Cross-Border Payments Fintech Skydo Gets RBI Nod To Operate As PA-CB

New Delhi, Jan 12 (KNN) Cross-border payments fintech Skydo has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB), enabling it to facilitate international payment collections for Indian exporters.

With the licence in place, the Bengaluru-based firm said it plans to deepen its product offerings and expand its presence across additional and operationally complex trade corridors. The authorisation allows Skydo to process inward cross-border transactions under the RBI’s payment aggregator framework.

Commenting on the development, Skydo Co-founder Movin Jain said that bringing cross-border payments under a regulated framework enables companies to build products tailored to the needs of Indian exporters, while maintaining stronger oversight of customer experience, service quality and risks related to money laundering and financial crime.

Founded in 2021 by Srivatsan Sridhar and Movin Jain, Skydo focuses on developing cross-border payment infrastructure for Indian exporters, MSMEs, freelancers and digital-first businesses, with a strong emphasis on regulatory compliance.

The platform allows exporters to receive local payments from overseas clients, supports collections in more than 32 currencies, and offers flat-fee pricing along with compliance services such as Foreign Inward Remittance Certificates (FIRC), invoicing, payment reminders and accounting integrations.

Skydo currently serves over 30,000 Indian MSMEs, freelancers and startups across more than 50 cities. The company said it has also introduced first-to-market solutions, including seamless local payment acceptance in challenging corridors such as Africa.

The approval comes amid increasing participation in cross-border payments, with the RBI having authorised 19 entities under the PA-CB framework to date.

(KNN Bureau)