PayPal gets RBI nod to operate as payments aggregator for cross-border export

PayPal Payments Private Limited, a payments company and the Indian subsidiary of Nasdaq-listed PayPal Holdings Inc. (PYPL), on Wednesday announced that it has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for Cross Border Exports (PA-CB-E). In a statement, the company said that the development marks a key milestone in PayPal’s operations in India and its continued support for Indian small businesses, enabling secure cross-border payments to approximately 200 markets.