5 ways Xflow is simplifying international payments for Indian businesses

In today's globally connected marketplace, businesses of all sizes (including freelancers and small and medium businesses) are expanding their reach. To be successful through this expansion phase, the need for efficient management of international payments is crucial. However, many Indian businesses face significant challenges in receiving international payments, including foreign exchange fluctuations, delays in processing time and high transaction fees.

Good news: Xflow's tailored solution is transforming the international payments landscape. Xflow is simplifying every step of the transaction process, allowing businesses to focus on growth rather than managing cross-border payments hurdles.

Let's explore five ways Xflow is revolutionizing international payments

The challenge:

Traditional payment methods like international bank transfers or wire transfers often come with high fees that impact the bottom line of a business. Wire transfer fees factor in multiple elements, such as the banks involved, currency, and countries involved in the transaction.

For international business payments, these typically fall into three categories: transfer fees, intermediary bank fees and receiving bank fees.  Transfer fees charged by the sender bank can range from $25 to $100 per transaction, intermediary bank fees add another $15 to $50 per bank, and receiving bank fees typically range from $10 to $30–all of which significantly eat into international revenue.

Xflow solution:

Xflow offers all its users a transparent fee structure. This results in more predictable costs and ensures that businesses don’t lose a significant chunk of their revenue to payment processing fees. Additionally, Xflow charges a 0% FX markup on the mid-market rate, ensuring businesses get the most favorable exchange rates without any hidden costs.  

The challenge:

Many businesses face uncertainty about their final receivable amount due to multi-layered fee systems and hidden charges.

As Mumbai-based e-commerce business owner Preeti Shah notes, “Uncertainty of high fees and the complex pricing structure makes me feel underconfident about expanding my business globally.”

Xflow solution:

To help business owners like Preeti, Xflow offers Guaranteed Live FX rates. This helps businesses know the precise INR amount they will receive at the time of withdrawal.

Here’s how it works:

• At initiation, Xflow displays the Live FX rate on the dashboard
• This FX rate is fixed for a three-hour period, assuring that the amount withdrawn during this window will be transferred at the visible FX rate without surprises or hidden costs
• Once the user initiates the withdrawal, the amount is settled into INR at the Guaranteed Live FX rate

In addition, with Xlfow’s soon-to-be-launched feature, businesses can lock in today’s FX rate in advance for up to 45 days–at no additional charge. Based on their requirements, users can choose to lock in the FX rate or the Guaranteed Live FX feature to get the best payment experience. 

By removing the guesswork from what is the final receivable amount, Xflow aids better financial forecasting and cash flow management.

The challenge:

Traditional cross-border payments, particularly SWIFT transfers, take 3-10 business days to process (as indicated by the World Bank*).

Multiple intermediary banks, complex wiring processes, and verification requirements create significant delays that impact business operations.

Xflow solution:

Xflow addresses these challenges, specifically for US-to-India transfers, by leveraging local payment networks like Automated Clearing House (ACH) and FedWire. ACH enables same-day or next-day payments, while FedWire provides real-time gross settlement for instant bank transfers.

To do this, users need to sign up for a free Xflow account. Once the account is active and the user completes the KYC process, they can share their Xflow account details with their US clients to receive timely payments.

“I manage my forex operation, and hence, it was important for me to find a payments partner who could transfer funds into my EEFC account. Xflow has been able to do this while making it easy for my customers to pay using local payment methods,” Dhruv, founder, iCliniq, a Tamil Nadu-based medical platform.

The challenge:

Many international payments services impose transaction limits that force businesses to split large invoices into smaller amounts. This breaking of invoices often creates additional work and introduces confusion, delays, and the risk of human error. Tracking multiple invoices becomes challenging, leading to possible payment discrepancies and wasted time spent on reconciliation.

Xflow solution:

Xflow enables the receipt of more than $10,000 on a single invoice in a compliant way–streamlining the payment process and eliminating unnecessary complexities. This, in turn, reduces manual effort, minimizes errors, and accelerates payment timelines.

The challenge:

International transactions require strict regulatory compliance, particularly in India where businesses need Foreign Inward Remittance Advice (FIRA) certificates. Traditional payment services often leave businesses to handle this documentation independently, creating an administrative burden.

Xflow solution:

With Xflow, businesses get their e-FIRA certificate within 24 hours of withdrawal. As Sunil, founder of Distill Info, says, “With Xflow, we found a convenient, compliant, cost-effective payment provider to bring funds into India under transfer pricing. There is no transaction size limit, and we always get our funds on time, along with a FIRA. Xflow tells us when our funds arrive, and we withdraw as needed.”

Pixelmatic, founder, Sandeep's experience exemplifies Xflow's impact: “Getting started on Xflow was easy–KYC was simple, and I could start transacting in less than 24 hours. Now that we have used Xflow multiple times, I know payments hit our bank account predictably with no surprises. The T+1 settlement works like a charm.”

Key benefits of using Xflow:

• Faster payments through local payment methods
• Know the exact INR amount that will be received
• Automated compliance with one-click e-FIRA
• Transparent 1% fee structure or $8 per transaction

Am I eligible to get an Xflow Receiving Account?

• If you're an independent professional or a business in India exporting goods or services internationally, you should be eligible to apply for a multi-currency account. However, different multi-currency providers may have different eligibility conditions. Read their terms and conditions carefully to understand how they may apply to you.

How to open an account with Xflow?

1. With Xflow, getting started is fairly simple. Here are the five steps:

Step 1: Sign up with Xflow and complete your KYC by submitting the following information: 

1. Business Identifiers like Business PAN/GSTIN/CIN/Partnership Deed
2. Information about the business, along with details of your website and social media account links or marketplace details with Upwork, Toptal, and so on. 
3. Business personnel identification information where you can provide PAN/Passport of business directors/proprietors/partners and representatives
4. Bank account details

Step 2: Once approved, get your unique account number 

Step 3: Share the account number with your clients to receive payments. To simplify the process, you can use Xflow Invoicing to bill your customers. The bank transfer instructions are automatically added to the invoice.

Step 4: Next up, the client initiates the local bank transfer to your account. Once the payment is initiated, you’ll be notified about your incoming funds via email. You can withdraw funds at your convenience – when you initiate withdrawal, the funds will arrive in your INR bank account in 1 day. , you can track the process of your funds transfer until it reaches your Xflow account. With Xflow, this process usually takes 1 business day. 

Step 5: Once the funds arrive in your Xflow account, you can withdraw to your INR bank account anytime. 

How does an Xflow simplify receiving payments?

• Xflow offers transparency in currency conversion by providing FX rates benchmarked to the mid-market or inter-bank rate. Businesses benefit from fair and competitive rates, reducing expenses associated with exchange rates and fees. Additionally, with Xflow businesses can settle payments in 1 business day and easily receive eFIRA within 24 hours for every transaction.

What industries does Xflow support?

• We support any business or industry that is prohibited or deemed high-risk under our policies. Here’s our latest blog on how Xflow is empowering various industries.

Got more questions? Click here to know more.

More articles:

1. Are hidden FX charges hurting your business?
2. Strategies to avoid transfer pricing challenges in international payments
3. Best ways to pay remote workers in India