Global payments
Posted on Apr 14, 2025
With the pace of the world economy today, Indian businesses, especially SMEs, freelancers, and exporters, need fast, reliable, and secure means of making international transactions.
Karbon Business is a fintech revolution that simplifies sending and receiving money overseas. If you need to streamline vendor payments or corporate expenses, Karbon Business has a variety of services designed for the new Indian business.
This post investigates what Karbon Business provides, its major features, price, and reliable alternatives, to assist you in deciding if it is right for your global payment requirements.
What is Karbon Business?
It was launched in 2019 as a Karbon Card. First, the platform focused on corporate card solutions. After which it has grown into a full-fledged b2b fintech platform, now known as Karbon Business. It offers tools for:
Cross-border payments abroad
Corporate credit cards
Vendor payments
This growth now turns it into an indian startup, sme, and an exporter, a one-stop financial solution which helps in managing cross-border transactions.
Major Features of Karbon Business
1. Inward Remittance
Fast transaction- Get your payments to indian bank accounts within just 24–48 hours.
Trusted partnerships- IDFC Bank, Visa, and JP Morgan Chase partnerships ensure safe and easy transactions.
Currency support- Already supports USD, with future plans to support 12 other currencies in the near future.
2. Outward Remittance
Multi-currency payments: Pay workers, contractors, and suppliers in more than 30 currencies.
Transparent Pricing: Live forex rates with a single upfront fee—no hidden or surprise fees.
3. Corporate Cards and Payouts
High Credit Limits: Get up to ₹15 Cr of unsecured credit—no personal guarantee required.
Employee Cards: Offer an unlimited number of cards to your employees, with flexible spend limits.
Vendor Payments: Pay suppliers and partners 24/7, even on credit, through Karbon's Payouts feature.
Pricing Structure of Karbon Business
Inward Remittance: One flat 1% charge on received amounts.
Outward Remittance: Up to 1% per transaction.
Corporate Cards: No annual or issuance fees.
While the 1% fee is simple and clear, it can be costly for businesses with large volumes of transactions.
Compliance and Security
FIRA issuance: Issues Foreign inward remittance advice (FIRA) for each transaction to facilitate compliance with the law.
Security: It also works with institutions that are renowned around the world and also takes into consideration safety protocols to protect your funds.
Limitations to consider
Currency limitations: For now, USD is only accepted for inward remittance, limiting flexibility for businesses receiving payments in different currencies.
Cumulative fees: Although the flat rate of 1% is guaranteed, it implies higher fees on larger remittances.
Alternatives to Karbon Business
1. Payoneer
Global Access: Provides virtual bank accounts in numerous other currencies; interacts with Amazon, Walmart, etc.
Fees: Varies; credit card payments incur a 3.2% + $0.49 fee.
Compliance: Distribute free electronic FIRAs to Indian companies.
2. Skydo
Transparent Pricing: Real-time prices of forex with no conversion fees.
End-to-End Features: Includes invoice generation, tracking, and support.
FIRA Ready: Provides instant-in-time FIRAs for all trades at no charge.
3. Wise (previously TransferWise)
Exchange Rates: Mid-market rates charged with fees of around 1–2%.
Multi-Currency Accounts: Hold and keep money in over 80 nations.
Compliance: Offers electronic FIRAs at a minimal cost.
4. Infinity
Transparent Pricing: Infinity charges a flat fee of 0.5% with no other hidden charges.
Instant FIRA: Infinity provides instant FIRA after every transaction, which is free of cost.
Real Time Tracking: Get your international payment in 1 business day with real-time access to your money.
Infinity: A Karbon Business Alternative for Indian Users
Karbon Business is distinguished by its no-frills pricing, high-security features, and full B2B functionalities, perhaps the winning solution for indian SMEs and exporters who make international payments.
However, businesses need to see the current market limitations and fee accumulation before fully adopting it. Conversely, Infinity offers other advantages, whether you require more supported currencies, reduced transaction fees, or more advanced treasury features.
Infinity offers-
Transparent Pricing: Infinity provided international payment services at a flat 0.5% platform fee with no other charges.
Live FX Rates: Infinity converts your money at live FX rates with no FX markup. This means you can convert your international payment at live Google rates with no other markup fees.
Instant FIRA: Infinity provides instant and free-of-cost FIRA for every international transaction made. This means you comply with the laws without any hassle.
Let's take an example:
Suppose for a payment of $1000 and live FX being 86.02, you would receive ₹ 85,589.9 in your bank account. Here is the breakup: 86.02 x 1000 = 86,020- 0.5%= 85,589.9
Conversely, with Karbon Business, you pay a platform fee of 1% and 18% GST on the amount received.
Additionally, you get 24/7 customer support and a seamless experience with a built-in tool to manage invoices and track payments, all from one intuitive dashboard.
So, what are you waiting for? Sign up with Infinity today and start saving on your international payments!
