This is the definitive comparison of international payment gateway fees for Indian businesses — all platforms, all fee types, true all-in costs. Updated for 2026.
Fee Comparison: International Card Acceptance
For Indian businesses accepting Visa/Mastercard/Amex from US, UK, EU, UAE customers:
| Gateway | Stated Rate | Forex Markup | True All-In | FIRA Auto | INR Settlement |
|---|---|---|---|---|---|
| Playto Pay | 4% flat | 0% | 4% | ✅ Auto | Daily |
| Razorpay International | 3% | ~1.3% | ~4.3% | ❌ Dashboard | T+1-2 |
| Cashfree International | 3.5% | ~1.2% | ~4.7% | ❌ Dashboard | T+2 |
| CCAvenue International | 3-3.5% | ~1.5% | ~4.5-5% | ❌ Manual | T+3-5 |
| PayU International | 3-3.5% | ~1.5% | ~4.5-5% | ❌ Dashboard | T+2-3 |
| PayPal | 4.4%+$0.30 | ~3% | ~7.3-9% | ❌ No | T+3-5 (+ hold risk) |
| Payoneer (direct billing) | ~3% sender fee | ~2% | ~5% | ❌ No | T+2-3 |
| Stripe (via US LLC) | 2.9%+$0.30 | 0% | ~5% incl LLC cost | ❌ No | T+2 (then Wise to India) |
| Instamojo International | Limited | ~2% | ~5%+ | ❌ No | T+3+ |
Fee Comparison: VBA Wire Receipts
For Indian businesses receiving USD/GBP/EUR via bank wire through a Virtual Bank Account:
| Gateway | VBA Rate | Forex Markup | True All-In | Currencies |
|---|---|---|---|---|
| Playto Pay | 1% flat | 0% | 1% | USD, GBP, EUR, AED |
| Skydo | 0.3% flat | 0% | 0.3% | USD, GBP, EUR |
| Xflow | ~1-2% | ~0-0.5% | ~1-2.5% | USD, EUR |
| Winvesta | ~1-2% | ~0.5% | ~1.5-2.5% | USD, GBP, EUR |
| Wise Business | ~0.4% | ~0.5% | ~0.9% | 50+ currencies |
| Indian Bank SWIFT | ₹500 fee | ~1.5-2% | ~1.5-2% | USD, GBP, EUR |
| PayPal | N/A | 2.5-3.5% on withdrawal | N/A | USD |
Note on Skydo: Cheapest for large wires (above $10K). Best combined with Playto Pay for cards and smaller wires.
Fee Comparison: UPI and Domestic Indian Payments
| Gateway | UPI Rate | Indian Card | Domestic NEFT/IMPS |
|---|---|---|---|
| Playto Pay | 0% | Included | N/A |
| Razorpay | 0% | 2% + GST | 0% |
| Cashfree | 0% | 1.95% + GST | 0% |
| PayU | 0% | 2% + GST | 0% |
| CCAvenue | 0% | 2% + GST | 0% |
Fixed and Annual Fee Comparison
| Gateway | Setup Fee | Monthly Fee | Annual Maintenance |
|---|---|---|---|
| Playto Pay | ₹0 | ₹0 | ₹0 |
| Razorpay International | ₹0 | ₹0 | ₹0 |
| Cashfree International | ₹0 | ₹0 | ₹0 |
| CCAvenue International | ₹5,000-₹15,000 | ₹0 | ₹1,500-₹5,000 |
| PayU International | Varies | ₹0 | ₹0 |
| Stripe (via LLC) | $500-1,500 (LLC) | $83-250 (LLC) | $1,000-3,000/yr |
True Annual Cost: $10,000/Month International Revenue
| Gateway (card) | True Monthly Cost | True Annual Cost |
|---|---|---|
| Playto Pay | $400 | $4,800 |
| Razorpay International | ~$430 | ~$5,160 |
| Cashfree International | ~$470 | ~$5,640 |
| PayPal | ~$730 | ~$8,760 |
| Stripe via LLC | ~$500 | ~$6,000 |
Annual saving vs PayPal: ~$3,960 = ₹3.3 lakh.
What to Choose: Quick Decision Guide
| Situation | Best Choice |
|---|---|
| Primary international cards + FIRA auto + daily INR | Playto Pay |
| Large wire invoices above $10K | Skydo |
| Mid-size wires $1K-$10K | Playto Pay VBA |
| Indian domestic payments alongside international | Playto Pay (both) |
| Marketplace income withdrawal (Upwork, Fiverr) | Wise |
| Enterprise card processing ($5M+ annually) | Adyen or Stripe (with entity) |
FAQ
Which Indian payment gateway has the lowest international card fee? Playto Pay at 4% flat with zero forex markup is the lowest true all-in cost. Razorpay states 3% but applies ~1.3% forex markup (effective ~4.3%). Cashfree states 3.5% + ~1.2% markup (effective ~4.7%).
Is there a payment gateway for Indian businesses with zero forex markup? Yes. Playto Pay applies mid-market rate with zero forex markup on both card settlements and VBA wire receipts.
Which is better for Indian businesses: Razorpay International or Playto Pay? For domestic-primary businesses: Razorpay (better domestic ecosystem). For international-primary businesses: Playto Pay (lower true all-in rate, FIRA auto, daily INR, AED VBA).