10 Best Cross-Border Payments Companies in 2026: Fees, Licences and FIRA

The best cross border payments companies for Indian businesses are 1. Xflow, 2. Skydo, 3. Razorpay, 4. PayGlocal, 5. Cashfree, 6. Wise, 7. Payoneer, 8. Airwallex, 9. Stripe and 10. PayPal. Each one turns a payment from a client abroad into rupees in your Indian bank account, but they differ on RBI licence, fee, conversion rate and the export paperwork you get back.

Cross border payments companies in India and abroad fall into five types, from export receiving platforms and card gateways to payout networks and infrastructure, and India's services exports alone reached about $421 billion in FY2025-26. This list is ordered by cost on a typical $2,000 to $10,000 export invoice, RBI status and the paperwork you get back. If you are an exporter, agency, SaaS company or freelancer in India, three other questions decide the choice: can an India-registered business sign up and receive, what does one invoice really cost once conversion is added, and will a Foreign Inward Remittance Advice (FIRA) or certificate (FIRC) arrive for your GST and bank records without you asking.

• 1. Xflow - Built for IT and service exporters who invoice clients abroad every month and want the fee and the eFIRA settled before the money lands.
• 2. Skydo - Built for exporters who want a flat fee they can quote into a contract and file eBRCs regularly.
• 3. Razorpay - Built for businesses already taking domestic payments on Razorpay that want an export route in the same dashboard.
• 4. PayGlocal - Built for goods and service exporters that want a card gateway and local receiving accounts from one provider.
• 5. Cashfree - Built for D2C and e-commerce brands selling abroad that want cross-border collections next to domestic ones.
• 6. Wise - Built for a business that receives from clients and also pays contractors abroad from one balance.
• 7. Payoneer - Built for freelancers and sellers paid by Upwork, Fiverr or Amazon, where the marketplace picks the rail.
• 8. Airwallex - Built for companies with a team or entity in Asia-Pacific that want multi-currency accounts and cards.
• 9. Stripe - Built for SaaS and online businesses taking card and subscription payments on their own website.
• 10. PayPal - Worth keeping for the client who will pay no other way.

From each company's own pages, October 2026.

A cross-border payments company moves money between a payer in one country and a receiver in another, and converts the currency on the way, usually faster and with a smaller FX margin than a bank wire over SWIFT. What changes from one company to the next is the job it does, which is why a list mixes names that never compete with each other.

1. Xflow

Xflow is built for one job: money coming into India against an invoice. Your client gets local-style bank details in 25+ currencies and pays you like a local vendor; Xflow converts at the live mid-market rate and sends rupees to your Indian bank account the next business day.

Xflow Payments India Private Limited holds final RBI PA-CB authorisation for inward and outward payments, dated February 2026. Pricing is a flat $12 up to $2,000 on Starter or a flat $20 up to $5,000 on Growth; above each threshold a percentage replaces the flat fee.

Key features

• Receiving accounts in 25+ currencies; your client pays by local transfer, so there is nothing to integrate.
• Conversion at the live mid-market rate, with the fee shown before you invoice.
• eFIRA generated automatically for every payment.
• Limit orders: set a target USD/INR rate and the conversion runs when the market reaches it.
• SOFTEX and EDPMS support, plus bank confirmation letters, from its compliance desk.

Pros

• Fee known before the invoice goes out.
• Rupees in your bank the next business day.
• ISO 27001 and SOC 2 certified.

Cons

• Not the cheapest at every invoice size: between about $7,250 and $10,000, Skydo's flat $29 costs less than Growth's 0.4%.
• Pricing above $10,000 is negotiated, not published.
• No domestic UPI or card checkout.
• 25+ currencies is narrower than the widest multi-currency accounts.

Best for: Indian exporters, agencies and freelancers who invoice overseas clients directly and want predictable fees and paperwork.

Verdict: The strongest all-round choice for invoices between $2,000 and $10,000 paid by bank transfer; less suited if you need domestic checkout or invoice well above $10,000 every time.

2. Skydo

Skydo is an India-focused receiving platform with accounts in the US, UK, Canada, Australia and more, priced at a flat fee with zero FX margin. Payments reach your bank in under 24 hours with a FIRA in your inbox.

Skydo Technologies Private Limited received final PA-CB authorisation in January 2026. It charges $19 up to $2,000, $29 from $2,001 to $10,000 and 0.3% above that, all before 18% GST, with custom pricing above about $100,000 a month.

Key features

• Flat fee per payment, with zero FX margin.
• Bulk eBRC generation once your DGFT account is linked.

Pros

• The fee does not move with the exchange rate.
• Payments in under 24 hours with a FIRA in your inbox.
• A fee calculator prices any invoice before you sign up.
• Bulk eBRCs save a monthly filing job for goods and software exporters.

Cons

• $19 is 3.8% of a $500 invoice before GST.

Best for: Exporters and freelancers who want the exact fee upfront and file eBRCs every month.

Verdict: A strong choice for mid-sized invoices and eBRC-heavy exporters; small or occasional payments are where the flat fee hurts.

3. Razorpay

Razorpay is India's best-known payment gateway, and its export route sits alongside domestic UPI and card checkout. Clients can pay into a multi-currency account by local bank transfer for 1% plus GST, or by international card for up to 3% plus GST; a fixed ₹1,000 applies to transfers below ₹1,00,000.

Razorpay Payments Private Limited received final PA-CB authorisation for inward and outward payments in December 2025, and it now generates FIRA and eFIRC automatically on its export routes.

Key features

• Cards in 135 currencies, and bank transfers into multi-currency accounts at 1% with no FX markup.
• FIRA and eFIRC generated automatically on export payments.
• Domestic UPI, cards and international payments in one dashboard.

Pros

• One login for domestic checkout and export receipts.
• Card acceptance for clients who will not wire money.
• Final PA-CB authorisation for inward and outward payments.

Cons

• The price depends on how your client pays: 1% by bank transfer, up to 3% by card, plus GST.
• A fixed ₹1,000 on transfers below ₹1,00,000 makes small invoices expensive.
• Card payments depend on the client's bank approving a cross-border charge.

Best for: Businesses that already run domestic payments on Razorpay and receive some payments from abroad.

Verdict: Convenient if Razorpay is already your checkout; a dedicated receiving account usually keeps more of each export invoice.

4. PayGlocal

PayGlocal combines an international card gateway with local receiving accounts in USD, GBP, EUR, CAD, AUD and more, so one provider covers both card payments and bank transfers from abroad. It settles in INR in under 24 hours and issues a FIRA on every inward remittance.

PayGlocal holds final PA-CB authorisation for inward and outward payments (certificate 250/2025, November 2025). It lists $0 set-up, platform and documentation fees and no FX markup, but the per-payment fee is quoted on request.

Key features

• A card gateway and local receiving accounts in USD, GBP, EUR, CAD and AUD in one stack.
• Collections in 33+ currencies from 180+ countries.
• Plugins for Shopify, WooCommerce and Magento, plus collection from freelance platforms.
• FIRA on every inward remittance.
• INR settlement in under 24 hours.

Pros

• Covers both card checkout and bank transfers for goods and service exporters.

Cons

• No published per-payment fee.

Best for: Exporters that sell online by card and also receive large invoices by bank transfer.

Verdict: A good fit if you want gateway and receiving accounts together; ask for a written fee before you switch.

5. Cashfree

Cashfree's cross-border product accepts payments in 100+ currencies through international cards, PayPal and a SWIFT account, and can settle into your EEFC account. Its local accounts in USD, EUR, CAD and GBP let clients pay by local transfer.

Cashfree Payments India Private Limited was among the first companies to receive final PA-CB authorisation, in 2024, the longest run of any company here. Fees for cross-border collections are quoted on application.

Key features

• Cards, PayPal and local accounts in USD, EUR, CAD and GBP, plus a SWIFT account.
• Settlement into an EEFC account if you want to hold foreign currency.

Pros

• Among the first companies with final PA-CB authorisation.
• e-FIRA within 24 hours at no extra cost.
• Real-time FIRC reports for export incentive claims.
• Domestic and cross-border collections reconcile in one place.

Cons

• No published fee for cross-border collections.
• Settlement at T+1 to T+2, a day behind the fastest options here.

Best for: D2C, e-commerce and subscription brands already using Cashfree for domestic payments.

Verdict: The closest one-stop option for brands selling at home and abroad; without a published rate, compare it on a quote.

6. Wise

Wise Business gives you account details in USD, GBP, EUR, AUD, CAD, NZD, SGD and HUF, converts at the mid-market rate and shows its fee before you convert. Wise reported $243.5 billion of cross-border volume and 18.9 million active customers in the year to March 2026. Receiving into India costs about 1.6% to 1.7% plus 18% GST on that fee, plus a small eFIRC fee, so roughly 2% all-in.

Wise Payments India Private Limited holds final PA-CB authorisation for inward payments only, dated March 2026, so the same account cannot be your outward rail from India.

Key features

• Local account details in USD, GBP, EUR, AUD, CAD, NZD, SGD and HUF.
• A spendable multi-currency balance for paying contractors and suppliers abroad.
• An itemised fee before every conversion, at the mid-market rate.

Pros

• One account receives and pays out in several currencies.
• The most transparent fee display in this list.
• Large scale: $243.5 billion of cross-border volume in a year.
• Local transfers can land in about a day.

Cons

• Above about $1,100 per invoice, roughly 2% costs more than the flat-fee providers.
• Its India authorisation covers inward payments only.

Best for: Exporters that also pay contractors, suppliers or subsidiaries abroad.

Verdict: Worth the higher receiving cost only if you use the multi-currency balance; for receiving alone, a flat-fee provider keeps more.

7. Payoneer

Payoneer is a payout network first, which is why Upwork, Fiverr and Amazon pay into it directly. You can hold several marketplace payouts in one account and withdraw to an Indian bank within 48 hours. It processed $87.5 billion of volume in 2025.

Receiving into a local-currency account is free and non-local currency costs 1%, but the conversion markup at withdrawal ranges from 1% to 4%. Payoneer India received in-principle, not final, PA-CB approval in January 2026.

Key features

• Native payouts from Upwork, Fiverr, Amazon and other marketplaces into one account.
• Withdrawal to an Indian bank within 48 hours.
• A prepaid card and working-capital options for sellers.

Pros

• Marketplaces pay into it with no extra set-up.
• Receiving in a local currency is free.

Cons

• The 1% to 4% conversion markup at withdrawal makes cost hard to predict.
• A $29.95 annual fee if you receive under $6,000 in twelve months.
• Card payments from clients cost up to 3.99% plus $0.49.
• RBI approval is in-principle only.

Best for: Freelancers and sellers whose income arrives through marketplaces.

Verdict: The natural choice when a marketplace already pays you; for direct client invoices, a receiving account costs less.

8. Airwallex

Airwallex offers global business accounts, multi-currency cards and expense tools across Asia-Pacific, Europe and the Americas. India-registered businesses are onboarded through its Singapore entity, it does not offer an INR global account, and conversion is priced as a spread over the interbank rate.

Airwallex is not authorised as a cross-border payment aggregator in India, so INR settlement and export paperwork work differently from the India-focused companies above.

Key features

• Multi-currency accounts, corporate cards and expense controls in one account.
• APIs for embedding payments and payouts, including INR payouts.

Pros

• Strong if your company already runs through Singapore or Australia.

Cons

• No INR account and no Indian PA-CB authorisation.
• India-registered businesses are onboarded through its Singapore entity, so eligibility needs confirming.
• FX is a spread over the interbank rate, not the mid-market rate.

Best for: Companies with an entity or team in Asia-Pacific that manage spend across several currencies.

Verdict: Useful for global spend management; not the first choice for an Indian business that simply wants export payments in rupees with a FIRA.

9. Stripe

Stripe sells card acceptance, checkout and subscription billing, and access for India-registered businesses is by invitation. International cards cost 3%, plus 2% when currency conversion is needed, plus GST.

Stripe holds a domestic payment aggregator licence but no cross-border authorisation in India. Payouts follow a schedule of about five business days after each payment, and the first payout waits seven days.

Key features

• Checkout, invoicing and subscription billing on one integration.
• Mature APIs and test tools for developers.
• Payouts on an automatic schedule only for India accounts.

Pros

• Hard to beat for SaaS billing and online checkout.
• Many tools you already use connect to it.
• Accepts a wide set of payment methods abroad.

Cons

• No RBI cross-border authorisation.
• Invite-only for India-registered businesses.
• 3% plus 2% conversion plus GST costs more than a receiving account.
• The first payout waits seven days, then about five business days per payment.

Best for: SaaS and online businesses that mainly need card and subscription payments.

Verdict: Pick it for checkout, not for receiving B2B invoices; exporters paid by bank transfer will pay less elsewhere.

10. PayPal

PayPal earns its place on client familiarity: it processed $1.79 trillion of payments in 2025, about 12% of it cross-border. Money lands in your PayPal balance, converts to rupees at PayPal's rate and withdraws automatically to your Indian bank, usually within one to four business days, with a FIRA generated automatically.

A commercial payment from abroad costs 4.4% plus ₹3, and conversion adds 3% to 4% above PayPal's base rate. Its India cross-border approval is in-principle, granted in May 2025.

Key features

• Payment links and invoices with nothing to build.
• Automatic conversion, withdrawal to an Indian bank and FIRA.

Pros

• Some clients will pay only by PayPal.
• Recognised by payers in almost every market.

Cons

• Often 7% to 8% all-in once fee, conversion and GST are added, the most expensive route here.
• Conversion at PayPal's own rate, not the mid-market rate.
• RBI approval is in-principle only.
• No domestic INR payments since April 2021, so it is purely a cross-border tool in India.

Best for: Sellers whose overseas clients insist on paying through PayPal.

Verdict: Keep it for the client who will pay no other way, and route everything else through a cheaper option.

Global lists also include these companies, which are not built for an Indian business receiving payments.

Totals on one $5,000 invoice from published rates, before GST.

On this invoice, the gap between the cheapest and the most expensive route is close to $400. PayGlocal and Cashfree quote fees on request, so ask both for the same $5,000 example.

Most cross border payment platforms do one job well, so start from how your clients pay you, not from the brand.

• If a marketplace such as Upwork, Fiverr or Amazon pays you, Payoneer is usually already the rail.
• If you are an IT or service exporter invoicing clients by bank transfer, a receiving account such as Xflow or Skydo keeps the most of each invoice and sends the FIRA automatically.
• If you sell online and clients pay by card, PayGlocal or Razorpay give you a gateway and receiving accounts together, and Stripe suits subscription billing.
• If you are a D2C or e-commerce brand selling at home and abroad, Cashfree or Razorpay keep both sets of payments in one dashboard.
• If you also pay suppliers or contractors abroad, Wise's multi-currency balance can do both jobs, at a higher receiving cost.

For an Indian business comparing cross border payment solutions, four checks matter more than the feature list.

• RBI authorisation: a company that settles INR in India should hold final PA-CB authorisation for the direction you need. In-principle approval is not final.
• FIRA or FIRC for every payment: you need proof of inward remittance to treat a service as a zero-rated export under GST and to close the export entry with your bank.
• Total cost: add the fee, the conversion margin and any withdrawal charge, as in the $5,000 table.
• Limits and purpose codes: RBI caps each PA-CB transaction at ₹25 lakh, and every receipt carries a purpose code, such as P0802 for software consultancy and implementation.

You do not file Form 15CA or 15CB when you receive money; those forms apply to payments you send abroad.

Yes, but only for personal payments today. UPI is live in 11 countries for paying merchants abroad or sending money to family, and NRIs can use it with an international mobile number. An Indian business cannot yet use UPI to collect an invoice from a client abroad, so exporters still need a receiving account or gateway.

UPI crosses borders in three different ways, and each has its own rules.

What this means for a business. The remittance linkages are limited to personal purposes such as family maintenance and gifts, so a US or UK client cannot pay your export invoice by UPI, and a payment received that way would not come with the FIRA or FIRC you need for GST and your bank. Use UPI for travel and family transfers, and a receiving account or gateway from the list above for invoices.

UPI does help in the other direction. A foreign company selling to Indian customers can accept UPI from them through an RBI-authorised cross-border payment aggregator, which is why UPI acceptance is a selling point for overseas SaaS and e-commerce brands entering India.