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SMEs and freelancers, Indian companies know all too well the pain points that come with processing international payments, considering the state of the global economy. Besides the ever-changing forex rates, compliance complications, and hidden charges are enough to make anyone feel like they're navigating a maze.
That's where Skydo steps in. Focused on Indian companies having to deal with the complexities of international transactions, Skydo aims to make cross-border payments easier, quicker, and clearer.
Let's examine what Skydo has in store, how its pricing scheme works, and if it’s the right fit for your company.
TL;DR
Skydo is a Bengaluru-based cross-border payments platform. Skydo was founded in 2022, and it is now serving 30,000+ Indian MSMEs, freelancers, and startups across India.
Skydo received final RBI PA-CB (Payment Aggregator – Cross Border) authorisation on January 9, 2026. This makes Skydo one of the first fintechs in India to do so.
Pricing of Skydo: Flat $19 for payments up to $2,000; flat $29 for $2,001–$10,000; 0.3% for payments above $10,000. Skydo applies zero FX markup on all plans.
Key strengths: Instant free FIRA, zero FX markup, 24–48 hour INR settlement, local payment rails, built-in invoicing, GST-compliant invoicing, and Amazon Global Selling support.
Key weakness: The flat $19 fee makes Skydo expensive for small invoices under $1,000. For example, at a $500 invoice size, you pay an effective 3.8% rate.
Best alternative: Infinity charges a flat 0.5% all-inclusive fee. This makes Infinity a more cost-effective alternative than Skydo, with identical zero FX markup and 24-hour settlement.
What Is Skydo?
Skydo is a Bengaluru-based fintech platform built specifically to help Indian exporters, freelancers, MSMEs, and startups receive international payments in India. Skydo is faster, cheaper, and is built with full regulatory compliance.
Skydo is set out to solve the problem of receiving international payments in India by combining virtual local receiving accounts (so overseas clients can pay like a domestic transfer), transparent flat-fee pricing with zero FX markup, and automated compliance documentation.
The most significant milestone for Skydo in early 2026 was Skydo's f final RBI PA-CB (Payment Aggregator – Cross Border) authorisation on January 9, 2026. This makes it one of the first fintech companies in India to receive this licence. This regulatory stamp validates Skydo's compliance infrastructure and positions it firmly within India's most tightly regulated tier of cross-border payment operators.
Skydo is headquartered in Bengaluru and primarily serves the Indian export ecosystem. It is currently targeting the millions of Indian professionals and businesses that export services, software, IT-enabled services, and goods to clients and buyers worldwide.
Also read - How to avoid cross-border payment fraud?
How Does Skydo Work?
Skydo's payment collection process is designed to eliminate the friction associated with traditional SWIFT international transfers. Here is how it works end-to-end:
Step 1 — Sign Up and Complete KYC.
Step 2 — Receive Virtual Local Receiving Accounts..
Step 3 — Your Client Pays Locally.
Step 4 — Skydo Receives and Converts at Mid-Market Rate. T.
Step 5 — INR Settles to Your Indian Bank Account.
Step 6 — FIRA Issued Instantly.
Skydo Key Features
The following are the key features of Skydo:
Multi-Currency Virtual Receiving Accounts
Skydo provides virtual local bank account details across the US, UK, Canada, Australia, Europe, and 10+ other countries. These accounts support collections in 30+ currencies.
Zero FX Markup
All currency conversions on Skydo are done at the live mid-market exchange rate, with zero markup applied. This is one of Skydo's most important features. While the platform charges a flat fee, it does not charge any additional fees through FX markup.
24 Hour INR Settlement
International payments received through Skydo are settled into your Indian bank account within 24 hours. Skydo helps you track your payment in real-time through its user-friendly dashboard.
Instant Free FIRA
Every transaction on Skydo automatically generates a free FIRA (Foreign Inward Remittance Advice) certificate, delivered instantly to your inbox. FIRAs are also available for download at any time from your Skydo dashboard. This is critical for GST refund claims, income tax filings, and FEMA compliance.
GST-Compliant Invoicing
Skydo includes a built-in invoicing tool that allows you to create professional, GST-compliant invoices directly within the platform. You can generate invoices, share them with international clients, track payment status, and manage your accounts receivable, all in one system.
Amazon Global Selling Support
Skydo has received PSP (Payment Service Provider) approval from Amazon, making it officially supported for withdrawing payments from Amazon Global Selling accounts across the US, UK, Canada, Spain, and 10+ other countries.
Skydo Pricing and Fees
Skydo uses a tiered flat-fee pricing model with zero FX markup. The following table shows the pricing tiers of Skydo:
Pricing Tiers
Invoice Amount | Skydo Fee | Effective % Cost |
Up to $2,000 | $19 flat | Varies (see below) |
$2,001 – $10,000 | $29 flat | Varies (see below) |
Above $10,000 | 0.3% of the amount | 0.3% |
Effective Cost by Invoice Size
The flat-fee structure means the effective percentage cost decreases as invoice size increases. Here is a table for your reference:
Invoice Amount | Fee Paid | Effective % Cost |
$200 | $19 | 9.5% |
$500 | $19 | 3.8% |
$1,000 | $19 | 1.9% |
$2,000 | $19 | 0.95% |
$3,000 | $29 | 0.97% |
$5,000 | $29 | 0.58% |
$10,000 | $29 | 0.29% |
$20,000 | $60 (0.3%) | 0.3% |
$50,000 | $150 (0.3%) | 0.3% |
What About FX Markup?
This is where Skydo genuinely differentiates itself from platforms like PayPal and Payoneer. Skydo applies zero FX markup on all currency conversions. The conversion happens at the live mid-market exchange rate with no spread or hidden margin applied.
To understand why this matters, consider a comparison of a $5,000 invoice:
When compared to PayPal, Skydo saves approximately $340–$390 on a single $5,000 invoice. And when compared to traditional SWIFT banking, Skydo saves approximately $86–$196 per $5,000 invoice.
GST on Skydo Fees
Skydo's pricing page states flat fees for platform use. Since Skydo's parent entity involves a foreign entity providing the service, GST of 18% is applied for Indian businesses. Consult your CA for specific advice on how to account for GST on Skydo fees in your books.
How Skydo Compares to Infinity After GST
Infinity's 0.5% fee is all-inclusive; GST is already absorbed within the 0.5%. There is no separate GST liability for the user. Here is a comparison table on various invoice amounts:
Skydo Pros and Cons
Pros
Final RBI PA-CB Authorisation: Skydo received its final RBI PA-CB licence on January 9, 2026, making it one of the first fintechs in India to do so. This regulatory milestone validates its compliance infrastructure and provides institutional credibility that newer, unlicensed platforms cannot match.
Zero FX Markup: All conversions at live mid-market rates with no spread. This is a significant advantage over traditional banks and platforms like PayPal and Payoneer that apply 2–4% FX markups.
Instant Free FIRA: Automatic FIRA generation on every transaction, delivered to your inbox instantly and available for download anytime. This eliminates the 5–7 day manual bank process and associated fees.
24–48 Hour INR Settlement: Funds reach your Indian bank account within 1–2 business days. It is far faster than traditional SWIFT transfers that take 3–7 business days.
User-Friendly Dashboard: Clean, intuitive interface with real-time payment tracking, invoicing, payment reminders, and accounts receivable tools, all of which are available in one place.
Amazon Global Selling Support: Official PSP approval from Amazon makes Skydo one of the few compliant Indian platforms for withdrawing Amazon Marketplace payments.
Cons
Expensive for Small Invoices: The $19 flat fee is disproportionately high for small invoices. On a $500 payment, the effective cost is 3.8%. It is more than 7x Infinity's 0.5%. Freelancers who invoice frequently in small amounts (under $1,500) pay significantly more with Skydo than with percentage-based alternatives.
Not the Cheapest Across All Invoice Sizes: For invoices under approximately $3,800, Infinity's 0.5% fee is lower than Skydo's $19–$29 flat fee. The crossover point where Skydo becomes cheaper than Infinity on the Starter plan is around $2,000 (where Skydo's $19 matches Infinity's $10).
Limited Accounting Integrations: Skydo is currently integrating with QuickBooks, but it has limited support for other popular Indian accounting platforms.
No Outward Remittance Yet: As of 2026, Skydo is primarily focused on inward remittances (receiving payments). Outward payment capabilities are not yet available.
Marketplace Integration Depth: Skydo's native integrations with freelance marketplaces like Upwork and Fiverr are limited compared to Payoneer's 500+ marketplace connections.
Is Skydo Safe and Legal in India?
Yes, Skydo is both safe and fully legal to use in India in 2026, with strong regulatory backing.
RBI PA-CB Final Authorisation
On January 9, 2026, Skydo received final authorisation from the RBI to operate as a Payment Aggregator Cross Border (PA-CB) entity. With this final approval, Skydo becomes one of the first fintech firms in India to secure authorisation in this category.
Compliance Infrastructure
The platform processes all transactions through deep integrations with RBI-regulated partner banks. This ensures that every inward remittance is correctly documented, purpose-coded, and reported through proper banking channels.
FEMA Compliance
Every transaction on Skydo is processed in compliance with the Foreign Exchange Management Act (FEMA). Purpose codes are automatically assigned, and the instant FIRA is issued automatically with every transaction.
Real Customer Reviews and Public Sentiment
Skydo has built a consistently positive reputation among Indian freelancers and exporters who use it regularly. Here is what users are saying across verified review platforms.
G2 Reviews
On G2, Skydo has received strong ratings from verified Indian business users. One reviewer, Suraj S., says that the platform delivers a hassle-free experience with automatic settlement and the best conversion rates.
Trustpilot Reviews
On Trustpilot, one verified user named Sudheer Velicheti describes the Skydo payment experience as seamless.
Who Should Use Skydo?
Skydo is an excellent fit for specific types of Indian professionals and businesses. Here is a clear profile of who can benefit from Skydo the most.
IT service exporters and software companies receiving large, irregular B2B invoices from international clients can use Skydo for receiving international payments.
Indian MSMEs and small exporters are receiving periodic payments from overseas buyers who want a simple, compliant, low-cost alternative to traditional bank SWIFT transfers.
Amazon Global Selling merchants who want a platform with official Amazon PSP approval for withdrawing marketplace payouts in USD, GBP, CAD, AUD, and other currencies directly to their Indian bank accounts.
Professionals prioritising compliance automation — those who want instant FIRA delivery, automated invoicing, and full RBI/FEMA compliance without managing any of it manually.
Who Should Avoid Skydo?
Despite its genuine strengths, Skydo is not the right fit for everyone. Here is who should look elsewhere.
Freelancers invoicing small amounts frequently — if your typical invoice is under $1,000 and you invoice multiple times per month, the $19 flat fee per transaction becomes disproportionately expensive. For example, a $500 invoice, you are paying 3.8% — significantly higher than Infinity's 0.5%.
Businesses needing marketplace payout integration — if your primary income flows through Upwork, Fiverr, or other freelancing platforms as automatic payouts, Payoneer's 500+ native marketplace integrations cannot be matched by Skydo's current integration depth.
SaaS companies needing developer APIs and custom checkout — Skydo's primary use case is payment collection via bank transfer and invoicing. Businesses that need powerful payment gateway APIs, subscription billing infrastructure, or custom checkout flows will find Stripe or Razorpay more capable.
Businesses needing to hold foreign currency — Skydo converts to INR and settles to your Indian bank account. If you need to hold USD or EUR balances to manage FX exposure or make outward payments in foreign currency, Wise Business or a multi-currency wallet solution is more appropriate.
High-volume enterprise businesses with complex needs — businesses processing millions of dollars monthly with needs for treasury management, intercompany transfers, white-label APIs, or sophisticated FX risk management may outgrow Skydo's current product capabilities.
Infinity: Best Alternatives to Skydo
When evaluating cross-border payment platforms for receiving international payments in India, one alternative stands out clearly for Indian freelancers, exporters, and SaaS founders- Infinity.
Infinity is a Bengaluru-based, Y Combinator (YC)-backed fintech platform built from the ground up for Indian inward remittances. Infinity processes all transactions through AD-1 certified, RBI-authorised banks, ensuring full FEMA compliance on every transaction.
What makes Infinity different:
0.5% flat all-inclusive fee — covers platform charge, GST, FIRA generation, FX conversion, and INR settlement. One number. No tiers. No ambiguity.
Zero FX markup — live mid-market rates on every conversion, identical to Skydo
24-hour INR settlement — funds in your bank within one business day
Free auto-generated FIRA — issued by an RBI-authorised bank with every transaction
50+ currencies — USD, GBP, EUR, AUD, CAD, SGD, and more
Built-in invoicing and payment links
Where Infinity truly stands out is in the simplicity and predictability of its pricing. Unlike Skydo's tiered flat-fee model, where you need to check which bracket your invoice falls into before every transaction, Infinity's 0.5% is the same regardless of whether your invoice is $300 or $30,000.
There are no tiers to navigate, no minimum fees to worry about, and no unpleasant surprises on small payments. For a freelancer or agency owner sending multiple invoices of varying sizes throughout the month, this consistency is genuinely valuable.
Skydo vs Infinity
Both Skydo and Infinity are India-first platforms with zero FX markup, automatic free FIRA, fast INR settlement, and full RBI/FEMA compliance. On those dimensions, they are evenly matched. The meaningful difference is in how they charge — and how predictable that cost is.
Fee Model Comparison
Invoice Amount | Skydo Fee | Infinity Fee (0.5%) |
$200 | $19 (9.5%) | $1 (0.5%) |
$500 | $19 (3.8%) | $2.50 (0.5%) |
$1,000 | $19 (1.9%) | $5 (0.5%) |
$2,000 | $19 (0.95%) | $10 (0.5%) |
$3,000 | $29 (0.97%) | $15 (0.5%) |
$5,000 | $29 (0.58%) | $25 (0.5%) |
Annual Savings Illustration
Suppose a freelance consultant in Hyderabad invoices a mix of amounts each month — some smaller project invoices, some larger retainers. Over 12 months:
Scenario | Skydo Annual Cost | Infinity Annual Cost | Infinity Saves |
12 × $1,000 invoices | $228 (12 × $19) | $60 (0.5%) | $168/year |
12 × $2,000 invoices | $228 (12 × $19) | $120 (0.5%) | $108/year |
12 × $500 invoices | $228 (12 × $19) | $30 (0.5%) | $198/year |
Feature Comparison
Parameter | Skydo | Infinity |
Fee Model | Flat $19/$29/0.3% (tiered) | 0.5% flat (consistent) |
FX Markup | Zero | Zero |
Settlement Time | 24–48 hours | 24 hours |
FIRA | Free, instant, auto | Free, instant, auto |
RBI Compliance | Final PA-CB licence | AD-1 bank infrastructure |
Built-in Invoicing | Yes | Yes |
YC-Backed | No | Yes |
Fee Predictability | Tier-dependent | Always 0.5% |
GST | Additional 18% | All inclusive |
Summary: Both are credible, India-first platforms with strong compliance credentials. Infinity's single percentage fee makes it simpler, more predictable, and more cost-effective for professionals with variable or smaller invoice sizes, while also offering treasury management and YC-backed credibility that Skydo currently lacks.
FAQs
Q1. What is Skydo, and is it available for Indian businesses?
Skydo is a Bengaluru-based cross-border payments platform founded in 2022. It is designed specifically for Indian exporters, freelancers, MSMEs, and startups. It is fully available to Indian businesses.
Q2. What are Skydo's exact fees in 2026?
Skydo charges a flat $19 for payments up to $2,000, a flat $29 for payments between $2,001 and $10,000, and 0.3% for payments above $10,000. There is no FX markup on any plan — currency conversion happens at the live mid-market rate.
Q3. Does Skydo charge any FX markup?
No. Skydo applies zero FX markup on all currency conversions. The conversion rate used is the live mid-market exchange rate — the same rate you would see on Google at the time of conversion.
Q4. Is Skydo safe and RBI-approved?
Yes. Skydo received final RBI PA-CB (Payment Aggregator – Cross Border) authorisation on January 9, 2026. This is the highest available regulatory endorsement for a cross-border payment platform in India.
Q5. Does Skydo provide FIRA automatically?
Yes. Skydo automatically generates a free FIRA (Foreign Inward Remittance Advice) for every transaction, delivered instantly to your inbox.
Q6. What is the best alternative to Skydo?
Infinity is the most cost-effective alternative to Skydo. Infinity charges a flat 0.5% all-inclusive fee with zero FX markup — significantly cheaper than Skydo's $19 flat fee on smaller amounts.
Q7. Can I use Skydo for Amazon Global Selling payouts?
Yes. Skydo has received official PSP (Payment Service Provider) approval from Amazon, making it a supported platform for withdrawing Amazon Global Selling payments across the US, UK, Canada, Spain, and 10+ other countries.
