Razorpay Joins Elite List of RBI-Approved Cross-Border Payment Aggregators

TLDRs;

• Razorpay secures RBI cross-border license, enabling seamless global transactions.
• PA–CB approval allows Indian merchants to receive payments without local setup.
• Razorpay can now process payments up to ₹25 lakh per unit.
• Cross-border access positions Razorpay to tap India’s $125B e-commerce market.

Bengaluru-based fintech firm Razorpay has officially received the Payment Aggregator – Cross Border (PA–CB) license from the Reserve Bank of India (RBI).

This authorization allows the company to handle both inward and outward cross-border payments, joining a select group of Indian firms, including Amazon Pay, Adyen, Cashfree, and BillDesk, authorized under the PA–CB framework.

The license, which replaced the older Online Payment Gateway Service Provider (OPGSP) system in October 2023, comes with strict eligibility requirements. Applicants must meet a net worth threshold of ₹15 crore at the time of application, with existing providers required to reach ₹25 crore by March 31, 2026.

The framework also ensures rigorous oversight, including mandatory Know Your Customer (KYC) verification for merchants, and vetting of buyers for import transactions exceeding ₹2.5 lakh per unit.

Expanding Global Payment Capabilities

With this approval, Razorpay can facilitate payments for Indian businesses in over 130 currencies. It also enables international companies to accept local payment methods in India without establishing a local entity.

The firm’s existing payment infrastructure already supports UPI, RuPay, EMIs, net banking, and other local options through a single integration, making it easier for businesses to operate seamlessly across borders.

Implications for India’s E-Commerce Market

India’s e-commerce market, which reached ₹10.8 lakh crore ($125 billion) in 2024, stands to gain significantly from the PA–CB framework. Analysts project that this market could grow to ₹29.9 lakh crore ($345 billion) by 2030, registering a compound annual growth rate (CAGR) of 15%.

Cross-border capabilities also open avenues for SaaS providers, digital service firms, and ultrafast delivery startups to reach Indian consumers more effectively.

By partnering with checkout platforms and payment orchestration vendors, international firms can now offer Indian customers local payment options without needing a physical presence in the country. This development is particularly crucial for the growing direct-to-consumer (D2C) market, which is projected to surpass ₹8.7 lakh crore in 2025.

Processing Limits and Future Growth

Razorpay’s new authorization allows the firm to process cross-border transactions of up to ₹25 lakh per unit for goods or services, significantly higher than the previous OPGSP cap. This expansion not only enhances the firm’s service portfolio but also strengthens India’s position in global digital commerce.

As India continues to refine its digital payments ecosystem, Razorpay’s PA–CB approval highlights the country’s growing emphasis on secure, scalable, and internationally compliant payment solutions.

For Indian businesses and global merchants alike, this development promises a smoother, faster, and more integrated cross-border payment experience.

The post Razorpay Joins Elite List of RBI-Approved Cross-Border Payment Aggregators appeared first on CoinCentral.