Skydo wins key licences for global payments from RBI, GIFT City

By Aarav Garg

Skydo has secured two key regulatory approvals that expand its ambitions to become a full-stack cross-border payments platform for Indian businesses. The FinTech has received in-principle approval to operate as a Payment Service Provider (PSP) at GIFT City International Financial Services Centre.

This will give Skydo access to infrastructure designed for international financial services rather than India’s domestic banking framework.

The company said the licence will support new capabilities including multi-currency collections, merchant acquisition, e-money accounts and the development of additional cross-border payment corridors for Indian exporters and global businesses.

Separately, the company has also received regulatory approval under the Reserve Bank of India’s Payment Aggregator-Cross Border (PA-CB) framework to support outward payments. Earlier this year, the FinTech secured final authorisation for export collections under the same framework.

Srivatsan Sridhar, Co-founder and CEO of Skydo, said, “GIFT City marks an important step in India’s ambition to build globally competitive financial infrastructure. With the PA-CB Outward approval and the GIFT City In-Principle Authorisation, we can support both sides of a business’ global payment journey in a simple and compliant way. For MSMEs and digital-first businesses, this means better access to global payment corridors, improved currency management and more efficient cross-border transactions.”

Together, the approvals allow Skydo to support both inbound and outbound international payments, enabling Indian businesses to collect payments from overseas customers while also paying global vendors, software providers and partners through a single platform.

The expansion reflects broader growth in India’s cross-border FinTech market as exporters, SMEs and digital-first businesses increasingly operate across international markets. India has targeted $2 trillion in exports by FY30, with MSMEs continuing to account for a significant share of outbound trade.

Skydo currently serves more than 40,000 businesses across India and supports collections from over 150 countries.