Razorpay gets RBI nod for cross-border payment aggregation

Razorpay Receives Reserve Bank of India's Payment Aggregator-Cross Border Licence

Key Highlights:

• Razorpay has been granted the Reserve Bank of India's Payment Aggregator-Cross Border (PA-CB) licence.
• The licence enables Razorpay to facilitate both inward and outward cross-border transactions.

What This Means for Businesses:

Razorpay's new authorisation expands its ability to offer compliance-aligned payment infrastructure for businesses operating across markets. The cross-border stack is used by global and domestic firms across sectors, including exporters, SaaS companies, freelancers, and digital commerce brands.

Quote from Shashank Kumar, MD & Co-founder, Razorpay:

"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."

Benefits of the PA-CB Licence:

• The licence allows Razorpay to support international collections in over 130 currencies.
• It enables onboarding of global platforms looking to offer UPI, RuPay, EMIs, netbanking, and other India-specific payment methods without requiring a local entity.

Regulatory Conditions:

The PA-CB licence comes with strict regulatory conditions, including:

• Meeting RBI-mandated net-worth requirements.
• Maintaining separate accounts with authorised dealer banks for import and export flows.
• Following detailed KYC, anti-money laundering, and transaction-monitoring rules.
• Ensuring full FEMA compliance and periodic audits.

Compliance and Security:

Razorpay's offering supports card, wallet, and bank-transfer-based payments for Indian exporters, providing a single-integration flow for foreign firms entering India's digital market.