Payments
Cashfree Payments receives Reserve Bank of India's payment license
August 6, 2024
Cashfree Payments, a payments company based in India, received a Payment Aggregator license for cross-border payments from the Reserve Bank of India. With this license, the company can offer cross-border payments for exporters, freelancers and businesses, according to a press release.
The license extends payments to 180 countries and 30 currencies through Paypal, ACH, cards and more. Cashfree Payments can help clients avoid wire transfer fees with this service.
"With the Payment Aggregator-Cross Border (PA-CB) license, we are now well-positioned to support global businesses and globally regulated entities collecting payments in India," Akash Sinha, co-foudner and CEO of Cashfree Payments, said in the release. "The license also enables us to offer Indian exporters and freelancers with cross-border payment solutions. This license will foster international trade and economic growth while building a robust cross-border payments ecosystem in India."
