Indian fintech firms expand cross-border payment services

Indian fintech companies are expanding cross-border payment capabilities. Jio Payment Solutions has launched services for Indian exporters following authorization from the Reserve Bank of India to operate as a Payment Aggregator for cross-border transactions. Partnering with Citi, the platform allows businesses—including freelancers and SaaS companies—to collect payments via virtual accounts, international cards, and local payment methods in markets such as the US, UK, UAE, and Singapore.

Separately, PhonePe has partnered with Visa to introduce several new payment solutions, including Tap to Pay and Cross Border Scan to Pay. PhonePe is the first Indian app to offer international QR code payments, allowing users to scan Visa-supported QR codes in 14 international markets, including Singapore, Japan, and South Korea. The partnership also includes Smart Accept to assist micro-merchants with card acceptance.