RBI approves PayGlocal for two-way cross-border payments

By Vriti Gothi

Cross-border payments FinTech PayGlocal has secured final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border – Inward & Outward (PA-CB-I&O), to facilitate both inward and outward online payment flows.

The licence enables PayGlocal to support cross-border payments in both directions: enabling Indian exporters, freelancers and globally focused enterprises to receive payments from international customers, while allowing overseas businesses to accept payments from Indian consumers through UPI, cards and other domestic payment methods.

The approval expands upon the company’s existing authorisation as a Payment Aggregator Online (PA-O), granted in September 2024, underscoring its positioning in India’s regulated digital payments ecosystem. The development comes as cross-border digital commerce continues to accelerate, driven by rising global demand for Indian goods and services and increasing participation of Indian consumers in international eCommerce.

“This authorisation is an important milestone for PayGlocal and for the cross-border infrastructure we are committed to building,” said Prachi Dharani, Co-founder and CEO of PayGlocal. “Until now, we’ve enabled Indian businesses to collect payments from customers across the world with trust and compliance. With this licence, we can now support outward flows as well; allowing global merchants to accept payments from India through secure local methods like UPI and cards.”

Dharani added that strengthening regulated payment infrastructure is critical as India becomes “an increasingly significant participant in global digital commerce.”

Ashish Agrawal, Managing Director at Peak XV, noted, “The PayGlocal team has demonstrated strong execution in enabling inbound cross-border payment flows. This licence now opens the door to outbound flows and a larger addressable market. We believe PayGlocal is well-positioned to build the infrastructure required for India’s expanding presence in global trade and digital commerce.”

PayGlocal’s offering includes domestic and international payment gateway services, multi-currency accounts, alternate payment methods, Apple Pay acceptance, fraud prevention tools and its INReach platform for enabling acceptance from Indian customers. The new approval further strengthens the company’s unified cross-border payments stack as regulatory scrutiny increases on compliance, security and reliability within India’s digital payments landscape.