Remitly Alternative: Choosing the Right Platform for Business Payments
If you’re receiving payments from clients abroad, you need a platform that’s fast, compliant, and cost-efficient. Remitly is one of the most trusted names for cross-border transfers, known for its smooth user experience and reliability in personal remittances. But when it comes to commercial or business payments, the requirements are slightly different.
This guide breaks down how Remitly works, where its use cases differ for businesses, and what alternatives you can consider if you regularly receive international payments for services or exports.
Understanding Remitly’s Core Strengths
Remitly is an American fintech company that enables individuals to send money internationally with speed and transparency. It operates in 30+ sending countries and supports 170+ receiving destinations, including India, processing over $18.5 billion in annual volume.
Here’s what users consistently appreciate about Remitly
- Fast Transfers: Money can reach India in minutes, depending on the corridor and payment method.
- Simple Experience: Clean design, easy onboarding, and options like UPI and bank deposit make it user-friendly.
- Reliability: The “on-time or fee refunded” promise ensures accountability and trust.
- Competitive Entry Rates: First-time users often find attractive exchange rates and low upfront fees.
For personal transfers, these features make Remitly an excellent choice.
Where Remitly’s Model Differs for Business Payments
While Remitly is built on strong technology and trust, its framework and regulatory positioning are optimised for individual remittances, not commercial inflows.
Here are the key factors to know before using it for business payments:
1. Usage Classification
Remitly is built for personal money transfers, things like family support or individual remittances. If you’re receiving client or export payments through it, that technically falls outside its permitted use.
Such transfers aren’t treated as business receipts under Indian regulations, which means you won’t get a valid FIRA for them. Without that, reconciling income during audits or export filings can turn into a hassle later.
2. Compliance Documentation
For every foreign payment received, Indian businesses require certain documents for compliance, namely, the Foreign Inward Remittance Advice (FIRA) and, for goods and software exporters coming under SOFTEX, an eBRC (Electronic Bank Realisation Certificate) is also needed
Remitly does not automatically issue these documents since it isn’t designed for export-linked commercial flows. Businesses or freelancers receiving such payments may need to approach their bank separately to obtain them, a process that can take 7–15 days and often involves additional fees.
3. Remitly Business: Limited to U.S. Senders
Remitly also offers Remitly Business, a dedicated account for U.S.-based companies (LLCs, corporations, and sole proprietors) sending money abroad. However, this service focuses on the sending side of the transaction. For Indian freelancers or exporters receiving payments, compliance and reconciliation responsibilities still rest locally.
Key takeaways:
- The sender must be a registered U.S. business.
- The platform currently supports outward remittances, not inward business receipts.
- Exchange rates can include markups after introductory limits (e.g., first $10,000 at promotional rates).
So while Remitly Business adds convenience for senders, it doesn’t yet extend a full commercial payments framework for receivers in India.
What to Look for in a Business-Grade Remitly Alternative
If you often receive client payments for exports or services, look for platforms that specifically support B2B inward remittances. Here’s a tactical checklist:
| Factor | What It Means | Why It Matters |
| Regulatory Alignment | Platform supports business remittances under RBI/FEMA guidelines | Prevents compliance issues |
| Documentation Support | Automated FIRA offered | Saves time and avoids penalties |
| Transparent Pricing | Clear fee structure + mid-market exchange rate | Prevents hidden FX losses |
| Fast INR Settlement | 24–48 hour payout window | Improves cash flow |
Top Remitly Alternatives for Indian Freelancers & Businesses
Below are platforms better suited for business transactions and exports, each with distinct strengths.
1. Wise Business
Wise offers multi-currency accounts and transparent conversion at the mid-market rate. It supports 50+ currencies and issues digital FIRA for inward remittances to India (charged per transaction).
- Fees: 1.6-1.8% of the transaction value
- Exchange rate: Mid-market rates without any markup
- FIRA: offered at USD 2.5/FIRA
- Wise card currently not available in India
- Ideal for freelancers and small businesses handling recurring payments.
2. Payoneer
Payoneer remains one of the most established names for Indian service exporters and marketplace sellers.
- Integrated with 2,000+ global marketplaces (Amazon, Upwork, Fiverr).
- Offers FIRA for free and supports ACH, card, and bank transfers.
- Currency conversion markup: ~3% when withdrawing to INR.
- Receiving fees: 0-1% via virtual account, 1% for ACH; 3.2% + $0.49 for cards.
A solid option for those who receive payments from established platforms or recurring global clients.
3. PayPal
PayPal is still among the most widely accepted payment methods globally. For Indian users, it supports only cross-border transactions — no domestic INR payments.
- Fees: 4.4% + fixed currency charge
- FX markup: ~3–4%
- Provides monthly consolidated FIRA, simplifying compliance.
PayPal’s universal recognition helps with client trust, though its pricing is on the higher side for frequent transactions.
4. Stripe (Invite-Only for India)
Stripe’s infrastructure is exceptional for global SaaS and developer-focused businesses. However, in India, it remains invite-only and supports international card payments only.
- Fees: ~6.3% (4.3% + 2% conversion)
- No automatic FIRA
- Ideal for businesses with global clients prioritising API integration.
5. Karbon Business
An Indian platform that now supports inward and outward remittance.
- Supports 30+ currencies
- Provides instant FIRA and live forex rate
- Charges 1% fee on inward payments
- Settlement within 24–48 hours
Best suited for startups or SMEs with frequent USD payments.
6. Infinity Payment
A Bangalore-based platform focused on affordable cross-border collections.
- No FX markup
- Free digital FIRA
- Global account for 30+ currencies
- Flat 0.5% fee per transaction
Also offers treasury management options for idle cash, a rare bonus.
7. Skydo: Best Remitly Alternative for Indian Businesses
Skydo is an India-first platform designed specifically for exporters, agencies, and freelancers receiving global payments. It brings together compliance, speed, and transparency in one dashboard.
Key Highlights:
- Automatic FIRA for all & eBRC for Amazon global sellers at no extra cost.
- Live mid-market exchange rate with no hidden markup.
- Transparent Pricing: $19 for payments up to $2,000 | $29 for $2,001–$10,000| 0.3% for payments above $10,000
- Dual-rail support: While transfers via virtual bank account are open to all, via Instalinks, Skydo also lets you accept credit card and net banking payments from your US clients
- 24-48-hour INR settlement.
- India-based support and proactive onboarding assistance.
Skydo functions as a business-grade receiver, simplifying every step from payment to compliance.
Skydo vs Remitly: Business Readiness at a Glance
| Feature | Remitly | Skydo |
| Use case | Personal remittance | Business & export payments |
| Compliance | No FIRA | Free instant FIRA for all and free automated eBRC for Amazon Global sellers |
| Forex Rate | Promotional + markup | Live mid-market, zero markup |
| Settlement | Quick, depends on corridor | 24-48 hour settlement |
| Support | Global, sender-focused | India-based, receiver-focused |
Final Take: How to Pick the Right Platform
When choosing a Remitly alternative, focus on your actual needs — not just fees.
- If your payments are personal, Remitly remains a solid, reliable choice.
- If your payments are commercial, a business-grade receiver like Skydo will serve you better.
With Skydo, you get both, the transparency of a fintech and the compliance of a regulated Indian platform. You can sign up in under 5 minutes and start receiving payments globally with automatic FIRA, no paperwork, no follow-ups.
👉 Get started with Skydo and simplify your international business payments today.
Can I use Remitly to receive business payments in India?
Remitly is built for personal transfers — not for business or export-related payments. If you receive client payments through it, they won’t generate a valid FIRA, which can cause compliance and documentation issues later. However, via the Remitly business, US-registered businesses can send business payments
What’s the best Remitly alternative for Indian freelancers or agencies?
Why does FIRA matter when receiving foreign payments?
How is Skydo different from Remitly?
Can my U.S. clients pay me by card or ACH using Skydo?
