Unlimit has received authorisation from the Reserve Bank of India (RBI) to operate with a Payment Aggregator - Cross Border licence (PA-CB), allowing the company to facilitate cross-border transactions.
The licence will enable Indian merchants under Unlimit to receive international payments and global merchants to accept payments from Indian customers via UPI, card, and local payment methods. This initiative comes a year after the company received its Payment Aggregator licence in India for domestic transactions, thus strengthening its position in the market and its commitment to it.
Supporting Indian businesses
Using Unlimit, merchants in the country can access international markets and customers, utilising over 1,000 directly integrated payment methods across 150+ currencies and over 180 countries worldwide. This global reach will support them in expanding and enlarging their customer base without the complexity of integrating multiple providers.
The PA-CB licence enables the company to offer end-to-end cross-border payment flows within RBI’s regulatory framework, such as payment acceptance, international settlements, and foreign exchange. With this, Unlimit serves import and export use cases, eliminating barriers to expansion for merchants and offering businesses in India a single payment partner with which they can scale. Additionally, overseas merchants can enter the Indian market without having an established local entity.
As the ecommerce growth in the country increases 27% annually, with the market projected to reach USD 163 billion by 2026, India surpassed the US, becoming the second-largest digital retail market in the world in 2024. Additionally, India’s payment landscape grows fast, registering a 10.7% YoY increase according to the RBI. This is driven by UPI adoption, expanding internet penetration, and increasing cross-border trade.
Unlimit believes that the country is one of the fastest-growing globally, and its businesses are built with a focus on scale, while global companies increasingly view India as a key market. Securing a cross-border licence in the region enables the company to accelerate its growth strategy through its payments infrastructure, supporting clients in scaling across borders.
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