PayPal Receives RBI Approval for Cross-Border Payment Aggregation

PayPal Payments Private Limited, the Indian subsidiary of PayPal Holdings Inc., has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for Cross Border Exports (PA-CB-E). This approval marks a significant milestone in PayPal's operations in India, enabling secure and regulated cross-border payments for Indian merchants and supporting the country's growing role as a global export hub. The move is expected to benefit Indian micro, small, and medium-sized enterprises (MSMEs), freelancers, and online sellers engaging in global trade. PayPal joins other fintech firms like Worldline ePayments India and Cashfree Payments India, which have also recently received RBI approvals to operate in the cross-border payments space, indicating increased competition. PayPal executives highlighted their commitment to empowering Indian businesses through trusted digital payment solutions, reflecting India's regulatory progress toward seamless international commerce. This development underscores the importance of regulated frameworks in facilitating outbound payments for India’s expanding export market.