Jio Payment Solutions Goes Global, Launches Cross-Border Payments To Link Indian Exporters With International Markets

New Delhi: Jio Payment Solutions Ltd (JPSL) has launched a cross-border payment platform for Indian exporters, allowing businesses to collect payments from customers across international markets through multiple payment channels.

JPSL, a wholly-owned subsidiary of Jio Financial Services, said the platform will allow exporters to accept overseas payments through multi-currency virtual accounts, international cards and local payment rails.

RBI Approval Powers Cross-Border Push

The launch follows authorisation from the Reserve Bank of India (RBI) for JPSL to operate as a Payment Aggregator for Cross-Border (PA-CB) transactions covering both exports and imports.

The company said the platform is designed to simplify international collections and compliance for businesses expanding beyond India.

Online sellers, freelancers, creators, digital businesses and Software-as-a-Service (SaaS) companies are among the segments expected to benefit.

Simplifying International Payments

Receiving payments from overseas customers can involve several intermediaries, currencies, paperwork and manual reconciliation.

JPSL's cross-border payment solution seeks to streamline this process by bringing international collections onto a single platform while enabling overseas customers to use familiar local payment options.

Multi-currency virtual accounts could also reduce the need for international buyers to navigate traditional SWIFT or correspondent banking channels, according to the company.

Jio Expands Payments Ecosystem

Jio Payment Solutions already operates as a payment aggregator for online transactions and physical point-of-sale payments.

With cross-border payments now added, JPSL is expanding its payments infrastructure across digital commerce, physical retail and international e-commerce.

The platform is aimed at small, medium and large enterprises conducting permitted current-account transactions.

The launch also strengthens Jio Financial Services' presence in India's expanding digital financial ecosystem, while giving export-focused businesses another channel to collect international payments and reach customers across global markets.