The partnership comes after Cashfree, which CC laima to process transactions worth $80 billion annually for over 800,000 businesses, recently became the first non-banking entity to receive the PA-CB (payment aggregator-cross border) license from the RBI for both imports and exports.

Cashfree Payments partners with JP Morgan Payments for cross-border transactions

Cashfree Partners with JP Morgan Payments for Import Transactions

Cashfree Payments has joined forces with JP Morgan Payments to streamline import transactions for businesses worldwide. This strategic partnership marks an important milestone for the Indian payments firm, with JP Morgan Payments becoming an Authorized Dealer Category-I (AD-I) bank under the Reserve Bank of India's payment aggregator regulations.

The Benefits of the Partnership

Global businesses can now enter the Indian market without establishing a local entity or dealing with manual approvals for high-value imports.
International merchants gain access to India's e-commerce opportunity with increased speed and confidence.

Cashfree's Perspective

"By combining JP Morgan Payments' global leadership with Cashfree's homegrown innovation and local insight, we are creating the foundation for international businesses to expand into India," said Akash Sinha, CEO and co-founder of Cashfree Payments.

JP Morgan Payments' View

Christine Tan, head of Financial Institutions Group Sales, Asia Pacific at JP Morgan Payments, expressed her confidence in the partnership's potential, saying it would help international merchants tap into India's e-commerce opportunity with "confidence and speed."

Cashfree's Recent Achievements

Cashfree, which processes transactions worth $80 billion annually for over 800,000 businesses, recently became the first non-banking entity to receive the PA-CB (payment aggregator-cross border) license from the RBI for both imports and exports.