Razorpay gets RBI nod for cross-border payment aggregation

Razorpay gets RBI nod for cross-border payment aggregation

Fintech firm Razorpay 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 itsrazorpay's ability to offer compliance-aligned payment infrastructure for businesses operating across markets, the firm said in a statement on December 2.

Razorpay said its cross-border stack is used by global and domestic firms across sectors, including exporters, SaaS companies, freelancers and digital commerce brands.

“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, said.

The licence allows the company to support international collections in over 130 currencies and onboard global platforms looking to offer UPI, RuPay, EMIs, netbanking and other India-specific payment methods without requiring a local entity.

The PA-CB licence comes with strict regulatory conditions. Entities must meet RBI-mandated net-worth requirements, maintain separate accounts with authorised dealer banks for import and export flows, and follow detailed KYC, anti-money laundering and transaction-monitoring rules. They are also required to ensure full FEMA compliance and periodic audits.

"Our offering supports card, wallet and bank-transfer-based payments for Indian exporters and provides a single-integration flow for foreign firms entering India’s digital market, " the statement said.