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BRISKPE has received in-principle authorization from the RBI for cross-border payments.

Banking & Finance | Dated: 17 Mar 2025

On March 12, 2025, Brisk Payment Exchange (BRISKPE), a payment aggregator backed by global investment firm Prosus and based in Mumbai (Maharashtra), received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for Cross-Border (PA-CB) transactions. Key Points:

🎯 Key Highlights:

  • - This authorization allows BRISKPE to manage both export and import transactions under the Payment and Settlement Systems Act, 2007.
  • - BRISKPE is one of the first platforms focused exclusively on cross-border payments, and it complies with the updated regulatory framework introduced by the RBI in October 2023.
  • - The startup will now work with Category-1 banks (RBI licensed banks that can deal in foreign exchange) to handle export and import collection accounts, allowing businesses to make secure payments.

💡 Other Important Facts:

  • (i) Currently, BRISKPE processes around 10,000 export transactions monthly. With the addition of import services, the company expects this number to increase to 100,000 transactions by the end of the next financial year (2025-26).
  • (ii) This development aims to improve the efficiency, security, and transparency of international payment systems for businesses involved in global trade.

📚 Test Your Knowledge:

Which fintech company has recently received in-principle authorization from the RBI for cross-border payments?

Correct Answer: BRISKPE

🚀 Quick Recap: