Skydo vs Payoneer (2025): Best Choice for International Payments in India

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Skydo vs Payoneer: Understanding the differences  

Skydo and Payoneer are leading platforms for accepting international payments in India. If you’re not sure what they are, here’s a snappy overview of each.

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What is Payoneer? 

Payoneer has a presence in 190+ countries and supports 70+ currencies. You can create virtual accounts to receive payments in USD, EUR, GBP and more, like a local. In addition to virtual accounts, it allows you to receive payments via multiple other methods, such as card or ACH debit, and PayPal

Payoneer’s fee structure depends on the payment method. For a virtual account, it is generally free or may incur a 1% charge or a fixed fee, depending on the amount and currency.  For ACH (US only), the fee is  1%, and for a card, it is 3.2% + $0.49. It also charges a currency conversion markup of 3% on the mid-market exchange rate when you withdraw the amount in INR.

For Indian users, Payoneer automatically provides government-mandated digital Foreign Inward Remittance Advice (FIRA), FIRS, or NOC document for every international payment received. You can download the FIRA within 24–72 hours of receiving the payment. 

Payoneer integrates with over 2,000+ global marketplaces and platforms, including Amazon, Fiverr, Airbnb, eBay, and Upwork. If you work on one or multiple such platforms, you can track payments in a single dashboard. 

What is Skydo?

Skydo is a home-grown virtual payment platform built for Indian exporters, freelancers, and businesses. You get virtual accounts in multiple currencies, such as USD, EUR, GBP, CAD, and AUD, to receive international payments like a local transfer and bypass SWIFT charges 

Skydo offers live, mid-market FX rates without any forex markup. The fee structure is also flat and simple. You pay $19 for payments ≤ $2,000, $29 for $2,001–$10,000, and 0.3% above $10,000. With InstaLinks, you can use a single link to request payment in credit/debit card (Visa/Mastercard) for a 5% fee, or ACH transfers for 2% fee.

Skydo automatically generates a free, instant FIRA after you receive an international payment. Similarly,  Amazon Global sellers get an automated eBRC to ease compliance. 

Skydo provides India-based support via WhatsApp, email, and phone to resolve your queries. It received RBI’s Payment Aggregator–Cross Border (PA-CB) in-principle approval (Jan 2025),  which means it meets all the requirements set by RBI to operate as a payment aggregator for international transactions.

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Skydo vs Payoneer: A quick comparison

Receiving USD 10,000 in India with Skydo vs Payoneer 

If you receive a $10,000 payment from an international client, how much money will you receive in hand via different payment methods on Payoneer vs Skydo? We find that out in this section

Exchange rate used: 1 USD = ₹87 

Scenario A — Client Pays via Virtual Transfer

You save ₹26,100 with Skydo

Scenario B — Client Pays via Credit Card

You save ₹9,646 with Skydo

Summary

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Receive from 150+ countries

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Who Should Choose What?

1. Freelancers & Agencies:  Skydo is better for regular invoices: lower fees than Payoneer, live mid-market FX. For US clients, Skydo's InstaLinks also supports ACH and card payments. Every payment comes with instant FIRA and India-based support

2. Amazon & Marketplace Sellers:  Payoneer excels with broad marketplace integrations (Amazon, eBay, Etsy, 2,000+ platforms). But if you sell primarily on Amazon Global Selling, Skydo’s automated eBRC plus its RBI-approved PSP status makes compliance easier.

3. High-Value Invoices (e.g., SaaS, licensing) For large invoices, Skydo’s flat-tier fees + no FX markup deliver more. Example: On a $100,000 invoice, Skydo costs ~0.3% vs Payoneer’s ~3% markup—a difference of over ₹2.3 lakh saved.

4. Mixed Payment Methods (Card + Bank): Skydo’s InstaLinks handle U.S. ACH (2%) and card payments (5%). Payoneer covers global cards (3.2% + $0.49) and U.S. ACH (1%), along with 3% currency conversion fee.  Verdict: U.S. clients → Skydo; non-U.S. clients needing cards → Payoneer.

Deep dives

Let’s put it all together. Here’s a summary of what we have covered so far about Skydo and Payoneer based on different parameters: 

Pricing and FX

Skydo

Skydo offers transparent pricing with a simple flat fee structure: $19 for payments up to $2,000, $29 for payments up to $10,000, and 0.3% for amounts beyond that. For Instalink, the fees are 5% for card and 2% for ACH. There is no forex markup; you receive funds using the live mid-market FX rate 

Payoneer

Payoneer’s fees vary based on payment method. It is 1% for ACH transactions and 3.2% + $0.49 for card payments. However, it applies an additional 3% forex markup on currency conversion when you withdraw funds to INR.

Compliance: FIRA & eBRC

Skydo

Skydo provides instant, free FIRAs for every inbound payment and automatically generates electronic BRCs (eBRC) for Amazon Global sellers. You also have access to an India-based support team to resolve your  regulatory queries or compliance issues 

Payoneer

Payoneer also issues digital FIRAs at no extra cost, but does not offer automated eBRCs. Payoneer has a global support network that covers a broad geographical area. However, the support may not be as India-focused,  leading to slower issue resolution for India-specific compliance questions.

Card/ACH & Payment Experience

Skydo

Skydo’s InstaLinks sends secure payment links to accept U.S. Visa/Mastercard and ACH payments. The fee for cards is 5% and for ACH is 2%, but you can choose to absorb, share or transfer the transaction fees based on your relationship with your client.  This feature is only applicable for US-based clients.

Payoneer

Payoneer’s Payment Requests support card and ACH payments across a broader geography. You have more flexibility to accept payments from clients worldwide. 

Settlement Speed

Skydo

Skydo settles your payments into your INR bank account within 24 to 48 hours. For ACH and Debit or Credit Card payments, it takes 6 business days to settle the payment.

Payoneer

Payoneer’s settlement times vary widely depending on payment method and receiving bank. ACH takes 2 to 3 business days, and card payments take around 1 to 3 days.

Marketplaces & Tools

Skydo

Skydo is a Payment Service Provider (PSP) for Amazon Global Selling. This means you receive international payments securely, at a lower cost, live exchange rate, and automatically obtain FIRA for free. Skydo also offers built-in invoicing and payment tracking to track the real-time movement of money from withdrawal request to final deposit into your Indian bank account.

Payoneer

Payoneer boasts integration with over 2,000 marketplaces worldwide, including Amazon, eBay, Fiverr, and Upwork. Its store management tools provide a consolidated view of marketplace payments in one place. It also matches each invoice automatically, generates tailored earnings reports, and offers API integration to connect your accounting software.

How to Switch: Move Your Next Invoice to Skydo

Note: You may prefer to keep Payoneer for marketplace payments, as it offers more options, while routing direct client invoices through Skydo to optimize costs and FX benefits.

Conclusion 

You now have a clear understanding of how Skydo and Payoneer stack up across pricing, FX, compliance, and payment experience for your specific needs. If you’re a freelancer or agency billing U.S. clients, a marketplace seller, or handling high-value invoices, Skydo’s transparent fees, live FX, and instant compliance docs give you the edge. 

Ready to take control of your international payments? Create your first InstaLink or set up your global virtual accounts with Skydo today.