RBI Grants Final Authorisation to Skydo for Cross-Border Payment Operations

The Reserve Bank of India (RBI) granted Skydo, a cross-border payments technology, a full licence on 9 January to operate as a Payment Aggregator-Cross Border (PA-CB). The Bengaluru-based payments company said it will broaden its product offerings and increase coverage in more trade corridors with the full licence. Skydo can process cross-border payments, particularly to facilitate inbound transactions, thanks to its PA-CB-I licence.

According to a statement from the company, Skydo has launched a number of first-to-market products for India's expanding MSME export industry, including the ability to accept local payments in challenging regions like Africa. The approval coincides with the acquisition of cross-border licences by numerous domestic payment aggregators, including both online and offline entities.

Skydo Operations in India and Expansion Plans

The company says it supports collections in more than 32 currencies and serves over 30,000 Indian entrepreneurs, freelancers, and MSMEs in more than 50 cities. After raising $10 million in a Series A fundraising round headed by Susquehanna Asia Venture Capital in December 2025, with participation from current investor Elevation Capital, the company is now moving to the United States.

According to Movin Jain, co-founder of Skydo, the RBI has made it possible for businesses like Skydo to develop highly contextual products for Indian exporters by bringing cross-border payments under the payment aggregator framework. The business can successfully manage the risk of money laundering and financial crime as a regulated firm, which gives it considerably more control over the client journey and service levels.

RBI Grants Razorpay Cross-Border Licence

Razorpay for Businesses, a payments and banking platform, announced on 2 December that it has obtained a Payment Aggregator-Cross Border (PA-CB) licence from the Reserve Bank of India (RBI). According to a business release, Razorpay is now one of a small group of fintech companies that are allowed to process cross-border payments, both inbound and outward, under strict regulatory supervision.

According to the statement, Razorpay's new licence solidifies its status as one of India's most reliable and forward-thinking infrastructures for international money transfers, supporting a wide range of enterprises, including high-growth exporters, SaaS firms, freelancers, D2C brands, and international companies joining India's digital economy. The approval gives Razorpay, which already operates on a large scale and is trusted by top global players like Airbnb, Agoda, Klook, Shopify, and Hostinger, among others, "regulatory depth" to its stack.