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EximPe secures RBI PA-CB in-principle licence

EntrackrEntrackr ยท 4m 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 Indiaโ€™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 companyโ€™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. โ€œWith 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,โ€ 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.

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Ahead of IPO, PayU receives final Payment Aggregator license

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Ahead of IPO, PayU receives final Payment Aggregator license
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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. โ€œAs we move forward, we remain dedicated to building a resilient, compliant, inclusive, and innovation-driven institutionโ€”one that serves merchants of all sizes and contributes meaningfully to the Digital India vision of the RBI and the Government,โ€ 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 organizationโ€™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 Indiaโ€™s real-time payments space and leveraging Mindgateโ€™s expertise to drive digital payment innovation globally. Several other startups have secured authorization from the RBI as payment aggregators. MobiKwikโ€™s subsidiary Zaakpay and PB Fintechโ€™s subsidiary PB Pay received in-principle approval, and BharatPeโ€™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.

airpay secures all three RBI payment-aggregator licences

EntrackrEntrackr ยท -4100s ago
airpay secures all three RBI payment-aggregator licences
Medial

airpay secures all three RBI payment-aggregator licences Mumbai-based airpay Payment Services has received authorisation from the Reserve Bank of India (RBI) to operate across the full payment-aggregator framework, completing approvals for online (PA-O), physical/POS and QR (PA-P), and cross-border (PA-CB) services. With this, airpay now joins a small group of regulated players that can handle domestic and international payments across online and offline merchant touchpoints on a single compliant stack. The recent list includes Razorpay, Easebuzz, PayU and Pine Labs. The company said the approvals will allow it to offer collections, payouts and settlements for Indian enterprises, D2C brands and SMEs selling both within India and overseas. airpay expects the expanded licence set to drive a 30โ€“40% increase in processing volumes over the next 6โ€“12 months. It is also projecting over 20% of its revenue to come from cross-border flows in this period, alongside the onboarding of more than 50,000 merchants. Founded in 2012, airpay operates in UPI acquiring, QR, payment links, PoS and merchant lifecycle management. With all three licences in place, the company is now positioned to support online, offline and cross-border commerce from a single regulated infrastructure as Indian businesses expand beyond domestic markets. This is expected to reduce settlement risk and compliance overhead for exporters, SaaS firms, subscription businesses and D2C brands targeting markets in Europe, the Middle East, and Southeast Asia. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

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