Global payments
Posted on Jan 23, 2025
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Compare Infinity vs PayPal
Why are PayPal alternatives needed in India?
For years, PayPal has been one of the easiest ways for Indian freelancers, exporters, SMEs, and other businesses to receive international payments. It offered global acceptance, easy invoicing, and a smooth client experience. However, when it comes to PayPal in India, there are some major limitations:
High fees: PayPal charges a high amount of 4.4% as transaction fees, along with a 3-4% currency conversion markup. This means Indian businesses often end up losing 7-8% of revenue just to PayPal fees.
Compliance restrictions: Getting FIRA after every transaction can be a hectic process.
Limited advanced product capabilities for Indian businesses compared to other global merchants.
While the global business from India is growing rapidly, businesses need alternatives that are cheaper, faster, and compliant.
What makes other platforms a good PayPal alternative?
When evaluating other payment platforms in India, there are a few factors that you should consider:
Fees & FX Markup — What is the transaction fee? Is there a hidden forex spread?
Settlement Time to INR Bank Account — How fast does money hit your account?
FIRA & Compliance Support — Is FIRA generated automatically per transfer?
Limits & Use-Case Fit — Are invoice maximums, entity types, or payment types restricted?
Ease of Use & Integrations — Can you create payment links? Support APIs? Work with marketplaces?
We use these factors to deeply compare each alternative below.
Infinity- India-centric payment platform for receiving international payments
Fee Structure & Practical Facts
Fee: ~0.5% flat incoming international payment fee.
FX Markup: No hidden FX markups (uses live market rates).
FIRA: Automatically generated per transaction – essential for compliance and GST refund claims.
• Settlement: Typically credits in 24 hours to Indian bank accounts.
Deep analysis
Infinity is built with Indian businesses in mind, not as a global wallet, but as a practical tool for real use cases. Its pricing is simple: a 0.5% fee covers everything (no FX spread), meaning that for every $1,000 received, you keep significantly more INR than with PayPal or many global competitors.
Unlike PayPal or other global remittance tools, Infinity automatically generates FIRA for every successful transaction. This reduces the administrative burden, especially for exporters seeking GST refund support.
Infinity’s interface also focuses on usability, easy payment links for clients, a user-friendly dashboard, and options for a multi-currency account without any complexity.
For many freelancers and exporters who care about keeping more revenue with fewer hidden charges, Infinity is a low-fee, transparent FX, and compliance support makes it one of the most cost-effective alternatives in India.
Pro Tip: If you’re receiving more than $2,000–$3,000/month internationally, switching from PayPal to a low-fee alternative can save you ₹1–3 lakhs annually in fees.
Payoneer- Global account with multi-currency account
Fee structure and other fees of Payoneer in India-
Card Payment: 3.2% fee on incoming international payments.
ACH Debit: 1% fee.
FX Markup: Up to 3% on mid-market rate.
Annual Maintenance fee: $29.95 if you receive less than $2000/year.
FIRA: Included digitally.
Deep Analysis
Payoneer remains a popular choice among Indian freelancers, exporters, and other professionals due to its integration with popular marketplaces. Upwork, Fiverr, Amazon, and Airbnb are a few popular marketplaces where Payoneer is integrated.
Payoneer offers local receiving accounts in major currencies (USD, EUR, GBP), which means clients pay like they’re doing a local bank transfer, avoiding painful SWIFT fees.
However, there are a few drawbacks as well. Like the complexity in the fee. Depending on the payment method (card, ACH, internal transfer), fees vary, and the FX markup can be as high as 3%. This can eat into the revenue of professionals when compared to alternatives like Infinity that use real mid-market rates.
Also, there is an annual maintenance charge that can add up as an extra charge for the users. If the user doesn’t hit $2000 in receipts yearly, Payoneer charges nearly $30 just to keep the account.
Wise Business- Transparent FX, Clear fees
Fee structure and other fees of Wise in India-
FX Fees: Typically 1.6%-1.8% (no hidden charges).
FIRA: Charged $2.5 per transaction for Indian users.
Invoice Limit: Up to $10,000 per invoice for Indian users.
Entity Support: Currently supports sole proprietors/freelancers in India.
Deep Analysis
Wise is popularly known for its mid-market exchange rates with zero FX markup. This often makes Wise one of the cheapest options just for FX conversions. Instead of padding the exchange rates, Wise shows mid-market rates, actually, and then transparent fees that include FIRC and GST charges, so you know what you are paying for.
However, Wise has practical limitations for Indian users:
An invoice cap of $10,000 means higher-value projects may need to be split or use alternative platforms.
FIRA documentation isn’t free, which matters for exporters looking to file GST refunds.
Corporate entities (PLCs/LLPs) currently aren’t supported; only sole proprietors/freelancers can use it.
Thus, Wise is excellent for cost-conscious freelancers and small businesses who primarily need clean FX and don’t require complex compliance or bigger invoice handling.
Stripe India - Feature-Rich Global Stack
Fee structure and other fees about Stripe India-
Transaction fee for international cards: 4.3% per transaction.
Currency conversion fee: 2% on top.
FIRA: generally not provided in India.
Availability: Stripe in India operates on an invite or approval model.
Deep Analysis
Stripe is often considered the go-to place for Saas founders and tech companies in India. This is because of its developers APIs, subscription billing, marketplace payouts, and customisable checkouts. However, in India, signing up on Stripe is not as simple as anywhere else. Stripe's cross-border payment system and onboarding are still invite-only in India, and many businesses still can't sign up directly without going through Stripe approval.
The fee structure for international payments is also a costly affair. Stripe charges a fee of 4.3%+2% conversion charges; this means it is not always cheaper than PayPal. Additionally, Stripe does not generate FIRA after every transaction. So, this could be a major drawback for Indian businesses if they need documentation for GST refunds or other incentives.
Stripe actually excels in product flexibility and scalability, so if your business is Saas or tech-first with in-app checkout and recurring billing, Stripe is an unmatched payment platform.
PingPong- Great for E-Commerce and Marketplace Sellers
Fee structure and practice facts about PingPong in India-
Fee: Around 1% of the total amount received.
FIRA: Free digital FIRA included.
FX Transparency: FX rate charged by PingPong is not publicly disclosed (it could include hidden markup).
Deep Analysis
PingPong is a strong pick for Indian e-commerce sellers on global marketplaces such as Amazon, Walmart, and others. PingPong in India is built with features like VAT/GST support and automated compliance documentation. This is particularly valuable if you sell in regions with complex tax regimes like the EU or UK.
For Indian exporters who need compliance documents like FIRA and marketplace payouts, PingPong’s 1% fee plus free FIRA makes it an attractive PayPal alternative in India.
The main tradeoff is that exchange rate transparency isn’t always clear, so the effective FX you get may vary from platforms that publish mid-market rates upfront.
Regulatory and Compliance Process in International Payments
When you receive international payments in India, the platform you choose really matters. Not just for fees, but also for compliance with RBI and FEMA rules.
Many businesses look only at pricing in the beginning. That’s understandable. But compliance issues usually show up later, like during audits or while filing GST refunds, or when banks ask for transaction proof.
One document that often comes up is FIRA — Foreign Inward Remittance Advice. This document proves that the money you received is foreign income. And yes, it’s more important than most people realise.
You’ll usually need FIRA for GST refund claims on exports. Banks may ask for it during audits. And it’s also required for income tax records in many cases.
The problem is that not every PayPal alternative handles FIRA the same way. Some platforms generate it automatically, some charge extra for it, and a few don’t provide it at all.
India-focused platforms like Infinity and PingPong issue digital FIRA for free. Wise charges per transaction for FIRA and Stripe currently do not support FIRA for Indian entities.
Purpose codes are another compliance detail people often miss.
But RBI takes them seriously. That is why every foreign payment must be tagged with the correct purpose code.
For example, P0802 is used for software exports.
P1007 is used for business services.
If the purpose code is wrong or missing, payments can get delayed. In some cases, they may even be flagged. So platforms like Infinity that automatically capture or assign purpose codes reduce this risk.
For Indian freelancers and exporters, this makes a big difference.
A platform that simplifies FIRA, purpose codes, and RBI compliance saves time. And it helps avoid regulatory issues later.
So, which PayPal alternative should you choose?
There’s no single answer that fits everyone, but there is a rule of thumb that helps.
If you’re an Indian freelancer or service exporter or an agency owner and want low fees with compliance built in with fast settlement, then Infinity is a strong option.
Infinity offers-
A simple and transparent pricing of around 0.5%.
There’s no FX markup. This means conversion at live FX rates.
And FIRA is included for free.
If you sell on global marketplaces and deal with multiple currencies, Payoneer works well.
Payoneer supports-
Multi-currency accounts that help you receive payments in multiple currencies across the globe. Payoneer integrates with major platforms.
If you care most about transparent exchange rates and smaller payment sizes, Wise Business and Infinity are worth considering.
Wise and Infinity offers-
Mid-market rates.
Wise fees are clearly shown upfront, and every fee is transparent.
If you’re a SaaS business that needs custom payment flows, Stripe is powerful.
Stripe offers-
Its APIs and subscription tools are industry-leading.
Availability for Indian entities may vary.
Conclusion: Still Using PayPal? Switch to Infinity today!
You might be paying more than you think. For many Indian freelancers and exporters, PayPal’s fees add up quietly.
FX markups reduce margins over time, and settlements aren’t always the fastest.
Platforms like Infinity are built specifically for Indian businesses.
Infinity offers a multi-currency account with lower and transparent fees at live exchange rates, 0% FX markup, and 24-hour settlements. Along with that, Infinity also offers automated compliance support by providing automated and free-of-cost FIRA.
Switch to a smarter PayPal alternative and keep more of what you earn.
[Get started with Infinity]
Quick FAQs around PayPal alternative in India (2025)
Does PayPal work in India in 2025?
Yes, PayPal works in India only for receiving international payments; domestic INR transfers are not supported.
Can Indians receive international payments on PayPal?
Yes, Indian users can receive payments from overseas clients and withdraw funds to Indian bank accounts.
What are PayPal fees in India for receiving money?
PayPal charges 4.4% per transaction plus a fixed fee and an additional 2.5–4% currency conversion markup.
Is PayPal expensive for Indian freelancers?
Yes, PayPal is considered expensive due to high transaction fees and unfavourable exchange rates.
How long does PayPal take to transfer money to Indian banks?
Withdrawals to Indian bank accounts usually take 2–4 business days.
Does PayPal provide FIRA for Indian users?
Yes, PayPal provides FIRA documentation for international payments received in India.
Can I hold USD in PayPal in India?
No, Indian users cannot hold foreign currency balances; funds are auto-converted to INR.
Is PayPal safe to use in India?
Yes, PayPal is secure and uses encryption and fraud monitoring, but account reviews may cause delays.
Why do Indian users look for PayPal alternatives?
High fees, slow settlements, and poor exchange rates push Indian users to look for better options.
What is the best PayPal alternative in India?
Infinity is one of the best alternatives due to lower fees, faster payouts, and India-specific compliance support.
Is Infinity cheaper than PayPal?
Yes, Infinity charges significantly lower flat fees compared to PayPal’s percentage-based pricing.
Is Wise better than PayPal for India?
Wise offers better exchange rates and lower fees, but settlements may take longer than Infinity.
