Discover infinity
Posted on Apr 15, 2025
SMEs and freelancers, Indian companies know all too well the pain points that come with processing international payments, considering the state of the global economy. Besides the ever-changing forex rates, compliance complications, and hidden charges are enough to make anyone feel like they're navigating a maze.
That's where Skydo steps in. Focused on Indian companies having to deal with the complexities of international transactions, Skydo aims to make cross-border payments easier, quicker, and clearer.
Let's examine what Skydo has in store, how its pricing scheme works, and if it’s the right fit for your company.
What is Skydo?
Skydo is essentially a fintech company that allows Indian businesses to receive international payments with ease. If you are a freelancer catering to international customers or a business dealing in services or goods, Skydo makes it hassle-free for you by providing access to multi-currency accounts, including foreign currency denominated accounts like USD, EUR, GBP, and CAD.
However, it doesn't stop at receiving payments. Skydo also provides the ability to create invoices and receive payments in the same system as accounting. It goes beyond being just a payment receiver, streamlining your entire payment process workflow in a single solution.
Key Features of Skydo
1. Global Bank Accounts
Skydo provides you with virtual bank accounts in multiple currencies, allowing you to receive payments as if you had a local bank account in the US, UK, Europe, or Canada. This not only improves credibility with clients but also reduces payment friction.
Currencies Supported: USD, GBP, EUR, CAD, AUD, AED, SGD
Fast Setup: You can get your virtual account details up and running in just a few clicks.
2. Transparent, Flat Pricing
One of Skydo’s biggest selling points is its flat, predictable pricing structure. No percentage-based surprises or forex markups.
And the best part? Zero forex margin—you get live, interbank exchange rates without any hidden markups.
3. Instant FIRA Generation
Every international transaction in India needs to comply with regulations, and that’s where FIRA (Foreign Inward Remittance Advice) comes in. Skydo automatically generates FIRAs instantly for each transaction, so you’re always in compliance without doing any extra paperwork.
4. Real-Time Payment Tracking
Wondering where your money is? Skydo offers real-time tracking for your payments, so you’re always in the loop.
Skydo's Pricing Structure
Skydo’s flat fees make it very appealing to small and mid-sized businesses that want to avoid the complex, tiered pricing of traditional banks and platforms.
Transparent flat fees based on the transaction amount. For payments up to USD 2000, Skydo charges you $19; for payments up to USD 2001-10,000, Skydo charges $29; and for payments above $10,000, you pay 0.3%.
No hidden charges.
No markup on exchange rates.
This simplicity allows businesses to plan better, invoice more confidently, and reduce overhead associated with reconciling payment costs.
What Makes Skydo Stand Out?
There are plenty of cross-border payment platforms out there, but Skydo has carved out its niche in the Indian business ecosystem thanks to a few key strengths:
User-Friendly Dashboard: Even if you’re not a tech whiz, you’ll find the interface intuitive.
Local Compliance Built-In: No more chasing down your bank for FIRAs or worrying about documentation.
Dedicated Support: Got questions or issues? Skydo’s customer support team is there to help.
Things to Keep in Mind
While Skydo offers a strong overall package, it’s worth noting a couple of considerations:
Currency Limitations: Currently, only a few major currencies are supported. If your clients operate in less common currencies, you might face restrictions.
Learning Curve: While the platform is user-friendly, first-time users may need a little time to explore all the features and understand how to best use them.
Alternatives to Skydo
If you're evaluating Skydo, it's good to consider a few alternatives to ensure you're choosing the platform that aligns with your specific needs.
1. Wise Business (formerly TransferWise)
Multi-Currency Accounts: Let you hold and send money in over 50 currencies.
Real Exchange Rates: You get the mid-market rate, which you see on Google.
Integrated Tools: Includes invoicing and batch payments.
2. Payoneer
Massive Global Reach: Great for Amazon sellers, freelancers, and SaaS businesses.
Added Services: Offers working capital loans and tax tools.
Pricing: Charges a percentage of each transaction, which may not scale well for larger transfers.
3. Infinity
Infinity is an up-and-coming all-in-one financial platform tailored for Indian SMEs and startups with global ambitions. Unlike standalone remittance tools, Infinity helps businesses:
Manage global bank accounts in one dashboard.
Invest idle funds into high-yield securities.
Supports over 50+ currencies to receive your international payments,
Simplify cross-border vendor and payroll payments.
If you're looking for something beyond payments, like treasury management and global finance visibility, Infinity will be worth exploring.
Infinity: A Seamless Skydo Alternative for Better Saving
Skydo makes a strong case for itself in the world of international business payments. With clear, flat-rate pricing, instant compliance support, and a focus on user experience, it’s a great fit for Indian businesses that deal with overseas clients regularly.
Still, every business is unique. Whether you're looking for lower fees on large transfers, deeper financial tools, or broader currency support, it's smart to explore alternatives like Infinity for making a better choice.
Infinity offers a seamless international payment platform to indian businesses, freelancers, exporters, and startups for receiving their international payments. Infinity offers a user-friendly dashboard for making international transactions seamless and 24/7 customer support for any queries to make the whole process hassle-free. Let's take an example to see how Infinity helps you save better:
For a payment of USD 1000, Skydo charges $19 and a GST of 18% at the live FX rate. This would make it to INR 83,771.08 ( FX rate being 85.69).
While receiving the same amount with Infinity, you would just have to pay a 0.5% platform fee. Yes, that's it. So, a payment of USD 1000 and a 0.5% platform fee (inclusive of all) would make it to INR 85,361.05.
This means you are saving more, and this becomes significantly larger when receiving a larger amount.
So, what are you waiting for? Sign up with Infinity today and start saving more on your international payments.
FAQs
How much does Skydo charge for international payment transactions?
Skydo charges a transparent platform fee with no hidden charges and FX markup. For transactions up to USD 2000, Skydo charges $19. For transactions of USD 2,001 to 10,000, Skydo charges $29. And for transactions above USD 10,000, Skydo charges a flat 0.3% platform fee.
Does Skydo charge hidden fees or forex markup?
No, Skydo uses interbank FX rates and flat transaction fees, ensuring transparency. However, you may still save more using platforms like Infinity.
Does Skydo provide FIRA for international transactions?
Yes, Skydo provides FIRA, which is free of cost to comply with the laws.
