Global payments

The Best Alternatives to Stripe for Global Payments in India

The Best Alternatives to Stripe for Global Payments in India

Posted on Jan 24, 2025

The Best Alternatives to Stripe for Global Payments in India
The Best Alternatives to Stripe for Global Payments in India

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The Best Alternatives to Stripe for Global Payments in India

Stripe may be the go-to answer for your business in terms of what kind of payment platform you should settle for. It is, however strictly limited for Indian businesses with extremely high fees and no UPI support, and severely restricted local bank payouts. This makes one left frustrated and begging the question, "Is there anything better?

The good news is, there are platforms that cater to Indian businesses more effectively, and Infinity stands out as a top choice. In this blog, we’ll explore the best Stripe alternatives, their features, and why Infinity is the smart solution for your payment needs.

Why Look for Stripe Alternatives in India?

1. High Transaction and Conversion Fees

Stripe’s fees for international payments can eat away at your revenue:

  • Transaction Fees: Stripe charges a percentage per transaction, significantly reducing your earnings.

  • Currency Conversion Fees: Adds another layer of costs, which eats into your profits.

2. Limited Local Payment Support

Stripe does not support:

  • UPI payments (a must for Indian businesses).

  • Local bank payouts, making operations cumbersome.

3. Not Optimised for Small Businesses

  • Tools and pricing are designed for large enterprises, making it overwhelming and expensive for small businesses.

  • No flexibility to accommodate special requirements, making small business owners frustrated.

Top 5 Stripe Alternatives for Indian Businesses

1. Payoneer

Description: Suitable for freelancers and small businesses, provides virtual bank accounts.

Features:

  • 150+ currencies supported.

  • Withdrawals from local banks are seamless.

  • Invoicing tools facilitate easy payments.

Fees: 1-3% transaction fees with no hidden charges.

Best For: Freelancers and e-commerce sellers operating internationally.

2. Wise (TransferWise)

Description: Offers transparent pricing and real exchange rates.

Features:

  • Multi-currency accounts for easy management of international payments.

  • Quicker international transactions.

Fees: Depending on the currency and the amount, fees are always clear.

Best For: Small businesses with international clients.

3. Razorpay

Overview: A payment gateway designed specifically for Indian businesses.

Features:

  • It supports local payment methods, including UPI, RuPay, and net banking.

  • Subscription billing and marketplace payment options.

Fees:

  • 2% for domestic payments.

  • 3% for international payments.

Best For: Indian businesses targeting the domestic and international markets.

4. Infinity

Overview: Specifically designed to overcome the pain points of Indian businesses, with transparent pricing and innovative features.

Features:

  • Flat fees and no forex margin.

  • Multi-currency accounts to avoid forced conversions.

  • Instant FIRA generation to simplify compliance.

Best For: Startups, SMBs, and export-oriented businesses.

Fees: Less than 1% transaction fees with no hidden charges.

5. PayPal

Overview: A globally known payment platform with a presence in India.

Features:

  • Invoicing tools and e-commerce integration.

  • Buyer protection for added security.

Fees:

  • 4.4% per transaction, plus fixed and conversion fees.

Best For: Small businesses with occasional international payments.


Factors to Consider When Choosing a Stripe Alternative

1. Transaction Fees and Pricing Transparency

  • Look for platforms that have competitive and transparent pricing to avoid surprises.

  • For instance, Infinity offers flat fees with no forex margin.

2. Local Payment Support

  • Ensure that the platform supports methods like UPI, RuPay, or direct local bank withdrawals for seamless operations.

3. Features and Scalability

  • Choose platforms that grow with your business, offering features such as subscription billing, multi-currency accounts, easy developer integration.

Why Infinity is the Ultimate Stripe Alternative for Indian Businesses?

Infinity is the India alternative to Stripe Payments in India, offering unmatched benefits tailored to the needs of Indian businesses. Infinity provides-

Low Transaction Fees: Enjoy less than 1% transaction fees with no hidden charges, ensuring cost-effective payment processing.

Flexible Withdrawals: Withdraw funds at any time using live FX rates, offering transparency and convenience.

Instant FIRA: Get immediate Foreign Inward Remittance Advice (FIRA) for hassle-free compliance with international payment regulations.

Fastest Transaction Speed: Experience settlements within 1-2 days, ensuring quick access to your funds.

Whether you're an entrepreneur, freelancer, or SaaS company, Infinity is the perfect solution for simplifying cross-border payments and driving business growth.

Final Thoughts

While Stripe has a great global presence, its high fees, limited local support, and complex tools make it less ideal for Indian businesses. Fortunately, platforms like Infinity offer tailored solutions that empower businesses to grow without unnecessary hassles.

Why settle for less? Switch to Infinity today and experience the difference.

Ready to take control of your payments?

Sign up for Infinity now and save time and money while streamlining your global transactions!

An All in one Banking Platform for SMBs and Startups

© 2024 Scalifi Wealth Pvt Ltd.

AMFI

ARN

274654

+91 95354 82864

support@infinityapp.in

Disclaimer: Mutual fund investments are subject to market risks. Please read all scheme related documents carefully before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund, or designing a portfolio that suits your needs.

An All in one Banking Platform for SMBs and Startups

© 2024 Scalifi Wealth Pvt Ltd.

AMFI

ARN

274654

+91 95354 82864

support@infinityapp.in

Disclaimer: Mutual fund investments are subject to market risks. Please read all scheme related documents carefully before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund, or designing a portfolio that suits your needs.