Top Five Payoneer Alternatives in 2025

1. Dodo Payments

Dodo Payments is a Merchant-of-Record (MoR) platform for digital and SaaS businesses. It enables companies to sell to customers in 150+ countries. As MoR, Dodo handles payment processing, tax calculations, and regulatory compliance on behalf of the merchant. This lets startups expand globally without setting up local entities

Key Features:

Global payments platform: Accepts credit/debit cards, wallets, and local payment methods worldwide

Tax & compliance automation: Automatically calculates sales tax/VAT, generates remittance docs, and handles filings for each sale

Subscriptions & billing: Built-in recurring-billing and subscription management (automated invoices and renewals) for SaaS and digital products

Customizable checkout: Merchants can fully brand and customize the payment checkout experience for customers.

Fraud & risk tools: Includes AI-driven fraud detection, chargeback management, and risk scoring out of the box

Pros

• Transparent Pricing with no hidden fees, ensuring clarity in costs.

• Custom Pricing options for larger accounts.

• Set up your Account within 24 - 72 hours

• Flexible Payment Options to cater to diverse customer needs.

• Facilitates transactions in over 190+ countries.

• 24/7 Personalized assistance available.

Cons

• Primarily supports digital/online businesses; may lack some niche payment methods.

Pricing

Standard plan charges 4% + $0.40 USD per transaction (no setup or monthly fees). 

Enterprise pricing is custom for high-volume clients.

Best for

Startups and digital product businesses (SaaS, apps, e-books) that sell globally and want an all-in-one solution.

2. PayPal

PayPal is a well-known global payments company offering multi-currency wallets and merchant services. In India, PayPal only supports cross-border transactions (no domestic INR payments), but billions of users worldwide have PayPal accounts, making it easy for foreign clients to send money. 

Recently, the RBI granted PayPal in-principle approval as a cross-border Payment Aggregator, which should streamline export payments under the RBI rules

Pros

• Trusted worldwide, as clients are already familiar with PayPal and feel secure using it.

• Quick and simple, no need for complex integrations.

• Multiple payment options

• Works with many e-commerce platforms and online marketplaces.

Cons

• You can’t use it for domestic transactions within India.

• The combined transaction and currency conversion fees can eat into your earnings.

• Not ideal for large transactions, especially with recurring or high-ticket payments.

• It can’t be used for paying Indian vendors or freelancers.

Pricing

PayPal Merchant Fees 4.40% + Fixed Fee

Fixed fee for commercial transactions (based on currency received)

3. Wise

Wise is a global money transfer service known for low-cost currency exchange. Wise Business accounts let Indian companies hold and manage money in multiple currencies

In India, Wise provides local account details in 8 major currencies (USD, EUR, GBP, AUD, CAD, SGD, NZD, HUF), so clients abroad can pay you via local bank transfers and you receive INR directly (with official FIRC receipts). Wise uses real mid-market exchange rates with only small, transparent fees. 

Pros:

• Typically cheaper than PayPal or Payoneer for large transfers. Mid-market exchange with only a small commission saves money

• Local account details mean clients pay in their local currency; Wise remits INR to you, easing compliance (Wise provides eFIRC)

• Operates under RBI permission, so compliant with Indian law.

• User-friendly app/website and fast transfers.

Cons:

• Wise is not a payment gateway; it’s purely for transfers. 

• You cannot accept credit cards or payments on your site via Wise. Clients must initiate a bank transfer.

• Lacks shopping-cart checkout widgets integration is mostly by invoicing or manual payment.

• Some cross-border transfers may take 1–3 days.

Pricing

No monthly cost. Currency conversion fees start around 1.16% (depending on currency pair)

4. Stripe

Stripe is a payment processing platform offering tools to manage online payments and subscriptions. While not an MoR, it provides robust APIs for developers to integrate payment solutions seamlessly.

Pros

• Excellent developer tools and APIs.

• Support for localized payment methods in India and other regions.

• Transparent pricing for various payment types.

Cons

• Requires additional tools for tax compliance and subscription management.

• Not a Merchant of Record, so businesses must handle chargebacks and compliance independently.

• Limited accessibility in countries like India, as it operates on an invite-only basis.

Pricing

2% for cards issued in India.

3% for cards issued outside India

Additional fees for currency conversions, international cards, billing, tax compliance, invoicing, fraud management, and other services.

5. Razorpay

Razorpay is a leading Indian payment gateway that also caters to international transactions. It supports multiple currencies, automatically converting foreign payments into INR. Its APIs and payment buttons integrate seamlessly into websites and apps. 

Razorpay also offers built-in PayPal integration, allowing you to receive PayPal payments directly through the Razorpay dashboard. 

Pros:

• Supports multi-currency acceptance for cards, UPI, and wallets in 100+ currencies

• Easy integration through APIs, SDKs, and payment buttons

• Built-in PayPal integration for extra flexibility

• MoneySaver Export Account offers low-fee bank transfers from 160+ countries

• No withdrawal fees or hidden markups on MoneySaver accounts

Cons:

• International card transaction fee (3% + GST) still applies

• PayPal payments via Razorpay incur PayPal’s separate fees

• Domestic focus means fewer features for global compliance compared to dedicated MoR services

• User interface can be overwhelming for first-time users

Pricing:

Standard Razorpay rates (varies by volume, typically 2%–2.5% + GST)

International card transactions: 3% + 18% GST (≈ 3.54% total)