What is PayPal and how it works

PayPal is a digital wallet and online payment platform that allows individuals and businesses to send and receive money electronically across borders. Users create an account, link a bank account or card, and can then transfer funds using just an email address. PayPal acts as an intermediary, holding funds in your account until you withdraw them to your bank, which typically takes 3 to 5 business days in India. The platform charges a currency conversion markup and transaction fees that can add up, particularly for freelancers and exporters receiving regular international payments.

For Indian freelancers seeking a more cost-effective alternative, Skydo offers a compelling solution. As an RBI-authorised cross-border payments platform, Skydo is built specifically for exporters and freelancers, delivering faster settlements, transparent pricing, and better exchange rates than traditional options. You can explore a detailed PayPal overview to understand how the two platforms compare and decide which fits your business needs best.