Fintech Skydo receives in-principle approval to operate as PA-CB entity

Cross-border payments firm Skydo on Tuesday received an in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity.

At present, only five entities have received final approval from the banking regulator to operate as PA-CB. These include Adyen India Technology Services, Amazon Pay (India), Cashfree Payments, IndiaIdeas.com, and Pay10 Services.