Payoneer Gains In-Principle Authorization for Cross-Border Payments
In a significant development for cross-border payment services, Payoneer India Pvt Ltd has received in-principle authorization as a Payment Aggregator – Cross Border from the Reserve Bank of India. This major regulatory milestone strengthens Payoneer's position as a comprehensive platform serving small and medium-sized businesses (SMBs) across India.
Enhancing Solutions for Indian Businesses
The authorization allows Payoneer to provide a complete suite of cross-border payment solutions. This is especially beneficial for Indian importers and exporters engaged in both Inward and Outward transactions. The expanded services will include robust accounts payable features and an optimized onboarding process along with a streamlined 'Know Your Customer' (KYC) approach, simplifying operations for SMBs.
Commitment to Supporting India's SMB Sector
Tsafi Goldman, Chief Legal and Governance Officer at Payoneer, remarked, "This in-principle authorization marks our ongoing commitment to enhancing our regulatory structure in India. Our investments will empower SMBs in the region to scale on a global stage using our compliant platform." This reflects Payoneer's dedication to fostering growth within India’s competitive market.
Looking Forward to Growth and Opportunities
Rohit Kulkarni, CEO of Payoneer India Pvt Ltd, stated, "Our authorization from the Reserve Bank of India validates our long-standing presence in this dynamic market. We can now offer extensive cross-border payment solutions, which is vital for addressing the needs of local businesses aiming to explore international markets." He added that India's export economy is on track to exceed $850 billion, highlighting the immense potential for growth.
Payoneer's Global Reach and Local Impact
Payoneer continues to cater to customers in over 190 countries, leveraging a strong network of close to 100 banking and payment service provider partnerships. As of the last twelve months up to Q3 2025, they have served nearly two million active customers and managed transactions exceeding $80 billion. With around 100 dedicated customer success managers fluent in more than 20 languages, Payoneer is uniquely positioned to build local relationships and support SMBs in their global scaling efforts.
Regulated Entity Across Major Jurisdictions
The company operates within major financial jurisdictions, including the United States, Europe, the United Kingdom, Hong Kong, Japan, and many others. This extensive regulatory compliance allows Payoneer to facilitate secure transactions and support the diverse needs of SMBs, enterprises, and marketplaces.
About Payoneer
Payoneer stands as a leading financial platform specializing in cross-border business and global payments. Dedicated to empowering millions of businesses, Payoneer provides essential financial tools and services that help them confidently engage in international trade. They are particularly focused on enhancing the capabilities of SMBs in emerging markets, assisting them in connecting with the global economy while managing multi-currency transactions efficiently.
Frequently Asked Questions
What is the recent achievement of Payoneer in India?
Payoneer has received in-principle authorization from the Reserve Bank of India to operate as a Payment Aggregator for cross-border transactions.
How will this authorization benefit Indian SMBs?
The authorization allows Payoneer to offer a wider range of financial solutions, making cross-border transactions easier for SMBs, enhancing their global reach.
What markets does Payoneer serve?
Payoneer serves customers in over 190 countries, focusing on cross-border payments and providing services tailored to SMBs.
How does Payoneer support global business?
By offering a robust regulatory framework and customer support, Payoneer enables businesses to transact securely and efficiently across borders.
What services can businesses expect from Payoneer?
Businesses can expect comprehensive cross-border payment solutions, including accounts payable features and streamlined onboarding processes.
