Razorpay Fortifies Global Ambitions by Securing RBI’s Crucial Cross-Border Payment Aggregator License
What is the news?
Razorpay, a unicorn and leader in India’s digital payments landscape, has received the pivotal Payment Aggregator Cross-Border (PA-CB) license from the Reserve Bank of India (RBI). This achievement is a significant win for its founders Harshil Mathur and Shashank Kumar, and it critically enhances the company’s ability to facilitate both inward and outward international transactions. The authorization provides a massive boost to the country’s burgeoning exporter, SaaS, and freelance economy, instantly connecting thousands of Indian businesses to customers across the globe while providing a crucial, regulated framework for cross-border financial flows.
Why is it interesting?
Razorpay’s existing international payments stack already serves major global entities like Airbnb and Shopify, offering a high transaction success rate in over 130 currencies. By formalizing this capability through the new license, the platform deepens its commitment to the founders community and establishes India as a robust hub for creating world-class Fintech infrastructure. Furthermore, it simplifies entry for global companies looking to operate in India, providing a single integration point for local payment methods like UPI and RuPay without requiring a separate local entity.
The acquisition of the PA-CB license underscores the company’s aggressive Expansion & Growth strategy in the global market. With its cross-border business already growing at 40% year-on-year, this regulatory approval will accelerate its trajectory.
Read more: Razorpay secures RBI’s cross border license