Payoneer Global Inc. has secured an in‑principle authorization from the Reserve Bank of India to operate as a Payment Aggregator – Cross Border (PA‑CB). The approval allows the company to process both inward and outward cross‑border transactions for Indian importers and exporters, effectively expanding its regulated footprint in a market projected to exceed $850 billion in 2026.
The PA‑CB framework, introduced by the RBI to bring cross‑border payments under tighter regulatory oversight, imposes a maximum transaction value of INR 25 lakh (about $30,000) per unit for both inward and outward transfers. New entrants must also meet a net‑worth requirement of INR 15 crore (≈$1.8 million) initially, rising to INR 25 crore (≈$3 million) within three years. As of the announcement, 19 entities have already received full PA‑CB authorizations, positioning Payoneer among a select group of fintechs with the regulatory clearance to operate in India’s high‑growth cross‑border market.
Payoneer’s leadership highlighted the strategic significance of the approval. Chief Legal and Governance Officer Tsafi Goldman said the in‑principle status “is an important step toward further expanding Payoneer’s global regulatory infrastructure and strengthening our regulatory foundation in India, reflecting our long‑term commitment to the market.” CEO of Payoneer India, Rohit Kulkarni, added that the company’s decade‑long presence in India “is a testament to our more than decade‑long presence in the local market and support of India’s thriving export economy.” The approval will enable Payoneer to offer a broader suite of products, including accounts payable features, and streamline onboarding and KYC processes for small‑and‑medium‑sized businesses.
The market reacted positively, with Payoneer’s shares rising 1.27% in pre‑market trading to $5.54 on the day of the announcement. The modest lift reflects investor confidence in the company’s ability to capture a larger share of India’s cross‑border payment volume, a key growth engine in Payoneer’s global strategy.
The in‑principle approval positions Payoneer to deepen its presence in India, a market that is expected to grow rapidly and where cross‑border payments are a critical enabler for exporters and importers. By gaining PA‑CB status, Payoneer can now provide end‑to‑end cross‑border payment solutions, potentially increasing transaction volume and revenue in a key emerging‑market segment. The regulatory milestone strengthens Payoneer’s competitive position against other fintechs such as Paytm, Razorpay, and Pine Labs that have also secured PA‑CB licenses, and it aligns with the company’s broader strategy to expand in high‑growth corridors like China, Canada, and Israel.
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