Fintechs secure PA-CB licences to drive cross-border payments

India's Fintech Ecosystem Expands Cross-Border Payments Presence

India's fintech ecosystem is rapidly deepening its presence in cross-border payments, with several start-ups and large payment gateways securing the Reserve Bank of India's (RBI) payment aggregator-cross border (PA-CB) licence and forming strategic partnerships to expand global money-movement capabilities.

Razorpay Receives RBI Licence, Expands Cross-Border Capabilities

Razorpay, a leading fintech major, has received the Reserve Bank of India's Payment Aggregator-Cross Border (PA-CB) licence, enabling it to facilitate both inward and outward cross-border transactions.

• The new authorisation expands its ability to offer compliance-aligned payment infrastructure for businesses operating across markets.
• Razorpay aims to provide financial rails that make it easy for businesses to serve customers globally, including in markets like New York and Singapore.

"A growing number of Indian businesses today are being built for global customers from day one, just as a rising wave of global companies are choosing India as one of their most important growth markets. What these businesses need are financial rails that make it just as easy to serve a customer in New York or Singapore as it is in Mumbai."

— Shashank Kumar, MD & co-founder, Razorpay

Cashfree Payments Partners with JP Morgan Payments

Cashfree Payments has announced a strategic collaboration with JP Morgan Payments, which will act as its authorised dealer category-I (AD-I) bank.

• The partnership will allow Cashfree to process import transactions under RBI regulations, strengthening its compliance and settlement infrastructure.
• JP Morgan's global rails combined with Cashfree's local stack create a foundation for international businesses to expand into India with confidence and speed.

"As India sets global benchmarks in digital payments, the next era will be defined by enabling international businesses to enter India compliantly while allowing Indian consumers to shop from global brands effortlessly."

— Akash Sinha, CEO and co-founder of Cashfree Payments

India's Cross-Border Payments Landscape Poised for Accelerated Expansion

With fintechs scaling compliant infrastructure and forming bank partnerships, India's cross-border payments landscape is poised for accelerated expansion, mirroring the broader surge in global digital commerce.

• Razorpay's PA-CB licence enables inward and outward cross-border transactions.
• Cashfree Payments' partnership with JP Morgan Payments strengthens its compliance and settlement infrastructure.
• India's fintech ecosystem is expanding its presence in cross-border payments.