Cashfree, J.P. Morgan team up to enhance cross-border payments

By Vriti Gothi

Cashfree Payments has announced a collaboration with J.P. Morgan Payments to support secure, compliant and seamless cross-border payment flows for global businesses expanding into India. As part of the partnership, J.P. Morgan Payments will serve as an Authorised Dealer Category-I (AD-I) bank for Cashfree, enabling the company to process import transactions under the Reserve Bank of India’s Master Direction on Regulation of Payment Aggregators.

The agreement comes as India’s digital commerce and cross-border payments ecosystem undergoes rapid expansion. While India’s cross-border eCommerce market is projected to touch $1 trillion by 2030, international brands continue to face regulatory hurdles, settlement uncertainties, and complex payment requirements that slow market entry. Many companies must set up local entities, establish domestic collection infrastructure, and manage manual approvals for high-value import factors that add cost and time, and limit access to India’s growing base of digital consumers.

The collaboration aims to address these constraints by pairing J.P. Morgan Payments’ global banking capabilities with Cashfree’s domestic payments infrastructure. As Cashfree’s AD-I partner, J.P. Morgan will route import transactions through regulated channels, offering businesses compliant processing, reliable settlements and simplified currency management. The arrangement also eliminates the need for international brands to establish a local presence solely for payment and settlement requirements.

Akash Sinha, CEO and Co-founder of Cashfree Payments, said, “The next era of global payments will be defined by enabling international businesses to enter India compliantly while empowering Indian consumers to shop from global brands as effortlessly and confidently as they would from any local store,” he said. “By combining J.P. Morgan Payments’ global leadership with Cashfree’s homegrown innovation and local insight, we are creating the foundation for international businesses to expand into India.”

Christine Tan, Head of Financial Institutions Group Sales, Asia Pacific, J.P. Morgan Payments, said, “India is emerging as one of the fastest-growing digital commerce markets in the world, and enabling efficient, reliable and secure cross-border payments is critical to unlocking its full potential,” she said. “Our collaboration with Cashfree allows us to bring J.P. Morgan Payments’ global leadership in payments to international merchants entering India.”

The development follows Cashfree’s ongoing push to strengthen its cross-border payments capabilities. The company recently became the first non-banking entity to secure the RBI’s Payment Aggregator–Cross Border (PA-CB) licence for both imports and exports, positioning it to further streamline access for global merchants and support India’s growing role in international digital commerce.