Fintech startup Razorpay has received an aggregator licence for cross-border payments from the Reserve Bank, Payment Aggregator – Cross Border (PA-CB) licence. In a social media post on X, Shashank Kumar, founder of Razorpay, said that the step brings their vision of a global payments network from Asia much closer.
“We’re already the largest non-bank cross-border payments player in India powering global brands we all know…This milestone strengthens our commitment and ability to help businesses go global, faster and with far less friction.” Kumar said.
What does it mean for Razorpay?
The Razorpay founder said that with the latest licence, the Indian businesses can continue accepting payments in 130+ currencies effortlessly on the Razorpay platform.
Kumar added that with the Payment Aggregator – Cross Border (PA-CB) licence, global companies can enter India without setting up an entity, and accept local instruments like UPI on day one.
In a statement, the company said that as cross-border digital commerce becomes a core pillar of India’s growth story, Razorpay aims to be the default operating system for global money movement for Indian businesses.
Other offerings by Razorpay for global companies
Razorpay offers a single integration for global companies entering India, enabling UPI, RuPay, EMIs, net banking, and over 100 local payment methods.
With its platform, global companies can go live in India without creating a local entity. The platform supports rupee-based pricing in India, OTP-led checkout, and customer support based in India.