Skydo gets Amazon nod to streamline payments for Indian exporters

By Gloria Methri

Skydo, a cross-border payments platform from Bengaluru, announced that it has received Payment Service Provider (PSP) approval from Amazon. This makes Skydo one of the first homegrown platforms to offer seamless international payments for lakhs of Indian exporters selling on Amazon global marketplaces.

With this, exporters on Amazon can receive their international payouts through Skydo securely and cost-effectively. Skydo has partnered with HDFC Bank and is compliant with regulations laid out by the Reserve Bank of India. Through its payment solutions, Skydo has already empowered over 10,000 Indian exporters to receive their international payments seamlessly.

Amazon recently announced plans to enable over USD 80 billion in cumulative eCommerce exports from India by 2030, quadrupling its earlier pledge of USD 20 billion by 2025. This highlights the robust demand for ‘Made in India’ products and the crucial role of payment service providers like Skydo in processing international payments for India’s growing exports.

As part of its launch offer, Skydo is offering zero forex markup and a USD 1 flat transaction fee to Amazon Global sellers in the first three months of using its platform. Some key features include transparent pricing, instant digital onboarding and KYC, dedicated customer support, fast settlements, and simplified regulatory compliance with instant FIRA (Foreign Inward Remittance Advice).

“We believe international payments on global marketplaces such as Amazon should be as transparent and easy as local payments. Our mission is to empower Indian exporters by eliminating inefficiencies and ensuring convenient and cost-effective cross-border transactions. Skydo’s advanced risk, compliance, and fraud prevention infrastructure ensures that sellers can operate with confidence in the global marketplace,” said Srivatsan Sridhar, CEO of Skydo.

Managing cross-border payments and navigating export compliance are major challenges for businesses expanding globally. Skydo is addressing these challenges by building a comprehensive ecosystem of services around payments tailored to Amazon sellers. This will help Indian MSMEs and D2C startups focus on growth and extend their reach to global markets.