Payoneer India Secures Key RBI Approval for Cross-Border Payments

Payoneer India has received in-principle approval from the RBI to function as a payment aggregator-cross border. This development allows Payoneer to offer cross-border payment solutions for both import and export transactions. With global operations, Payoneer strengthens its position in international financial services.

Fintech firm Payoneer India has achieved a significant milestone by securing in-principle approval from the Reserve Bank of India to operate as a payment aggregator-cross border (PA-CB), the company announced on Wednesday.

Payoneer is poised to enhance its offerings, providing comprehensive cross-border payment solutions for imports and exports. The firm serves customers in more than 190 countries and territories, supported by a robust network of almost 100 banking and payment service provider partnerships.

According to Payoneer India CEO Rohit Kulkarni, this authorization marks an important step in bolstering their cross-border payment capabilities. Leveraging its regulated operations in major financial jurisdictions, including the US, Europe, and Asia, Payoneer is positioned to strengthen its role in global financial services.