EximPe Gets RBI Approval as Payment Aggregator for Cross-Border Transactions

by

Background

  • The Reserve Bank of India (RBI) has a special framework called Payment Aggregator – Cross Border (PA-CB).
  • This framework controls companies that help manage payments crossing international borders.
  • To get this licence, firms must follow strict rules about security, compliance, monitoring of transactions, and have enough capital.
  • EximPe is now approved in principle by RBI to operate as a PA-CB.
  • Other notable companies with similar approvals include startups like Skydo and PayPal as well as big players like Amazon Pay India and BillDesk.

What This Approval Means for EximPe

  • This licence gives EximPe a strong position in India’s growing cross-border payments market.
  • So far, EximPe has processed over $450 million in transactions.
  • With the approval, it can make international payments easier and faster, especially for small and medium businesses (SMEs) that often face difficulties dealing with multiple countries.
  • The payment flows for businesses, like receiving money and sending payments across borders, will be smoother.

Goals and Future Plans of EximPe

  • The founder, Arjun Zacharia, plans to grow the company 10 times by the year 2026.
  • The main focus is on expanding in Asian markets, where India already has strong digital trade ties.
  • EximPe will work on making compliance rules simpler for businesses.
  • It will also solve problems related to currency exchange and the settlement of international payments.
  • The company aims to build a strong payment system designed especially for SMEs, which are key to India’s economy and trade.

Funding and Investor Confidence

  • EximPe has raised $3.5 million in equity funding.
  • This financial backing shows that investors trust the company and its future.
  • So far, EximPe has worked with more than 5,000 SMEs, manufacturers, and service providers, making it a trusted partner.
  • The new funds will be used to improve technology, expand into new markets, and offer better support and onboarding for customers.

Why This is Important for India’s Fintech and Trade

  • Cross-border payments are crucial for global trade and digital services.
  • Regulatory approvals like this from RBI improve trust and security in these payments.
  • They also strengthen the digital infrastructure needed for India’s trade with other countries, especially in Asia.
  • This move supports SMEs by reducing barriers in international trade and connecting them more easily with global markets.

Leave a Comment