Reserve Bank of India (RBI) approves Airpay Payment Services as cross-border payment aggregator.

Key facts

• Airpay Payment Services has secured approval from the Reserve Bank of India to operate as a cross-border payment aggregator.
• The company is now licensed to operate as a payment aggregator across online, physical and cross-border categories.
• Airpay projects a 30-40 per cent rise in processing volumes over the next 6-12 months.
• The company anticipates 20 per cent-plus revenue contribution from cross-border flows and onboarding over 50,000 merchants in the same period.