A lot of India freelancers, bloggers etc don’t know how to receive international payment in India talkless of how to make international payment from India.
I have a friend in India who keeps on asking these questions; how can I make international payment from India?. I am in India, how can I receive international payment?
The fact is, the same way you receive payment internationally (I mean from other countries like USA, Nigeria, UK, Canada, etc.) is also the same way you will make payment as well.
In this article, you will know the methods Indians can receive payments and also make payments from foreign countries.
How to receive international payment in India
There are various methods you can use to receive international payment in India, and they are:
- Instamojo and
- Wire transfer
Paypal is one of the best methods when it comes to both making payments and also receiving payments online. Paypal is widely acceptable in almost all countries. But in case you want to be sending payment to people abroad, I will advise you to open a business paypal account instead of a personal paypal account.
The downside about Paypal is the exchange rate which may not be favourable but in case you don’t like paypal, you can check the next alternatives.
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Just like Paypal, Payoneer is an alternative method you can use to make payment as well as receive payment online. Although, Payoneer isn’t the cheapest option available, but it is definitely better than PayPal in terms of exchange rates and other charges. Payoneer isn’t easy to use unlike that of Paypal, and the charges is Payoneer is higher than that of Paypal.
Skrill is also a popular online payment service and it is also a strong contender when it comes to making payments and also receiving payment from foreign countries. However, Skrill offers a better exchange rate and transaction cost to its users.
Though it is not easy to have a Skrill account unlike that of Payoneer and Paypal in which registration and getting approve is very easy. Skrill has zero deposit fees, zero withdrawals fees, and free money transfer service and some of these features make it a great choice among private users.
Stripe started operation in 2011 but they began involving themselves in the online payments service in India just recently.
Globally speaking, Stripe can be considered as the 2nd most popular online payments solution after PayPal. This is because it be use easily.
Their fees are definitely lesser as well.
If you are looking to receive funds from abroad to India, Stripe is also a good option to consider.
2Checkout is also another online payment service that let you choose from 87 different currencies, eight payment types, and 15 languages. And guess what, 2Checkout even accepts PayPal as one of its payment methods.
The major setback of 2Checkout is the average fee for currency conversion. it is 2-5% above the daily bank exchange rate.
2Checkout also has an advanced fraud protection feature that shields its customers from getting scammed from scammers, so yes, 2Checkout is also one of the methods to receive payments and make payments in India
Instamojo is an online payment service in India (Bangalore).
Instamojo allows Indian freelancers and business owners to easily setup a payment gateway for their international clients by means of generating a payment link.
A variety of payment methods such as Debit/Credit cards, Wallets and even India payment solutions such as Net Banking and UPI are supported in their gateway.
Instamojo fees are normal and they also have good customer support.
Also Read: How to start a business of your own
7. Bank Wire or Wire Transfer
You can also receive payment online via bank wire or directly to your bank account. It is just that the sender that want to send payment from abroad must initiate an international “Wire Transfer” from their bank account to your India bank account.
Before he can do this, you must provide the sender abroad the following details;
- Your India bank account number
- Your bank, it’s branch where you hold the account and branch address
- Your local address
- Bank IFSC Code and
- Bank SWIFT Code
With all these information, the sender can initiate the international payment and you can receive your money in your India bank account.
With all these methods, you can now start receiving international payment in India and also make international payment from India.
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