Cashfree Payments gets payment aggregator-cross border licence from RBI

Cashfree Payments, a company specialising in banking solutions and payments, on Monday received the Reserve Bank of India’s (RBI) nod to operate as a payment aggregator-cross border (PA-CB) nearly a year after the banking regulator issued a circular on the regulation of such entities.

The Bengaluru-based company is one of the first non-banks to receive the PA-CB licence, according to the RBI’s website.