roughly 1.2 to 1.8% all in. Cashfree is generally cheaper, though what actually lands in your bank depends on invoice size.
Which provides better exchange rates, PingPong or Cashfree?+
Cashfree. PingPong's forex rates are not publicly disclosed — users report a 0.5 to 2% markup built in, while Cashfree claims 0% forex markup, though the rate is unverified.
Do PingPong and Cashfree provide FIRA for Indian exporters?+
PingPong generates a free FIRA automatically for every transaction. Cashfree auto-generates a free e-FIRA within 24 hours, per transaction. For GST refunds and export compliance an instant per-payment FIRA matters — Skydo issues one free with every payment.
Are PingPong and Cashfree RBI-approved for receiving payments in India?+
PingPong operates via an RBI-approved liaison office, not a licensed PA-CB. Cashfree holds a full PA-CB licence (Certificate 266/2025).
Is PingPong or Cashfree better for freelancers or businesses?+
Amazon, Shopify and Etsy sellers who want direct marketplace payout integrations lean towards PingPong. Businesses already running domestic payments on Cashfree, with invoices under the $10,000 cap, lean towards Cashfree.
Is there a better alternative to PingPong and Cashfree 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.