Payments company, PayPal Payments Pvt Ltd (PayPal), the Indian subsidiary of American multinational financial tech PayPal Holdings Inc, has received the go-ahead from the Reserve Bank of India (RBI) to operate as payments aggregator for cross-border exports. A company statement said the development marks a milestone in the company’s India operations as it continues to support small businesses, large enterprises, and freelancers in approximately 200 markets.
The RBI’s in-principle approval to PayPal to operate as a Payment Aggregator–Cross Border–Exports (PA-CB-E) comes at a time when India’s exports have reached USD 73.8 billion this April, underscoring the increasing momentum in cross-border trade.
“The in-principle PA-CB-E approval by RBI reflects the strength of India’s regulatory vision and the progress toward seamless, secure cross-border transactions. As India grows into a global export hub, PayPal remains committed to empowering Indian businesses with trusted digital payment solutions,” said Nath Parameshwaran, senior director, Government Relations at PayPal India.
PayPal’s local services include PayPal Checkout, PayPal Invoicing and No-Code checkout tools. With plans to simplify global selling for small Indian businesses, sales head of PayPal India, Abid Murshed said their resolve to meet evolving global expectations and challenges is now stronger than ever.
The in-principle approval by the RBI allows PayPal to continue offering cross-border payment services within a regulated framework, supporting Indian merchants with enhanced consistency, transparency, and security in their global transactions, the company statement said.
This opens new avenues for localised product innovations, improved customer experiences, and enhanced access to PayPal’s global payment network for large enterprises, small businesses, and freelancers in India, it added.
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