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PingPong vs Razorpay: 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%
  • 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
PingPong
₹4,14,673
You lose:2.4%
Razorpay
₹4,19,985
You lose:1.2%
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Trusted by 40,000+ businesses
Over $1B processed • Licensed by RBI
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PingPong vs Razorpay: understanding the key differences

Both PingPong 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.
Featurespingpongrazorpay
Transfer fees1% flat on withdrawal1% on bank transfers (cards 3%, wallets 3.5%)
Forex markup0.5% to 2% reported, not publicly disclosedZero, live exchange rate
FIRAFree, automatic for every transactionAutomatic FIRA per transaction
eBRCNot publicly disclosedNot supported, closed on DGFT after your bank issues the IRM
GST-compliant invoiceNot availableBuilt-in invoicing tool that is GST compliant
Settlement timeNext business day after withdrawal1 business day
Customer supportDashboard live chat and account manager, not India-basedIndia-based support
Best suited forAmazon, Shopify and Etsy sellers taking marketplace payoutsLower-value invoices where 1% takes a smaller cut

PingPong 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
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
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

PingPong vs Razorpay: 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
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

PingPong 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.
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
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 PingPong and Razorpay

Featurespingpongrazorpay
Settlement timeNext business day1 business day24 hours
Forex markup0.5-2% reportedZero, live rateZero, live rate
Transaction fee1% flat1% on transfers$19 up to $2k, $29 up to $10k, 0.3% aboveBest
FIRAFree, automaticAutomatic, per transactionFree, instant, per payment
eBRC and EDPMSNot publicly disclosedNot supported, handled with your AD bankOne-click eBRC, EDPMS closure assistance
GST invoicingNot availableBuilt in, GST compliantBuilt in, GST compliant
Customer supportLive chat, not India-basedIndia-based supportIndia-based, on WhatsApp, call and email
Payment trackingDashboard trackingDashboard, payment statusAuto tracked, remittance to bank deposit
RBI authorisationLiaison office, not PA-CBFull PA-CB (Dec 2025)Full PA-CB authorized
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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 Razorpay, 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. Razorpay handles international bank transfers at 1% with zero FX markup and automatic FIRA, though the percentage fee grows with invoice size. PingPong suits marketplace-led e-commerce sellers, while Razorpay suits lower-value invoices and existing Razorpay users.
Is PingPong cheaper than Razorpay?+
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. 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, PingPong or Razorpay?+
Razorpay. PingPong's forex rates are not publicly disclosed — users report a 0.5 to 2% markup built in, while Razorpay converts at the live exchange rate with zero markup.
Do PingPong and Razorpay provide FIRA for Indian exporters?+
PingPong generates a free FIRA automatically for every transaction. 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 PingPong and Razorpay RBI-approved for receiving payments in India?+
PingPong operates via an RBI-approved liaison office, not a licensed PA-CB. Razorpay holds full PA-CB authorisation (Dec 2025) alongside its PA licence.
Is PingPong or Razorpay better for freelancers or businesses?+
Amazon, Shopify and Etsy sellers who want direct marketplace payout integrations lean towards PingPong. 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 PingPong 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.

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