Payoneer India has achieved a significant regulatory milestone by securing in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator-cross border (PA-CB). This approval positions the fintech firm to facilitate both inward and outward transactions, expanding its operational capabilities in the Indian market.

Regulatory Approval Details

The PA-CB authorization enables Payoneer India to provide comprehensive cross-border payment solutions for both import (outward) and export (inward) transactions. This regulatory approval represents a crucial step in the company's expansion strategy within India's growing digital payments ecosystem.

Global Operations and Network

Payoneer maintains an extensive international presence, supporting customers across over 190 countries and territories. The company leverages a robust network of nearly 100 banking and payment service provider partnerships to deliver its services globally.

Rohit Kulkarni, CEO of Payoneer India, emphasized the significance of this approval: "With the PA-CB authorisation, we will be equipped to provide comprehensive cross-border payment solutions for both import (outward) and export (inward) transactions."

Regulatory Compliance Framework

Payoneer operates as a regulated entity across multiple major financial jurisdictions, demonstrating its commitment to regulatory compliance and operational excellence. The company maintains regulatory status in several key markets:

• United States
• Europe
• United Kingdom
• Hong Kong
• Japan
• Singapore
• China
• Australia

This extensive regulatory footprint positions Payoneer to serve businesses engaged in international trade and cross-border transactions effectively. The RBI approval adds India to this list of regulated jurisdictions, enabling the company to offer localized services while maintaining its global operational standards.