Payoneer India, a fintech company, has obtained in-principle approval from the Reserve Bank of India to function as a payment aggregator for cross-border transactions, both inward and outward, as announced on Wednesday.
The firm supports customers across more than 190 countries and territories, utilizing a strong network of nearly 100 partnerships with banks and payment service providers.
“With the PA-CB authorization, we will be able to offer comprehensive solutions for cross-border payments related to both import (outward) and export (inward) transactions,” said Rohit Kulkarni, CEO of Payoneer India.
According to the statement, Payoneer operates as a regulated entity in key financial jurisdictions, including the United States, Europe, the United Kingdom, Hong Kong, Japan, Singapore, China, and Australia.
