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Skydo receives final RBI authorisation for cross-border payments

EntrackrEntrackr ยท 2m ago
Skydo receives final RBI authorisation for cross-border payments
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Skydo, a cross-border payments platform for exporters, has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregatorโ€“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 Indiaโ€™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.

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Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr ยท 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. 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.

Paytm gets RBI approval for offline and cross border payment aggregation

EntrackrEntrackr ยท 2m ago
Paytm gets RBI approval for offline and cross border payment aggregation
Medial

Paytm Payments Services Limited (PPSL), a wholly owned subsidiary of One 97 Communications Limited, has received authorisation from the Reserve Bank of India to operate as a payment aggregator for physical or offline payments and cross border transactions, according to a regulatory filing. The approval allows PPSL to undertake cross border payment aggregation for both inward and outward transactions. This is in addition to the online payment aggregator authorisation granted by the RBI last month. With this authorisation, PPSL now holds payment aggregator approvals across online, offline, and cross border segments. The company said the approval enables it to offer payment aggregation services across multiple use cases for merchants. Paytm had earlier applied for a payment aggregator licence, which was returned by the RBI in November 2022. The company reapplied in September 2024 and received in principle approval from the regulator in August 2025, following which the final authorisation has now been issued. Paytm becomes part of a limited set of regulated players that are authorised to support domestic and cross border payments across both online and offline merchant channels on a single compliant platform. Other companies in this group include Razorpay, Easebuzz, PayU, Pine Labs, and Airpay. The company reported revenue from operations of Rs 2,061 crore in Q2 FY26, up from Rs 1,659 crore in the year ago period. However, its net profit fell sharply to Rs 21 crore from Rs 930 crore in Q2 FY25, primarily due to the absence of a one time gain in the base quarter and an impairment loss recorded in the latest quarter.

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

EntrackrEntrackr ยท 27m 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 CREDโ€™s payment business. With this approval, the company will operate the payment system directly under the regulatorโ€™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.

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

EntrackrEntrackr ยท 29d 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 Indiaโ€“China, Indiaโ€“Hong Kong, Indiaโ€“Singapore, and Indiaโ€“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.

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