Stripe is a leading payment processing platform, but it isn’t always the best fit for every business, particularly for international B2B transactions. Higher fees, limited currency support, and lack of certain features like direct invoicing capabilities force companies to look for stripe alternatives. 

In this article, we'll discuss the best alternatives to Stripe for international B2B payments so you can find the best fit for your business. But first, let’s discuss the major features and limitations of Stripe in India.

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Is Stripe fully functional in India?

Stripe's availability in India has undergone changes, making it imperative for businesses to explore alternatives among Stripe competitors in India. Since May 2024, Indian businesses must request an invitation to access Stripe's services, as direct sign-ups via the website are no longer an option. This shift is aimed at extending support to a select group of businesses, particularly those eyeing international expansion opportunities. 

Despite previously introducing an invite-only beta program in India, Stripe has faced regulatory and operational hurdles, hampering its growth trajectory in the country. Businesses seeking payment processing solutions may find viable alternatives among stripe competitors in India, such as Karbon, Razorpay, PayU, and CCAvenue, each offering well-established services tailored to the region's needs. To onboard onto Stripe, Indian businesses must request an invite and furnish comprehensive business information, including identification numbers and bank details. However, given Stripe's constrained availability, exploring Stripe competitors in India could prove advantageous for businesses in immediate need of fully functional payment solutions.

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Does Stripe offer international payments?

Yes, Stripe supports international business payments, enabling businesses to accept transactions from customers around the globe in various currencies. Stripe offers numerous international payment methods, including major credit and debit cards, digital wallets like Apple Pay and Google Pay, and regional options such as SEPA Direct Debit in Europe and iDEAL in the Netherlands. For businesses in India, it’s important to consider Stripe competitors in India like Razorpay, PayU, and CCAvenue, which also provide robust international payment solutions​. 

Stripe also provides tools for managing global payments, including currency conversion and adherence to international regulations. Businesses can handle transactions in multiple currencies and set up localized payment methods to better serve customers in different regions. Given the presence of Stripe competitors in India, businesses have various options for facilitating international transactions and ensuring regulatory compliance​. 

For Indian businesses, Stripe supports international payments but requires compliance with the Reserve Bank of India (RBI) regulations, including providing transaction purpose codes and adhering to export transaction limits. While Stripe offers these capabilities, exploring Stripe competitors in India can provide additional options and potentially more localized support​. 

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Is there an alternative to Stripe?

We break down the top 5 stripe competitors in India. 

#1 Karbon Business:

Features:

1. B2B Forex Payments: Karbon Business facilitates seamless foreign exchange payments for business-to-business (B2B) transactions, enabling enterprises to conduct international business operations efficiently and securely.
2. International Payment Processing: With Karbon Business, enterprises gain access to robust international payment processing capabilities, allowing them to accept payments from customers worldwide and expand their global reach.
3. Corporate Credits: The platform offers corporate credit solutions, empowering businesses with flexible financing options to manage cash flow, make purchases, and invest in growth opportunities.

Advantages:

1. Tailored for SMEs and Large Enterprises: Karbon Business caters to the needs of both SMEs and large enterprises, offering scalable solutions that align with the specific requirements of businesses across different sizes and industries.
2. User-Friendly Interface: The platform boasts a user-friendly interface designed for ease of navigation and intuitive usage, ensuring that businesses can quickly adapt to and leverage its features without extensive training or technical expertise.
3. Strong Customer Support: Karbon Business provides robust customer support services, offering assistance and guidance to users whenever needed to address queries, resolve issues, and optimize their experience on the platform.
4. Integration with Indian and US Banking Systems: Karbon Business seamlessly integrates with prominent banking systems in both India and the United States, including JP Morgan, Yes Bank, and IDFC Bank. This integration enhances convenience and accessibility for businesses operating within these regions, facilitating smoother financial transactions and operations.

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#2 PayPal 

Paypal distinguishes itself within the online payment processing landscape through its rich array of features and benefits:

Features:

1. Comprehensive International Payment Support: PayPal enables businesses to accept payments from customers worldwide, accommodating various currencies and facilitating transactions across borders.
2. Robust Security Measures: Prioritizing the safety of transactions, PayPal employs cutting-edge encryption and fraud detection technologies to protect sensitive financial data.
3. Invoicing Functionality: Businesses can effortlessly create and dispatch invoices to clients via PayPal, streamlining the billing process and ensuring efficient payment tracking.
4. Subscription Billing Solutions: PayPal offers services for managing subscription-based payments, empowering businesses to establish recurring billing cycles for products or services, thereby enhancing revenue predictability and customer retention.

Advantages:

1. Global Trust and Recognition: PayPal enjoys widespread recognition and trust as a reputable brand in the online payment realm, instilling confidence in both businesses and consumers alike.
2. Seamless Integration Across Business Sizes: PayPal provides user-friendly integration options, enabling businesses of all scales to easily incorporate its payment solutions into their websites or applications.
3. Diverse Payment Method Support: PayPal caters to a broad spectrum of customer preferences by accepting various payment methods, including credit/debit cards, bank transfers, and PayPal balances.

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#3 Square:

The features and advantages highlighted pertain to a versatile payment processing solution suitable for businesses of various sizes:

Features:

1. Comprehensive Point-of-Sale (POS) Solutions: This encompasses a range of tools and functionalities designed to streamline transactions at physical retail locations, including inventory management, sales tracking, and customer relationship management (CRM) capabilities.
2. Online Payment Processing: The platform enables businesses to accept payments securely over the Internet, supporting various payment methods such as credit/debit cards, digital wallets, and bank transfers.
3. Invoicing: Businesses can generate and send invoices to clients or customers directly from the platform, simplifying the billing process and ensuring prompt payment.
4. E-commerce Integration: The solution seamlessly integrates with e-commerce platforms, enabling businesses to accept online payments through their websites or online stores.

Advantages:

1. User-Friendly Interface: The platform boasts an intuitive and easy-to-use interface, making it accessible to users with varying levels of technical expertise. This simplicity enhances efficiency and reduces the learning curve for businesses implementing the solution.
2. Ideal for Small to Medium-Sized Businesses (SMBs): With its comprehensive yet scalable features, the solution caters effectively to the needs of small and medium-sized businesses, providing them with the tools necessary to manage transactions, both online and offline, without overwhelming complexity or excessive costs.
3. Strong Retail Support: The solution offers robust support for retail businesses, facilitating smooth and efficient operations at physical storefronts. From processing transactions to managing inventory and analyzing sales data, the platform provides the necessary tools to optimize retail performance and customer service.

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#4 Razorpay:

This payment solution emerges as a strong contender among stripe competitors india, boasting tailored features and advantages specifically catered to the Indian market:

Features:

1. Tailored for the Indian Market: This solution is strategically crafted to address the unique needs and preferences of businesses operating within India, setting it apart from other stripe competitors india.
2. Supports Various Local Payment Methods: With a keen focus on the Indian market, the platform accommodates an extensive array of local payment methods, distinguishing itself among stripe competitors india.
3. Offers Subscription Billing: In line with the demands of the Indian business landscape, the solution facilitates seamless subscription billing, providing a competitive edge among stripe competitors india.
4. Instant Settlements: The platform's capability for instant settlements further solidifies its position among stripe competitors india, offering businesses swift access to their funds for enhanced financial agility.

Advantages:

1. Seamless Integration with Indian Banking Systems: Its seamless integration with prominent Indian banking systems strengthens its appeal among stripe competitors india, ensuring smooth and efficient transactions.
2. Intuitive Dashboard: The platform's intuitive dashboard enhances user experience, distinguishing it as a frontrunner among stripe competitors in India by providing businesses with easy access to essential tools and insights.
3. Competitive Pricing for Indian Businesses: Its competitive pricing tailored for the Indian market makes it an attractive option among stripe competitors India, catering to businesses of all sizes and budgets.

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#5 PayU:

This payment solution emerges as a strong contender among stripe competitors in India, boasting a range of features and advantages tailored to meet the needs of businesses in the Indian market:

Features:

1. Supports a Variety of Payment Methods: This platform stands out among stripe competitors India by offering support for a diverse array of payment methods, catering to the preferences of Indian consumers and businesses.
2. Easy Website and App Integration: Businesses can seamlessly integrate the payment solution into their websites and mobile applications, distinguishing it among stripe competitors India for its user-friendly integration process.
3. Recurring Billing Options: With its ability to facilitate recurring billing for subscription-based services or products, this solution holds a competitive edge among stripe competitors India, providing businesses with flexibility and convenience.

Advantages:

1. Strong Presence in Emerging Markets, Including India: As a leading player in emerging markets like India, this payment solution offers tailored solutions specifically designed to address the unique needs of businesses in these regions, setting it apart from other stripe competitors in India.
2. Solutions Tailored for Diverse Business Needs: With solutions tailored to cater to businesses of all sizes and industries, this platform appeals to a wide range of businesses in India, making it a standout choice among stripe competitors in India for its versatility and adaptability.

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Each of these Stripe competitors in India offers unique benefits and features, making them suitable for various business needs depending on specific requirements and market focus. Exploring these Stripe competitors in India can help businesses find the most suitable payment processing solution tailored to their specific needs​. 

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Why Karbon is the Right Fit for Indian Businesses

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Karbon Forex is tailored to solve unique aspects of Indian business functions regarding international payments. Unlike Stripe, which focuses on global e-commerce needs, Karbon aims to make B2B cross-border transactions smoother and easier, enabling businesses to operate smoothly without being stuck in issues traditional banking systems usually impose.

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For Indian businesses looking at simplifying cross-border payments, Karbon Forex is a safe and cost-effective alternative to Stripe.

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FAQ

Can Stripe India accept international payments?

Yes, Stripe India facilitates the acceptance of international payments for businesses. Stripe offers support for a wide array of payment methods, including credit and debit cards, digital wallets, and bank transfers, ensuring convenient transactions for international clientele engaging with Indian businesses. 

Do I have to utilize multiple platforms for multiple business needs?

Many businesses use more than one platform to meet unique needs, for example, Payoneer can be applied for small personal payments while Karbon is apt for high-volume enterprise transactions.

Are Stripe competitors a good fit for small businesses?

Yes, Karbon, Wise, and PayPal Business are platforms targeted at small businesses. In addition, they supply basic features such as invoicing, low fees, and easy account opening.

What is the best Stripe alternative for multi-currency transactions?

Karbon, Wise, and Payoneer are great for doing multi-currency transactions. They support multiple currencies, making them perfect for multi-national businesses.

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