New Delhi – Payoneer said its Indian subsidiary, Payoneer India Pvt Ltd, has received in-principle authorization from the Reserve Bank of India to operate as a Payment Aggregator for cross-border transactions.
The authorization allows the company to facilitate both inward and outward cross-border payment transactions in India, enabling it to expand its local operations and offer end-to-end payment services to Indian importers and exporters. According to the company, the approval is intended to support small and medium-sized businesses by providing access to a wider range of payment products and services.
Payoneer said Indian businesses would be able to use additional features, including accounts payable services, along with streamlined onboarding and Know Your Customer processes. The company stated that the authorization strengthens its ability to serve Indian SMBs engaged in international trade.
Rohit Kulkarni, chief executive officer of Payoneer India, said the approval reflects the company’s long-standing presence in the country and its focus on supporting India’s export economy. He added that the authorization would enable Payoneer to support both import and export transactions for Indian businesses.
Tsafi Goldman, Payoneer’s chief legal and governance officer, said the authorization represents a step in expanding the company’s regulatory infrastructure in India and aligns with its long-term plans in the market.
Payoneer said it serves customers in more than 190 countries and territories and operates as a regulated entity across several major financial jurisdictions.
