RBI gave the fintech company approval to act as cross-border payment aggregator
Company expects launch to accelerate scale, projecting a 30–40 per cent rise in processing volumes over the next 6-12 months
Airpay Payment Gets RBI Nod To Operate As Cross-border Payment Aggregator
The fintech company secured approval from the Reserve Bank of India to operate as cross-border aggregator. Airpay Payment Services anticipates over 20 per cent revenue contribution from cross-border flows
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Airpay Payment Services on Tuesday said it has secured approval from the Reserve Bank of India to operate as a cross-border payment aggregator, completing its authorisations under the unified payment aggregator (PA) framework.
With this, the company is licensed to operate as a payment aggregator across online, physical and cross-border categories, a company statement said.
The milestone positions airpay as a homegrown full-stack payments infrastructure provider for Indian enterprises, D2C brands and SMEs for both domestic and global markets, it added.
The company expects the launch to accelerate scale, projecting a 30–40% rise in processing volumes over the next 6-12 months and anticipating 20%-plus revenue contribution from cross-border flows alongside onboarding over 50,000 merchants in the same period.
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