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

  • 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
  • Remitly is a top-rated consumer remittance app — transfers land in minutes and pricing beats the banks, but it is built for personal payments, not invoices
  • 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
Razorpay
₹4,19,985
You lose:1.2%
Remitly
₹4,21,175
You lose:0.9%
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Trusted by 40,000+ businesses
Over $1B processed • Licensed by RBI
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Razorpay vs Remitly: understanding the key differences

Both Razorpay and Remitly 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.
FeaturesrazorpayRemitly
Transfer fees1% on bank transfers (cards 3%, wallets 3.5%)$3.99 under $1,000, free above (paid by the sender)
Forex markupZero, live exchange rate~0.3-1.5% inside the exchange rate
FIRAAutomatic FIRA per transactionNot issued at any price
eBRCNot supported, closed on DGFT after your bank issues the IRMNot supported, payments never enter the export system
GST-compliant invoiceBuilt-in invoicing tool that is GST compliantNot available
Settlement time1 business dayMinutes (Express) to 3-5 days (Economy)
Customer supportIndia-based support24/7 chat and phone, for the sender
Best suited forLower-value invoices where 1% takes a smaller cutPersonal remittances from family abroad

Razorpay vs Remitly: 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
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
Remitly~0.3-1.5% markup
₹8,42,350
Exchange rate84.23
Forex markup₹7,650
Transfer fee₹0
Fixed fee₹0
GST (18%)₹0
Total fees₹7,650
You receive₹8,42,350

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

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
Remitly
  • No FIRA or FIRC issued, at any price
  • Payments arrive under personal purpose codes (P1301/P1302), not export codes
  • No GST-compliant invoicing — no invoicing at all
  • No eBRC support; EDPMS entries are never created
  • Consumer terms prohibit business use outright — it's a breach of the user agreement

Razorpay vs Remitly: 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.
01razorpay

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
02Remitly

Choose Remitly if:

You want Remitly's consumer speed and polish, and the payment is genuinely personal.
  • Client is an individual who already uses the app
  • Small, occasional transfers with no paperwork needs
  • Speed to UPI or a bank account is the top priority
  • You accept personal-remittance classification and no FIRA

Skydo: a better alternative to Razorpay and Remitly

FeaturesrazorpayRemitly
Settlement time1 business dayMinutes to 3-5 days24 hours
Forex markupZero, live rate~0.3-1.5% in the rateZero, live rate
Transaction fee1% on transfers$3.99 under $1K, else free (sender pays)$19 up to $2k, $29 up to $10k, 0.3% aboveBest
FIRAAutomatic, per transactionNot issuedFree, instant, per payment
eBRC and EDPMSNot supported, handled with your AD bankNot supportedOne-click eBRC, EDPMS closure assistance
GST invoicingBuilt in, GST compliantNot availableBuilt in, GST compliant
Customer supportIndia-based supportSender-side onlyIndia-based, on WhatsApp, call and email
Payment trackingDashboard, payment statusSender app trackingAuto tracked, remittance to bank deposit
RBI authorisationFull PA-CB (Dec 2025)Not on PA-CB register (RDA rail)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, Razorpay or Remitly, for international payments in 2026?+
It comes down to how your clients pay you and how much compliance you want handled. Razorpay handles international bank transfers at 1% with zero FX markup and automatic FIRA, though the percentage fee grows with invoice size. Remitly is a top-rated consumer remittance app whose transfers land in minutes, but it moves personal remittances — business income arrives misclassified with no FIRA. Razorpay suits lower-value invoices and existing Razorpay users, while Remitly suits genuinely personal transfers, not invoices.
Is Razorpay cheaper than Remitly?+
Usually not. Razorpay charges 1% plus GST on international bank transfers with zero forex markup, roughly 1.2% all in. Remitly's cost sits almost entirely inside the exchange rate at roughly 0.3 to 1.5%, and the overseas sender pays it — but no FIRA is ever issued and transfers arrive under personal purpose codes. Remitly is generally cheaper — but it is a consumer remittance app: the costs sit with your sender, no FIRA is issued, and business use breaches its terms, though what actually lands in your bank depends on invoice size.
Which provides better exchange rates, Razorpay or Remitly?+
Razorpay. Razorpay converts at the live exchange rate with zero markup, while Remitly builds roughly 0.3 to 1.5% into the exchange rate, varying by corridor and tier.
Do Razorpay and Remitly provide FIRA for Indian exporters?+
Razorpay generates a digital FIRA automatically for every transaction. Remitly issues no FIRA or FIRC at any price — a personal-remittance credit is not export-classified. For GST refunds and export compliance an instant per-payment FIRA matters — Skydo issues one free with every payment.
Are Razorpay and Remitly RBI-approved for receiving payments in India?+
Razorpay holds full PA-CB authorisation (Dec 2025) alongside its PA licence. Remitly has no RBI authorisation of its own — it delivers via partner banks under the Rupee Drawing Arrangement, a personal-remittance rail.
Is Razorpay or Remitly better for freelancers or businesses?+
Exporters who want bank-transfer rails at a low percentage fee, or who already run on Razorpay's India stack, lean towards Razorpay. Remitly only fits genuinely personal transfers — its consumer terms prohibit business use outright.
Is there a better alternative to Razorpay and Remitly 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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