5 Best Payoneer Alternatives in 2025 for International Payments in India
Why Consider Alternatives to Payoneer?
Payoneer is a widely used global payment platform that has helped countless freelancers and businesses manage cross-border payments with ease. Its extensive international reach, ability to receive payments from major marketplaces, and multi-currency support make it a convenient option for many.
However, for some Indian users, particularly those focused on cost-efficiency and faster local settlements, there are considerations to weigh. Payoneer’s fee structure can be both complicated and steep. For example, it charges
- Up to 3.2% on credit card payments,
- 3% fees for INR withdrawals
- and a $29.95 annual inactivity fee,
All of these can add up, depending on usage
As a result, businesses and freelancers in India are increasingly exploring alternative platforms that offer localised support, faster settlements, and pricing structures more tailored to their needs. In the sections below, we explore some of the leading Payoneer alternatives, such as Skydo, Wise, PayPal, and others, highlighting how they compare in terms of features, costs, and compliance support.
Skydo: India-Based Payoneer Alternative
Skydo is an India-based international payments app designed for exporters and freelancers. It offers local virtual accounts in countries like the US, UK, Canada, and Australia, so overseas clients can pay to a “local” account without using SWIFT
- Transparent pricing: Simple flat fees, $19 per transfer up to $2,000, $29 for $2,000–$10,000, and 0.3% for amounts above $10,000, with no hidden forex markup.
- Quick settlements: Funds in USD/EUR are converted at real-time rates and settle into your Indian account in 1–2 business days.
- Instant FIRA generation: Skydo auto-creates the required Foreign Inward Remittance Advice (FIRA) for every payment, simplifying GST refunds and compliance.
- GST-Compliant invoicing: Integrated invoicing lets you bill clients and collect payments seamlessly.
- India-based support: Local customer support is available to help with queries.
Pros:
- Market-rate FX (no markups) means you get the full value for your money
- Support for major currencies
- Immediate FIRA generation
All of these are huge advantages for exporters.
Cons:
- Currently, Skydo only supports receiving money into INR (no outbound transfers abroad)
- Its flat fees could be relatively high for very small transactions (below ~$200).
Skydo’s India-centric approach (auto FIRA, fast INR credit) often makes it a better alternative to Payoneer for local businesses
Wise Business: Global Payoneer Alternative with Mid-Market Rates
Wise (formerly TransferWise) is well-known for low-cost transfers. Its business account features include:
- Mid-market exchange rates: Always uses the real mid-market rate with no hidden markups.
- Multi-currency accounts: Hold and convert funds in 40+ currencies; get local bank details in USD, EUR, GBP, etc.
- Batch payments: Pay up to 1,000 invoices at once, saving time for businesses with many suppliers.
- Integrations: Connect with tools like Xero/QuickBooks; mobile app for payment tracking.
Pros:
- Transparent, affordable pricing
- Very popular with freelancers for its ease of use and reliable transfers.
Cons:
- Not India-native (customer support may not be India-specific).
- Charges additional fees for services like FIRA document preparations
- You can only receive upto USD 10,000/invoice with Wise
Wise’s clarity on fees and speed has made it a top Payoneer alternative globally
PayPal: Globally Accepted but Costly Payoneer Alternative
PayPal is a household name for international payments. For Indian merchants, note:
- Global acceptance: Many clients (especially in the US/EU) already use PayPal, and it offers robust buyer/seller protection.
- Multi-currency: Supports 25+ currencies.
- Built-in invoicing: Free PayPal invoices with payment buttons.
Pros:
- Trusted worldwide,
- Instant PayPal-to-PayPal transfers.
- Automatic monthly FIRA generation for Indian accounts at no extra cost.
Cons:
- High fees for India: ~4.4% transaction fee plus a fixed fee, and ~4% currency conversion
- Many advanced features (like recurring billing) are not available to Indian accounts.
In summary, PayPal is easy to use but a pricier alternative to PayPal for Indian transfers. It remains an alternative if your buyers insist, but smaller businesses often find specialised services like Skydo cheaper.
PingPong: E-commerce Friendly Payoneer Alternative
PingPong is popular with Indian e-commerce sellers (e.g. Amazon, eBay vendors). Its features include:
- Free FIRA & GST support: Automatically issues FIRA and handles tax requirements for exports.
- Marketplace integration: Seamlessly connects to major marketplaces, auto-collecting payouts from Amazon, eBay, etc.
- Competitive FX: Multi-currency accounts with good exchange rates.
Pros:
- Tailored to e-commerce, think of it as a Payoneer alternative for marketplace sellers.
- Free FIRA for each transaction is a bonus.
Cons:
They charge ~1% of each payout (which can add up on large sales). Some users report less clarity on exact currency conversion than mid-market.
For merchants selling products abroad, PingPong simplifies operations and stands as a viable Payoneer alternative, but freelancers or service exporters may prefer other tools.
Stripe: Developer-Friendly Payoneer Alternative (Invite-Only in India)
Stripe is a powerful payments platform for businesses, especially those that need custom integrations. Key points:
- Extensive API & tools: Everything from hosting payment forms to advanced fraud detection. Great for web/mobile apps.
- Multiple payments: Accept credit cards, digital wallets, and bank debits globally.
- Advanced features: Recurring billing, invoicing, and detailed analytics.
Pros:
- Unmatched flexibility and global reach.
- Many large companies use Stripe for scale.
Cons:
- Currently invite-only for Indian businesses, so it may not be accessible
- Even when available, fees are ~4.3% per transaction plus 2% currency conversion, which is higher than most on this list.
Stripe is a good Payoneer alternative if you need deep customisation and can get access in India. Otherwise, more India-friendly options (Skydo, Infinity, etc.) are likely better.
Other India Based India-Based Payoneer Alternatives
For Indian freelancers, SaaS exporters, and small businesses, local alternatives to Payoneer are gaining traction, especially those built with Indian regulations, bank systems, and business needs in mind. Two platforms leading this shift are Karbon and Infinity.
Karbon
Karbon is a fintech platform designed for Indian exporters looking for a fast and seamless way to collect international payments. It’s especially helpful for businesses that want to avoid delays and manage cross-border payments without getting into operational complexity.
Key features:
- Virtual accounts in major currencies (USD, EUR, GBP).
- 24–48 hour settlement into Indian bank accounts.
- Live mid-market exchange rates with 0% forex markup
- Automated invoicing and payment collection tools
Why consider it: Karbon’s simple interface makes it a strong Payoneer alternative for Indian agencies and SaaS companies working with international clients.
Infinity
Infinity positions itself as a lightweight, cost-effective alternative to Payoneer for Indian freelancers and small businesses. It focuses on helping users get more out of every dollar by reducing fees and simplifying cash flow.
- Flat 0.5% fee on incoming international payments
- No inactivity fee, unlike Payoneer’s $29.95 annual charge
- Fast INR payouts (typically within 1 business day)
- Easy-to-use dashboard with invoice tracking
- Local customer support for Indian users
Why consider it: Infinity is a great option for freelancers or smaller exporters who want to avoid high forex fees and prefer a transparent, no-frills platform.
Receiving International Payments with Payoneer Vs. Skydo: A Quick Comparison
Let’s say you’re receiving a $10,000 international payment:
- Skydo charges a flat $29 with no forex markup, and your INR reaches your bank within 1–2 business days.
- Payoneer, depending on payment method and withdrawal route, may deduct up to 6% in fees.
That’s a meaningful difference in both speed and net amount received, especially if you're collecting multiple payments every month.
While Payoneer continues to be a reliable option with global acceptance, platforms like Skydo are now offering India-focused solutions that prioritise savings, compliance ease, and fast settlements.
Bottom line: If you receive international payments and want to maximise what lands in your Indian bank account, Skydo is built for that. With zero markup, fast payouts, and built-in compliance, it’s a smarter way to manage your global receivables.
Which is better than Payoneer?
Payoneer is a stalwart when it comes to enabling international payments. However, in terms of cost and customer support, Skydo can be a better alternative to receiving international payments in India
How trustworthy is Payoneer?
Is Payoneer better than Stripe?
What is the best Payoneer alternative for freelancers?
. What factors should I consider when choosing a Payoneer alternative?
