Latest news with #PA-CB-E
Time of India
28-05-2025
- Business
- Time of India
PayPal gets RBI's nod to operate as cross-border payment aggregator for exports
PayPal Payments Pvt Ltd, the Indian arm of global fintech major PayPal Holdings Inc, has received in-principle approval from the Reserve Bank of India (RBI) to function as a Payment Aggregator for Cross-Border Exports (PA-CB-E), the company announced on Tuesday. The regulatory approval marks a significant development in PayPal's India operations and reinforces its role in enabling secure cross-border payment solutions for Indian exporters. With this move, PayPal aims to support Indian small businesses and freelancers in accessing approximately 200 international markets more efficiently, PTI reported. "The in-principle PA-CB-E approval by RBI is a significant milestone for PayPal. It reflects the strength of India's regulatory vision and the progress toward seamless, secure cross-border transactions. As India grows into a global export hub, PayPal remains committed to empowering Indian businesses with trusted digital payment solutions," said Nath Parameshwaran, Senior Director - Government Relations at PayPal India. The development comes amid robust export performance by India, with outbound shipments reaching USD 73.8 billion in April 2025, highlighting strong momentum in global trade. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Over the years, PayPal has introduced a growing range of localised solutions in India such as PayPal Checkout, PayPal Invoicing, and no-code checkout tools. These are aimed at simplifying international commerce for micro, small, and medium enterprises (MSMEs). "We have been operating in India for more than a decade, enabling small businesses and freelancers to participate in global commerce through trusted and secure payment solutions. As trade dynamics shift, presenting new challenges and opportunities, we stand by our customers as they expand into new trade corridors and meet evolving global customer expectations," said Abid Murshed, Head of Sales at PayPal India. According to the company, the RBI's in-principle approval enables PayPal to continue providing cross-border payment services within a regulated environment, ensuring greater transparency, consistency, and security for Indian merchants conducting global transactions. The company added that the approval will pave the way for new opportunities in local product innovation, improved user experiences, and broader access to PayPal's international payment ecosystem for Indian enterprises of all sizes. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
28-05-2025
- Business
- Business Standard
PayPal receives RBI nod to operate as cross-border payment aggregator
PayPal Payments Pvt Ltd (PayPal), the Indian subsidiary of PayPal Holdings Inc, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment AggregatorCross BorderExports (PA-CB-E). This marks a key milestone in PayPal's operations in India and its continued support for Indian small businesses, enabling secure cross-border payments to approximately 200 markets, the company said in a statement. The approval comes as India's exports reached USD 73.8 billion in April 2025, underscoring the increasing momentum in cross-border trade. "The in-principle PA-CB-E approval by RBI is a significant milestone for PayPal. It reflects the strength of India's regulatory vision and the progress toward seamless, secure cross-border transactions. As India grows into a global export hub, PayPal remains committed to empowering Indian businesses with trusted digital payment solutions," Nath Parameshwaran, Senior Director - Government Relations at PayPal India, said. With a growing suite of localised offerings, such as PayPal Checkout, PayPal Invoicing and No-Code checkout tools, PayPal is focused on simplifying global selling for Indian small businesses. PayPal has a track record of innovating at every major inflection point in commerce over the last 25 years, Abid Murshed, Head of Sales at PayPal India, said. Also Read "We have been operating in India for more than a decade, enabling small businesses and freelancers to participate in global commerce through trusted and secure payment solutions. As trade dynamics shift, presenting new challenges and opportunities, we stand by our customers as they expand into new trade corridors and meet evolving global customer expectations," Murshed added. The in-principle approval allows PayPal to continue offering cross-border payment services within a regulated framework, supporting Indian merchants with enhanced consistency, transparency, and security in their global transactions, it said. This opens new avenues for localised product innovations, improved customer experiences, and enhanced access to PayPal's global payment network for large enterprises, small businesses, and freelancers in India, it added.
