airpay receives RBI nod for cross-border payment aggregator licence

airpay Payment Services has received approval from the Reserve Bank of India to operate as a cross-border payment aggregator. 

This means it has now completed all the required licences under the RBI’s unified payment aggregator framework.

With this approval, the Mumbai-based company can now operate in online, offline, and cross-border payment categories (PA-O, PA-P, and PA-CB). This puts it among the few full-stack payment aggregators that offer complete end-to-end services.

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The company said the approval will help it grow faster in both domestic and international payments. airpay expects its processing volumes to increase by 30–40% in the next six to 12 months, with cross-border payments making up more than 20% of its revenue. It also plans to add over 50,000 merchants as it expands into enterprise, SME, and direct-to-consumer segments.

“Indian business growth is no longer domestic-only. Our exporters, SaaS firms, digital merchants and local retailers are all engaging globally, and they need reliability, compliance and speed in payments,” said Kunal Jhunjhunwala, Founder of airpay Payment Services, noting that RBI’s approval strengthens the firm’s ability to support this demand “responsibly and at scale.”

The RBI’s cross-border payment aggregator framework places international payment services under direct regulation, focusing on stronger governance, escrow rules and compliance with foreign-exchange laws. According to industry experts, these rules reduce the compliance load for merchants, offer clearer visibility on settlements, and help lower risks linked to cross-border transactions.

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The approval comes at a time when more Indian companies are going global. Export-focused MSMEs, subscription-based services, and D2C brands are expanding across Europe, the Middle East, and Southeast Asia, while cross-border eCommerce continues to grow.

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