SUMMARY
- Cashfree Payments has initiated a pilot for cross-border payments with Swiggy, Zepto, Nykaa, and other major brands.
- The program focuses on UPI and RuPay card users, enabling them to make global transactions.
- The fintech startup recently received RBI’s Prepaid Payment Instrument (PPI) license.
Cashfree Payments, a Bengaluru-based fintech startup, has launched a pilot program for cross-border payments in collaboration with prominent Indian companies like Swiggy, Zepto, Nature’s Basket, Nykaa, BookMyShow, Redbus, and Vedantu. The program aims to allow international customers to make payments in India using UPI and RuPay cards—payment methods that are not traditionally recognized for global transactions.
This initiative comes shortly after Cashfree secured the Payment Aggregator Cross Border (PA-CB) license, which allows the company to facilitate payments across borders. The pilot program aims to streamline global payment processes, helping overseas customers transact seamlessly with Indian businesses.
The fintech company has also recently received the Reserve Bank of India’s Prepaid Payment Instrument (PPI) license, enabling it to facilitate purchases and fund transfers against a preloaded value.
Cashfree’s pilot is set to expand cross-border payment capabilities, benefiting both global consumers and Indian brands looking to enhance their international transaction services.
