PayPal Gets Approval to Facilitate Cross-Border Payments in India

PayPal has received an in-principle approval to become a cross-border payments aggregator in India, one of the world’s largest markets.

In recent years, the Reserve Bank of India (RBI) has tightened regulations for cross-border payments, requiring companies to obtain a payment aggregator cross-border (PA-CB) license. Due to these stringent guidelines, only a select few organizations, including Adyen, Amazon Pay, BillDesk, and Cashfree Payments, were previously permitted. Earlier this year, India’s Skydo was also added to the list.