Airpay Wins RBI Nod to Operate as Cross-Border Payment Aggregator

The approval completes the company’s unified PA authorisations, positioning it to offer regulated international payment rails to Indian merchants.

Overview

With RBI sign-off, Airpay is licensed under PA-O, PA-P and PA-CB, covering online, physical and cross-border aggregation.
Airpay projects a 30–40% rise in processing volumes within 6–12 months, targets onboarding 50,000+ merchants and expects cross-border flows to contribute over 20% of revenue.
Founder Kunal Jhunjhunwala said the licence strengthens a regulated bridge for exporters, SaaS firms, digital merchants and retailers to make or collect international payments.
The authorisation follows recent RBI approvals for players such as Razorpay and PayU as NPCI advances UPI’s global reach, including new partnerships and a planned Europe entry.
Founded in 2012, the Mumbai-based omnichannel platform serves SMEs and enterprises across online, in-store and mobile channels and has raised $3.6 million from Kalaari Capital.