Fintech firm Razorpay announced on Tuesday that it has received the Payment Aggregator Cross Border licence from the Reserve Bank of India. This licence places Razorpay among a small group of fintech companies that can legally manage both inward and outward cross border transactions under full regulatory oversight.
The licence strengthens the company’s existing payments infrastructure. This infrastructure is already used by exporters, SaaS firms, freelancers, direct to consumer brands and global companies entering India. Several international brands such as Airbnb, Agoda, Klook, Shopify and Hostinger use Razorpay for their payment needs.
Shashank Kumar, managing director and co founder of Razorpay, said, “At Razorpay, we have always seen ourselves as a money movement platform for businesses, not just a payments company. With Razorpay International Payments, we are 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.”
What Razorpay international payments offers
Razorpay states that its international payments platform is designed for the fast and digital first movement of money.
Indian companies can accept payments in more than one hundred thirty currencies through cards, wallets and local bank transfers. The platform uses optimised payment flows to achieve high success rates of up to ninety five per cent on international transactions.
International platforms can start operating in India immediately without creating a local entity. They can offer UPI, RuPay, EMIs, netbanking and more than one hundred local payment methods through a single integration. The system supports INR based pricing, OTP led checkout and India based customer support.
The company says that by combining payments, compliance and financial infrastructure, it is creating a strong base that will help Indian companies reach customers across the world.
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