PayPal alternative to accept international payment in India is a hot search keyword by Blogger, Freelancer, website owner and startup due to the high charges of PayPal. Well I was also among one of them, while working for the clients it was really very frustrating to give around 8% of your money to PayPal as PayPal charges to receive the payment as well as for the currency conversion.
Paypal alternative to accept international payment in India?
If I tell you about one of my recent transaction on 7th Feb 2021, I received a payment of $520 and the actual USD to INR exchange rate was 72.86 on 7th Feb 2021 and from PayPal I got the exchange rate of 70.19621966441137.
After deduction of the charges (PayPal fee-$ 27.35 USD) PayPal converted the $ 492.65 to INR with exchange rate of 70.19621966441137 that was INR 34,582.17.
Now If we calculate from the actual rate on the amount that I have received,
it would be $520 x 72.86 = ₹37887.20
If I calculate the total difference = ₹37,887.20 – ₹34,582.17 = ₹3,305.03
That is around 8.7% of the actual amount.
Razorpay Charges
Now let’s take a look on the RazorPay’s settlement amount.
On the 8th April 2021 I have received a payment of $998.00 via RazorPay. Actual Dollar to INR exchange rate on the 8th April 2021 was 74.54. RazorPay’s exchange rate was 73.8541 and total amount captured after conversion was 73706.49. For this transaction RazorPay’s charges were ₹2,609.2 (Razorpay Fee – ₹ 2,211.20, GST – ₹ 398.02).
So after deduction of the charges I got ₹71,097.29 in my account.
Now If we calculate from the actual rate on the amount that I have received,
it would be $998 x 74.54 = ₹ 74,390.92
If I calculate total difference =₹ 74,390.92 – ₹ 71,097.29 = ₹ 3,293.63
That is around 4.42% of the actual amount.
And the difference between the actual charges is clear from this calculation that’s the main reason I considered the RazorPay as Paypal alternative for international payment in India.
Now Let’s talk about the settlement time of both
Paypal’s settlement is far quicker than RazaorPay, mostly Paypal deposited the amount next day in the added bank account. On the other hand RazorPay’s settlement cycle is T+7 working days. Here T is the day on which you have received the money and if we include 7 working days it goes to around 8-10 days normally, due to the bank holidays.
But that’s not the end here because recently RazorPay introduced a new feature that is “Early Settlement” in that they charge 0.3%+GST and you can settle the amount early. Now it’s still very lower than PayPal.
In the starting RazorPay’s early settlement limit will be lower and they will increase it as time goes.
RazorPay Invoice
Apart from this RazorPay also provides few exciting features that are useful when you are a Freelancer or company that provides the services those cost varies. RazorPay’s invoice feature is best for these type of transactions. You can add customers and can generate invoices in their currency for them. It supports 90+ currency. RazorPay will also send the notification on the Mobile as well as on email of the customer regarding this due invoice.
On the payment page RazorPay also provides the feature to add the PayPal, but again the charges of Paypal are higher and I think you don’t want to opt it.
Also Read: 7 type of digital marketing that you should learn
RazorPay Payment Pages
If you have fixed price products but don’t have an ecommerce website then you can create the Payment Pages for your clients. A payment page is same like an eCommerce product page there you can add images of your product, detail about the product, Fields that you wants to add for customer to fill before making the payment etc.
You can check the Payment Page example from this link https://rzp.io/l/ZQbqRw2Ua
RazorPay Payment Link
Sometimes it is required to send a payment link to the customer from that they can make the required payment. To fulfill this RazorPay provides a feature of payment links. You can create as many as payment links and can share with them your clients or can add them to your website.
RazorPay Payment Button
If you are running a blog or website in that you need to put a Payment or donation button, then this feature will be very useful for you. You can create the Payment buttons 
Add the required fields that you want to get filled by your customer before making the payment.
Now your payment button is ready, just click on crate button. 
Now you can integrate the button on your website or can configure the custom message / redirection page after successful payment.
Apart from this you can also accept the Indian customer payment in INR at very competitive rate.
There are many other useful features that you can read from their website.
