8 Ways to Receive Payments for Indian Freelancers in 2020| North Loop Official Blog
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18 Dec 2020

8 Ways to Receive Payments for Indian Freelancers in 2020

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Credit: North Loop

Introduction -

With more and more people leaning towards freelancing work in India and many even leaving their 9-to-5 jobs to take up online assignments and contract-based work, freelancers are in constant search of quick and reliable modes to receive payments from clients all across the globe.

That is the reason in this article we will discuss some of the best options that you can use for receiving payments for freelancing work in India and also provide you with a guide on how to receive international payments in India via these platforms.

How to get paid freelance money?

Here is a list of different options that will help you in understanding how to get paid freelance money from clients in India and abroad.

TransferWise -

TransferWise is a great freelancer payment option as it is perfect for receiving payments from clients based abroad. It not only makes it easy for you to receive your money but also allows your clients to get the exact real-time exchange rate and figure out how much they need to pay in their foreign currency to send the desired amount to you. The transaction fee is nil, and your money also gets cleared within a few hours.

North Loop -

North Loop is one of the best options for money transfer to India because of its lightning-fast transfer services and partnership with TransferWise. So if you are looking at how to receive international payments, North Loop can be a convenient option.

Unlike all other money transfer apps, it does not charge any foreign transaction fees and has no limit on the amount of transfer. Therefore, if you work as a freelancer and have clients from across the globe, you can sign up on North Loop and use its app to receive payments.

PayPal -

PayPal is another reliable freelancer payment method. If you are a freelancer, you probably already know about it because it is one of the oldest ones out there. It allows you to create custom payment links that you can share with your clients and even add in your emails or invoices. Clients can use this link to make direct payments to you.

However, despite the popularity of the PayPal freelancer account, several people have now started looking at other options because of its steep transaction fee of 10%.

If you have ever had a PayPal freelancer account, you must be aware that if a client transfers, let us say $100, through this mode, the actual amount that gets received is only $90. Therefore, even though it might be an old name in the freelancer payment and international money transfer category, you can use various other options to receive money at lower charges.

PayTM -

PayTM is also a popular option for receiving freelancer-payments but requires both you and your client to have KYC-completed PayTM accounts. However, you can also create a business account to generate customized QR codes and payment links to share with your clients and receive money in your freelancer bank account.

An important point to remember here is that PayTM only supports INR. Therefore, if you are wondering how to receive international payments in India, PayTM may not be the right option for you. Even for Indian transfers, its transaction fee of 4% does not make it suitable for receiving large payments.

Instamojo -

If you are looking for PayTM alternatives, Instamojo can be a suitable option for you. Similar to PayTM, it allows you to create customized payment links and share them with your clients. You can send this link to clients based in India who can use their debit or credit card to make instant payments to you. Instamojo also supports a large number of cards and net banking options.

Upwork -

Unlike most of the other names mentioned in the list that are transactional payment or digital banking platforms, Upwork is a global freelancing platform where businesses and independent professionals connect to conduct business.

Upwork payment methods include credit cards, PayPal and even direct bank transfer. It accepts Visa, Mastercard, American Express etc. to help clients transfer money to freelancers with ease. If you have a verified PayPal account, you can use that as an Upwork payment method on the website.

Xoom -

Xoom is an electronic funds transfer or remittance provider similar to TransferWise that you can use to receive payments from clients in the United States or Canada. However, its transaction fee is relatively higher. Now owned by PayPal, it also supports PayPal payments along with credit cards, debit cards etc.

Remitly -

Again, if international payments are what you are concerned about or if you are wondering how to receive international payments, you can go for a payment gateway like Remitly. It allows you to accept payments conveniently in 130+ banks such as SBI, ICICI, HDFC, Axis Bank, Citi Bank, PNB, and Bank of Baroda. If you are considering a freelancer bank account and want to receive payments from overseas clients, Remitly is one of the many options that you can opt.
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Conclusion -

We hope this list helped you in choosing the right platform for receiving payments for your freelancing work from clients in India and abroad.

If you want to sign up with North Loop, click here.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.