Airpay gets RBI nod to operate as cross-border payment aggregator

Airpay Payment Services on Tuesday said it has secured approval from the Reserve Bank of India to operate as a cross-border payment aggregator, completing its authorisations under the unified payment aggregator (PA) framework.

With this, the company is licensed to operate as a payment aggregator across online, physical and cross-border categories, a company statement said.

The milestone positions airpay as a homegrown full-stack payments infrastructure provider for Indian enterprises, D2C brands and SMEs for both domestic and global markets, it added.

The company expects the launch to accelerate scale, projecting a 3040 per cent rise in processing volumes over the next 6-12 months and anticipating 20 per cent-plus revenue contribution from cross-border flows alongside onboarding over 50,000 merchants in the same period.

"Indian business growth is no longer domestic-only. Our exporters, SaaS firms, digital merchants and local retailers are all engaging globally, and they need reliability, compliance and speed in payments," said Kunal Jhunjhunwala, Founder of airpay Payment Services.

"RBI's approval positions us to support that shift responsibly and at scale. It strengthens our ability to provide Indian businesses a regulated yet seamless bridge to make or collect payments from Mumbai, Manipur or to Madrid, he further said.