PayPal gets RBI nod for facilitating cross-border export payments
PayPal’s regulatory progress follows a series of similar approvals granted to rival firms, signaling rising competition in the cross-border payments space.
PayPal Payments Private Limited, the Indian subsidiary of Nasdaq-listed PayPal Holdings Inc. (PYPL), 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), the company said in a statement on Wednesday.
The regulatory nod enables PayPal to continue facilitating outbound payments for Indian merchants engaging in global trade, within a formalised and regulated framework.
“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,” said Nath Parameshwaran, Senior Director, Government Relations, PayPal India. “As India grows into a global export hub, PayPal remains committed to empowering Indian businesses with trusted digital payment solutions.”
India’s merchandise exports stood at $73.8 billion in April 2025, according to government data, underscoring growing momentum in cross-border commerce. Cross-border payment services are typically availed by Indian micro, small, and medium-sized enterprises (MSMEs), freelancers, and online sellers on platforms like Amazon.
“PayPal has a track record of innovating at every major inflection point in commerce over the last 25 years,” said Abid Murshed, Head of Sales, PayPal India. “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.”
However, PayPal’s regulatory progress follows a series of similar approvals granted to rival firms, signaling rising competition in the cross-border payments space.
On July 22, 2024, Bengaluru-based Cashfree Payments India Private Limited received RBI approval to operate as both an Export and Import Payment Aggregator–Cross Border (PA-CB-E&I). Three days later Amazon Pay (India) Private Limited and local arm of Dutch payments giant Adyen were both approved to operate under the Import-only (PA-CB-I) category.
Smaller fintechs have also entered the fray, with startups like GoBrisk Technologies Private Limited (BRISKPE) and Skydo Technologies Private Limited building digital infrastructure to support Indian exporters, particularly in sectors underserved by traditional banks.
PayPal’s India operations are focused exclusively on outbound cross-border payments, after ceasing domestic operations in 2021. The latest approval does not alter that strategy but affirms the company’s long-term commitment to the Indian market, the company said. PayPal operates in around 200 global markets.