Payoneer gets in-principle nod from RBI to operate as cross-border payment aggregator

Fintech firm Payoneer India has received in-principle approval from the Reserve Bank of India to operate as a payment aggregator-cross border (PA-CB) for facilitating inward and outward transactions, the company said on Wednesday.

Payoneer supports customers in over 190 countries and territories, leveraging a robust network of nearly 100 banking and payment service provider partnerships.

”With the PA-CB authorisation, we will be equipped to provide comprehensive cross-border payment solutions for both import (outward) and export (inward) transactions,” Payoneer India CEO Rohit Kulkarni said.

Payoneer operates as a regulated entity across major financial jurisdictions, including the United States, Europe, the United Kingdom, Hong Kong, Japan, Singapore, China, and Australia, the statement said.