Payoneer receives In-Principle authorisation as cross-border payment aggregator in India

BANGALORE: Payoneer India Pvt Ltd, a subsidiary of financial technology firm Payoneer Global Inc. was granted In-Principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Cross Border (PA-CB) for facilitating Inward and Outward transactions. This will enable Payoneer to expand its operations in India.

Rohit Kulkarni, CEO, Payoneer India, said in a statement, “Our in-principle authorisation from the Reserve Bank of India is a testament to our more than decade-long presence in the local market and support of India’s thriving export economy, which is projected by the India Department of Commerce to exceed $850 billion in 2026. With the PA-CB authorisation, we will be equipped to provide comprehensive cross-border payment solutions for both import (Outward) and export (Inward) transactions, helping Indian businesses tap into new opportunities and scale globally.”

Payoneer supports customers in over 190 countries and territories, with a network of nearly 100 banking and payment service provider partnerships. Payoneer operates as a regulated entity across major financial jurisdictions, including the United States, Europe, the United Kingdom, Hong Kong, Japan, Singapore, China and Australia, enabling SMBs, enterprises, and marketplaces to securely transact globally.