Skydo is a fintech SaaS platform that helps Indian businesses with cross-border payments. SMEs and freelancers, Indian companies use this platform to accept international payments, considering the state of the global economy.
Skydo is a Bengaluru-based cross-border payments platform. Skydo converts the received payments to INR and transfers them to the recipient’s bank account in India. Here we will discuss what Skydo is, the benefits, the Skydo review, its drawbacks, competitors, and more.
What is Skydo?
Skydo was founded in 2022, and it is now serving 30,000+ Indian MSMEs, freelancers, and startups across India.
Skydo is a popular choice for Indian businesses receiving international payments. Skydo is faster, cheaper, and is built with full regulatory compliance.
Skydo Pricing: How Much Does It Cost?
Skydo only charges when you receive a payment through their platform.
| Payment Amount | Skydo Fees |
|---|---|
| Up to USD 2,000 | USD 19 |
| From USD 2,001 to 10,000 | USD 29 |
Effective Cost by Invoice Size
The flat-fee structure means the effective percentage cost decreases as invoice size increases. Here is a table for your reference:
| Invoice Amount | Fee Paid (excl. GST) | Fee Paid (incl. 18% GST) | Effective % Cost |
|---|---|---|---|
| $200 | $19 | $22.42 | 11.21% |
| $500 | $19 | $22.42 | 4.48% |
| $1,000 | $19 | $22.42 | 2.24% |
| $2,000 | $19 | $22.42 | 1.12% |
| $3,000 | $29 | $34.22 | 1.14% |
| $5,000 | $29 | $34.22 | 0.68% |
| $10,000 | $29 | $34.22 | 0.34% |
| $20,000 | $60 (0.3%) | $70.80 (0.354%) | 0.354% |
| $50,000 | $150 (0.3%) | $177.00 (0.354%) | 0.354% |
Skydo solve the problem of receiving international payments in India by creating virtual local receiving accounts, transparent flat-fee pricing with zero FX markup, and automated transection. Skydo genuinely differentiates itself from platforms like PayPal and Payoneer.
How Does Skydo Work?
Step 1: Sign Up and Complete KYC.
Step 2: Receive Virtual Local Receiving Accounts.
Step 3: Your Client Pays Locally.
Step 4: – Skydo Receives and Converts at Mid-Market Rate.
Step 5: INR Settles to Your Indian Bank Account.
Step 6: FIRA Issued Instantly.
Skydo is a platform dedicated to simplifying this process, providing businesses with the tools to easily receive, manage, and convert payments. It also provides an integrated invoicing, payments and accounting platform for businesses in India.
