Wise Receives RBI Approval to Function as Cross-Border Payment Aggregator.

Banking & Finance

In June 2025, London (United Kingdom, UK)-based financial technology company Wise, formerly known as TransferWise, received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator Cross Border (PA-CB) specifically for export transactions.


      - This approval enables Wise to facilitate faster and cost-effective international payments for Indian exporters.

     

     

Main Point :-   (i) Wise has been granted in-principle authorization by the RBI to function as a PA-CB, focusing on export transactions.

      (ii) The approval allows Wise to provide Indian exporters with a streamlined and economical way to receive payments from international clients, thereby enhancing their global business operations.

(iii) Wise is expanding its presence in India by establishing a full-stack office in Hyderabad (Telangana), led by Smrithi Ravi, Head of Engineering for the Asia-Pacific region.

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