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Cashfree Payments: Gets RBI approval for cross-border product

Cashfree Payments: Gets RBI approval for cross-border product

  • Cashfree Payments is a payments and banking technology company that enables businesses inĀ India to collect payments online
  • Announced that it has received a go-ahead from the Reserve Bank of India (RBI) for its cross border payments product
  • The approval comes upon the company successfully piloting the solution during RBI’s Second Cohort under the Regulatory Sandbox
  • The product will enable Indian fintech companies to offer the purchase of shares
  • The cross border investments will fall under the ambit of RBI’s Liberalized Remittance Scheme (LRS)
  • The solution also offers savings on foreign exchange (FX) fees and faster settlements for access to funds

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