🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Skydo receives final RBI authorisation for cross-border payments

EntrackrEntrackr · 2m ago
Skydo receives final RBI authorisation for cross-border payments
Medial

Skydo, a cross-border payments platform for exporters, has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB). The Bengaluru-based platform had received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity back in Jan. last year. It has also secured Payment Service Provider (PSP) approval from Amazon, enabling it to process payments for exporters participating in Amazon's Global Selling program. According to Skydo, it is among the first Cross-Border fintechs to secure this license, strengthening it aims to build transparent and seamless payment infrastructure for Indian MSMEs to grow globally. With the final PA-CB authorisation in place, Skydo will continue to deepen its product offerings and expand coverage across additional trade corridors. Skydo has introduced several first-to-market offerings for India’s growing MSME export sector, including seamless local payment acceptance in difficult corridors like Africa, and a suite of value-added services like Invoicing, Analytics and Payment Reminders. Co-founded in 2022 by Srivatsan Sridhar and Movin Jain, Skydo is a cross-border payments platform that simplifies global money movement for businesses. Its unified stack spans global collections, payouts, card acceptance, compliance automation, and developer-first APIs. The platform enables exporters to collect locally from international clients, with transparent flat-fee pricing, no markup on live mid-market FX rates, and fast settlements. Skydo provides instant access to compliance documents like FIRC through deep integration with partner banks, and offers a full suite of Accounts-Receivable tools like invoicing, payment reminders and ledgering, and integration with ERP / Accounting. The platform asserts that it serves more than 30,000 Indian MSMEs, freelancers, and startups across over 50 cities, supporting collections in more than 32 currencies.

Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr · 10m ago
Ahead of IPO, PayU receives final Payment Aggregator license
Medial

Ahead of IPO, PayU receives final Payment Aggregator license PayU has received final authorization from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator. This allows the fintech firm to onboard new merchants onto its platform. In April 2024, PayU received in-principle approval from the RBI to operate as a payment aggregator. “As we move forward, we remain dedicated to building a resilient, compliant, inclusive, and innovation-driven institution—one that serves merchants of all sizes and contributes meaningfully to the Digital India vision of the RBI and the Government,” said a PayU spokesperson. The development comes at a time when PayU is planning for its IPO, eyeing a public listing during the second half of 2025. The company also appointed Pramod Rao as its Chief Risk Officer, who will oversee risk management, regulatory compliance, and strengthen the organization’s financial and operational risk framework. PayU has acquired a 43.5% stake in real-time payments technology firm Mindgate Solutions, enhancing its footprint in India’s real-time payments space and leveraging Mindgate’s expertise to drive digital payment innovation globally. Several other startups have secured authorization from the RBI as payment aggregators. MobiKwik’s subsidiary Zaakpay and PB Fintech’s subsidiary PB Pay received in-principle approval, and BharatPe’s Resilient Payments was granted final approval. Earlier this year, cross-border payments company Skydo received in-principle authorization from the RBI to operate as a Payment Aggregator-Cross Border (PA-CB) entity.

CRED receives final authorisation from RBI to operate as a payment aggregator

EntrackrEntrackr · 1d ago
CRED receives final authorisation from RBI to operate as a payment aggregator
Medial

CRED receives final authorisation from RBI to operate as a payment aggregator Reserve Bank of India has granted final authorisation to CRED to operate as a Payment Aggregator (PA). The approval allows the company to onboard merchants, process payments on their behalf and manage settlements and refunds across payment instruments. The authorisation has been granted to Dreamplug Paytech Solutions Private Limited, the entity operating CRED’s payment business. With this approval, the company will operate the payment system directly under the regulator’s supervision. The final authorisation comes nearly two years after the in-principle approval granted by the RBI. CRED and its subsidiaries now hold multiple regulatory licences. These include a Prepaid Payment Instrument (PPI) licence from the RBI, a corporate agency licence from the Insurance Regulatory and Development Authority of India, a registered investment advisor licence from the Securities and Exchange Board of India, and a TPAP licence from the National Payments Corporation of India. During FY25, CRED processed payments worth over Rs 8.5 lakh crore on behalf of more than 1.5 crore users. The company says more than one-third of credit card bill payments in India are currently made through its platform. Founded by Kunal Shah, CRED enables users to manage credit card payments, track credit scores, and monitor financial activity across accounts through its platform.

Cross-border fintech startup Xflow raises $16.6 Mn led by General Catalyst

EntrackrEntrackr · 16d ago
Cross-border fintech startup Xflow raises $16.6 Mn led by General Catalyst
Medial

B2B cross-border payments startup Xflow has raised $16.6 million in a Series A round at a valuation of $85 million. The round was led by General Catalyst, with participation from existing investors Square Peg, Stripe, Lightspeed, and Moore Capital. PayPal Ventures joined the round as a new investor. The company has also received final PA-CB authorisation for both exports and imports. The Bengaluru-based startup has raised $32 million to date, including a $10.2 million pre-Series A round in May 2023. The fresh capital will be used to scale operations and expand into new geographies, the company said in a press release. Co-founded by Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, Xflow is a fintech company that provides cross-border payment solutions for SMEs, including ITES firms and funded startups. It focuses on improving efficiency and compliance in international transactions for businesses ranging from freelancers and startups to larger enterprises. The PA-CB Imports licence allows Xflow to serve overseas merchants and payment aggregators, while the PA-CB Exports licence strengthens its existing offerings. The company said it expanded its product footprint and customer base in 2025, growing to nearly 15,000 users across SaaS companies, GCCs, IT service exporters, and goods exporters. It also provides international payments infrastructure to fintech companies such as Drip Capital and Easebuzz. In 2025, Xflow enabled Indian businesses to collect payments from over 100 countries across more than 25 currencies. The company said its FX AI Analyst helps businesses make data-driven treasury decisions and improve foreign exchange outcomes. Xflow currently services over 10,000 businesses and has processed hundreds of millions of dollars in transactions.

EximPe gets final PA-CB licence to process UPI cross-border payments

EntrackrEntrackr · 1m ago
EximPe gets final PA-CB licence to process UPI cross-border payments
Medial

EximPe, a cross-border payment startup, has received final authorisation from the Reserve Bank of India for the Payment Aggregator Cross Border (PA-CB) licence. The approval allows EximPe to enable global merchants to collect payments from Indian customers through UPI and other local payment methods, with settlements into offshore accounts. With the PA-CB licence, EximPe can allow international merchants and payment platforms to collect via UPI, cards, wallets, net banking, and bank transfers from India without setting up a local Indian entity. The company said this will help improve payment success rates and reduce friction for cross-border collections. Prior to receiving the licence, EximPe operated as a technology service provider to banking partners and has facilitated over $500 million in bank-led cross-border trade payments across Asia corridors. The company has now transitioned to operating directly as a cross-border payment aggregator under the RBI framework. According to EximPe, it aims to process $1 billion in annualised UPI-led cross-border transactions over the next 24 months. Founded by Arjun Zacharia, EximPe operates across corridors such as India–China, India–Hong Kong, India–Singapore, and India–ASEAN, and focuses on enabling compliant, UPI-led cross-border payment infrastructure for global businesses. EximPe has raised $3.5 million in seed funding led by Leo Capital, with participation from Beta Lab, RB Investments, along with several angel investors. In recent months, RBI approved online, offline and cross border payment aggregation for around half a dozen companies. These include Razorpay POS, Paytm, Razorpay, Easebuzz, PayU, Pine Labs and Airpay. With these clearances, the firms are authorised to offer a full stack of payment aggregator services across ecommerce transactions, in store merchant payments and cross border payment flows.

EximPe secures RBI PA-CB in-principle licence

EntrackrEntrackr · 8m ago
EximPe secures RBI PA-CB in-principle licence
Medial

Snippets EximPe secures RBI PA-CB in-principle licence EximPe, a cross-border payment startup, has secured the Reserve Bank of India’s (RBI) Payment Aggregator Cross-Border (PA-CB) In-Principle licence (export and import). According to EximPe, this makes the company one of the first to receive this new regulatory authorization without any existing payments licences. With this licence, it plans to enable compliant cross-border pay-ins and pay-outs for digital services, e-commerce, and B2B goods trade, serving businesses across Asian emerging markets. The PA-CB licence will significantly enhance the company’s ability to facilitate seamless cross-border payments and simplify compliance for businesses engaged in international trade. The licence will enable the startup to transition from a technology platform enabling cross border payments to being able to provide a fully regulated cross border infra play. Founded in 2021 by Arjun Zacharia, EximPe is an all-in-one platform that provides real time rate booking, compliance, and trade documentation for businesses. The company serves a range of businesses who trade or sell services globally. The Mumbai-based company had previously raised $3.5 million in Series A round from Leo Capital and others. “With this licence, EximPe is uniquely positioned to support businesses in expanding in the highest growth global corridor between India-Asia, while simplifying complex regulatory and financial requirements. With the PA-CB licence, we want to expand our business by 10X by the end of FY 2026,” said Arjun Zacharia, CEO and founder of EximPe. The platform claims to have already processed over $450 million in transactions and serves more than 5,000 SMEs, manufacturers, and service providers. It aims to further strengthen its position as a leading cross-border payment infrastructure provider by expanding its capabilities with this new licence.

Download the medial app to read full posts, comements and news.