Payoneer Gets RBI Nod for Cross-Border Payment Aggregator Role in India

Bengaluru: Payoneer India Pvt Ltd, a subsidiary of Payoneer Global, has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB). 

The approval allows the company to facilitate both inward and outward cross-border transactions in India.

The authorisation marks a key step in Payoneer’s plans to expand its footprint in one of its largest markets. It enables the company to offer end-to-end cross-border payment solutions to Indian importers and exporters under the RBI’s regulatory framework.

Broader access for Indian SMBs

With the PA-CB approval, Indian small and medium-sized businesses (SMBs) will gain access to a wider set of Payoneer products. These include accounts payable features, smoother onboarding, and more streamlined Know Your Customer processes. The move is expected to make it easier for SMBs to manage international payments and work with global partners.

Strengthening regulatory presence

Payoneer said the approval also strengthens its regulatory base in India and supports its long-term growth strategy in the country.

The company currently supports customers in more than 190 countries and territories through nearly 100 banking and payment partnerships. 

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