Top PayPal alternatives in South Asia [2026]
Last update:
Compare the top alternatives to PayPal for multi-currency support, card access and cross-border business payments
- PayPal does not offer multi-currency accounts for Indian businesses and it is currently unable to provide its services in Pakistan
- Top PayPal alternatives in India, Pakistan and Bangladesh include WorldFirst, Payoneer, Wise and Elevate Pay
- WorldFirst offers local currency accounts in 15+ currencies, zero receiving fees and access to multi-currency business payment cards
- Payoneer supports sending in 70+ currencies across 190+ countries, though receiving from non-Payoneer customers can cost up to 3.2%²
- Wise Business accounts are available but receive-only in India⁵
- Elevate Pay offers a USD-only account for receiving via ACH and wire
PayPal is one of the most recognised digital payment platforms globally, used by businesses across South Asia to receive payments from international clients. PayPal does not offer multi-currency accounts.¹ So when a client pays you, the funds are converted to your local currency right away at PayPal’s exchange rate and sent to your bank account. You cannot hold the money in USD, GBP, EUR or any other currency to wait for a better rate.
International payments from clients also come with a 4.40% fee plus a fixed fee that depends on the currency you are receiving.¹ And PayPal isn’t available in every market across South Asia, which is why many businesses may look for PayPal alternatives.
1. WorldFirst
WorldFirst is an international payments provider built for businesses in global trade. Through the World Account, businesses can open virtual local currency accounts in 15+ major currencies, including USD, GBP, EUR, CNH, AUD and NZD. Receiving and holding funds is free. You can also convert at competitive rates only when the timing works for you.WorldFirst also offers World Card, which is a Mastercard-powered business payment card that you can use to make transactions in 150+ currencies. When you pay in any of 15 supported major currencies with sufficient balance held in that currency, there are no fees.
| Key features |
|
|---|---|
| Main fees |
Monthly fee: Zero Opening virtual local currency accounts: Zero Receiving payments: Zero Holding funds in multiple currencies: Zero Sending payments to other World Account holders: Zero Sending payments: Standard payment fee for Pakistan and Bangladesh is 1.5% Paying 1688.com suppliers: Up to 0.8% currency conversion fee Getting a World Card: Zero for card issuance; other transaction fees may apply |
Fees checked in April 2026. Terms and Conditions Apply.
2. Payoneer
| Key features |
|
|---|---|
| Main fees⁴ |
Monthly fee: Zero Multi-currency account fee: Zero Receiving from Payoneer customers: Zero Receiving from non-Payoneer (credit card): Up to 3.2% + US$0.49 Sending to other Payoneer accounts (same country): Zero Sending to non-Payoneer accounts: 1%-4% of transaction amount Currency conversion: 1%-4% + exchange rate Business card: US$29.95 annual fee |
Fees checked in April 2026. Payoneer fees may vary by region and account type.
3. Wise
Wise is a global payment provider that allows users to send and receive money in multiple currencies, with separate accounts for individuals and businesses.
Wise Business in India is receive-only, meaning businesses can collect and convert funds, but cannot send or hold them. Indian businesses can receive in 8+ local currencies, each with dedicated account details.⁵
Only personal accounts are supported in Pakistan or Bangladesh.⁵
| Key features |
|
|---|---|
| Main fees⁶ |
Monthly fee: Zero Multi-currency account fee: Zero Receiving domestic payments (non-SWIFT/non-wire): Zero Receiving USD, GBP and EUR via SWIFT or wire: Up to US$6.11 Holding multiple currencies: Not supported in India Sending payments: Not supported for business in India Currency conversion: Real-time exchange rate; transfer fee, e-FIRC fee and GST deducted Business card: Not supported |
Fees checked in April 2026.
4. Elevate Pay
Elevate Pay offers local USD accounts to individuals. Users can receive USD via ACH and wire transfers, then withdraw to a local bank account.⁷ There is no multi-currency support or virtual cards.
| Key features |
|
|---|---|
| Main fees⁷ |
Monthly fee: Zero USD account fee: Zero Receiving via ACH: Zero Receiving wire transfers: US$30 Outbound ACH: US$1 (1–3 business days); same-day ACH: US$2 International transfers (Pakistan and Bangladesh): FX rate + US$1.50 Currency conversion: Not specified; partner FX Business card: Not available |
Fees checked in April 2026.
Find the best PayPal alternative for your brand
PayPal offers a straightforward way to receive international payments, but it does not provide multi-currency accounts, hold funds across currencies, or support card access for businesses in many South Asian markets. For businesses that need to hold funds in the original currency, pay overseas suppliers, collect from marketplaces or spend internationally on a card, a multi-currency account may be a better fit.
WorldFirst offers local currency accounts in 15+ currencies with zero fees on receiving, the World Card for international spending, and World Pay for paying suppliers on 1688.com–all from one platform.
Sources
- https://www.paypal.com/in/business/paypal-business-fees
- https://www.payoneer.com/
- https://payoneer.custhelp.com/app/answers/detail/a_id/18226/~/account-with-card—faq
- https://www.payoneer.com/about/pricing/
- https://wise.com/in/business/receive-money
- https://wise.com/in/pricing/business
- https://help.elevatepay.co/hc/en-us/articles/18040869186833-How-does-Elevate-Pay-s-pricing-work
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
Author
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