Razorpay revealed that it has been granted the Payment Aggregator – Cross Border (PA-CB) license by the Reserve Bank of India, significantly enhancing India's global payments infrastructure. This endorsement elevates Razorpay to a small number of fintech companies approved to oversee cross-border transactions in both directions with full regulatory supervision.

According to reports, obtaining the license further solidifies Razorpay's standing as a reliable financial infrastructure in India that prioritizes compliance and supports international money transfers.

Also Read: Tech Mahindra Partners with Crosscall

The platform is already being used by exporters, SaaS companies, freelancers, direct-to-consumer brands, and multinational corporations in India. Razorpay stated that its improved cross-border platform is relied upon by well-known international companies like Airbnb, Agoda, Klook, Shopify, and Hostinger, indicating its large scope and dependability.

Shashank Kumar, one of the Co-founders and the Managing Director of Razorpay, mentioned that the licensing comes at a point when Indian businesses are being established with a focus on global markets from the very beginning.

Also Read: HYDGEN Raises $ 5 Million to Make Cost-Efficient Hydrogen

“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,” he notes.

“With Razorpay International Payments, we’re taking the complexity out of cross-border payments… Receiving the PA-CB licence reinforces our deep focus on compliance and our commitment to helping Indian businesses participate in the global economy with confidence.”

He added, "With Razorpay International Payments, we're taking the complexity out of cross-border payments and creating one trusted solution for ambitious businesses on both sides. Further, receiving the PA-CB licence reinforces our deep focus on compliance, our partnerships with banks and regulators, and our commitment to helping Indian businesses participate in the global economy with confidence”.

Also Read: Airtel, Jio Set to Unlock New Value With 5G, Digital Services

Razorpay International Payments is created to mirror the flow of money in a global economy that prioritizes digital transactions. Indian businesses have the option to receive payments in more than 130 currencies through various popular methods such as cards, wallets, and local bank transfers when it comes to exports. The streamlined processes ensure a high success rate of 95 percent for international transactions.

Global platforms can start operating in India for imports without the need to establish a physical presence in the country. They can provide various payment options such as UPI, RuPay, EMIs, netbanking, and other local methods through a single integration. The pricing will be in Indian Rupees, and the checkout process will be facilitated by OTP. Additionally, customer support will be based in India.

Founded in 2014, Razorpay offers technological payment services to companies. The company was established by former students of IIT Roorkee, Shashank Kumar and Harshil Mathur.