Cashfree Payments Secures RBI License for Cross-Border Payments The company's International Payment Gateway allows merchants to accept payments from 180 countries in 30 currencies through various methods, including cards, PayPal, ACH, and local payment systems.
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Payments and API banking platform Cashfree Payments announced that it has received the Reserve Bank of India's Payment Aggregator license for cross-border payments, for both imports and exports.
This new license permits Cashfree to extend its cross-border payment solutions to Indian exporters, freelancers, global businesses, regulated entities, etc. to enable them to collect and make payments.
Akash Sinha, Co-founder and CEO of Cashfree Payments, said, "With the Payment Aggregator-Cross Border (PA-CB) license, we are now well-positioned to support global businesses and globally regulated entities collecting payments in India. The license also enables us to offer Indian exporters and freelancers cross-border payment solutions. This license will foster international trade and economic growth while building a robust cross-border payment ecosystem in India."
The company's International Payment Gateway allows merchants to accept payments from 180 countries in 30 currencies through various methods, including cards, PayPal, ACH, and local payment systems. This solution eliminates the need for costly wire transfers and facilitates easier collection of payments from Indian consumers via UPI, bank transfers, and cards.
The company claims that it processes transactions worth over USD 80 billion annually and serves more than 600,000 businesses with its digital payment solutions. Known for its tech-first offerings, Cashfree Payments has introduced products like FlowWise for payment orchestration, KYC Link, Risk Shield for fraud monitoring, and more. The company is also expanding its international footprint in the UAE through its acquired partner, Telr.
