PayPal receives RBI nod to operate as cross-border payment aggregator
PayPal Payments Pvt Ltd (PayPal), the Indian subsidiary of PayPal Holdings Inc, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment AggregatorCross BorderExports (PA-CB-E).
This marks a key milestone in PayPal's operations in India and its continued support for Indian small businesses, enabling secure cross-border payments to approximately 200 markets, the company said in a statement.
The approval comes as India's exports reached USD 73.8 billion in April 2025, underscoring the increasing momentum in cross-border trade.
"The in-principle PA-CB-E approval by RBI is a significant milestone for PayPal. It reflects the strength of India's regulatory vision and the progress toward seamless, secure cross-border transactions. As India grows into a global export hub, PayPal remains committed to empowering Indian businesses with trusted digital payment solutions," Nath Parameshwaran, Senior Director - Government Relations at PayPal India, said.
With a growing suite of localised offerings, such as PayPal Checkout, PayPal Invoicing and No-Code checkout tools, PayPal is focused on simplifying global selling for Indian small businesses.
PayPal has a track record of innovating at every major inflection point in commerce over the last 25 years, Abid Murshed, Head of Sales at PayPal India, said.
Also Read
"We have been operating in India for more than a decade, enabling small businesses and freelancers to participate in global commerce through trusted and secure payment solutions. As trade dynamics shift, presenting new challenges and opportunities, we stand by our customers as they expand into new trade corridors and meet evolving global customer expectations," Murshed added.
The in-principle approval allows PayPal to continue offering cross-border payment services within a regulated framework, supporting Indian merchants with enhanced consistency, transparency, and security in their global transactions, it said.
This opens new avenues for localised product innovations, improved customer experiences, and enhanced access to PayPal's global payment network for large enterprises, small businesses, and freelancers in India, it added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
Mid-air escape: Air India London-Delhi flight entered Iran airspace as Israel struck with missiles; rerouted over Iraq
NEW DELHI: An Air India flight from London to New Delhi had just entered Iranian airspace when Israel launched a wave of missile strikes on Iran's military and nuclear sites. The flight was rerouted over Iraq before arriving in India one hour late, according to an AFP report. Tired of too many ads? go ad free now The close call was one of several disruptions on Friday as Air India diverted or turned back at least 16 international flights mid-air due to the sudden escalation and subsequent closure of Iranian airspace. Among those affected were services between India and cities like London, Toronto, and New York. Aircraft tracking site Flight Aware showed that two other Air India flights — from Delhi to Vienna and Mumbai to London — were nearing Iranian airspace and turned back to their origin airports shortly after the strikes began. In a statement, Air India said: 'Due to the emerging situation in Iran, the subsequent closure of its airspace and in view of the safety of our passengers, the following Air India flights are either being diverted or returning to their origin. We regret the inconvenience caused to our passengers due to this unforeseen disruption and are making every effort to minimise it.' The airline is offering full refunds or complimentary rescheduling to affected passengers and is arranging accommodation where necessary. The Indian Embassy in Iran also issued an advisory urging Indian nationals and people of Indian origin to stay alert and avoid non-essential travel, as tensions surged following Israel's precision strikes targeting Iranian defence infrastructure. Iran, Israel, Iraq, Jordan, and Syria temporarily shut down their airspace, leading to widespread cancellations and rerouting of global flights to and from the Middle East. Global airlines suspended flights to Tel Aviv and Tehran as air traffic over the region thinned out overnight. Israel said the strikes were a direct response to the growing threat from Iran's missile and nuclear capabilities. Iran retaliated by launching a wave of drones toward Israeli territory.
Mint
19 minutes ago
- Mint
India concerned about crude oil supply disruptions in Strait of Hormuz as prices surge after Israel's attacks on Iran
New Delhi: Indian policymakers are concerned about likely crude oil supply disruptions in the Strait of Hormuz – a key supply route for West Asian oil for the world's third-largest buyer – but are prepared for any eventuality after Israel's latest attacks on Iran sent oil prices surging to a two-month high, two people with knowledge of the developments said. India is particularly at a disadvantage given that it imports almost 90% of its energy requirements, of which half comes from West Asian countries including Saudi Arabia, Iraq, Kuwait and the UAE. Brent prices surged over 10% overnight and traded at about $74 per barrel, higher by 7.6% from its previous close, and way above $60 per barrel in May. Israel launched airstrikes on Iran on Friday, targeting the country's nuclear infrastructure. The Israel Defense Forces said the coordinated strikes hit multiple locations across Iran, marking the most serious attack on the country since the Iran-Iraq war in the 1980s. Also Read | Trump Sees Possible 'Massive Conflict' Between Israel, Iran Experts suggested that if the conflict continues and Iran blocks the Strait of Hormuz, which also has the loading ports of Saudi Arabia and the UAE, it may destabilize crude oil and natural gas trade. The narrow shipping passage accounts for about 20% of global crude oil supplies and 25% of liquefied natural gas trade. "This is a major event and may cause disruption if the situation continues. The Centre is closely watching the situation and is prepared for any eventuality in terms of supplies to India and availability of energy in the country," one of the two people said. An industry executive said on condition of anonymity that apart from the disruption of oil supplies in the Strait of Hormuz, the situation is likely to lead to higher freight and insurance rates, which will increase the landed cost of oil. Supply risk "About 20% of oil trade comes from that strait," said Prashant Vashisht, vice president with ICRA. 'Iran has threatened strikes on oil assets in Saudi Arabia and the UAE, Kuwait, and Qatar – there is potential supply risk. Further, Iran has threatened strike on in assets in other oil producers in the region, there is potential supply risk. Further, there is no alternate loading points for crude and gas which are generally loaded in that area. Only about 8% of the energy supplies coming through the strait can be diverted to other routes." "Currently, it is a wait-and-watch situation for the government and oil marketing companies. It also needs to be seen how the situation evolves in the next few days and how prolonged this conflict is," the second person said. An executive with an oil marketing company said there has been no immediate impact on supplies. However, there are concerns over supplies, going forward. "For June, the cargoes are already booked. But the issue would come up in terms of insurance and freight rate, which will impact the eventual prices," the executive said. Also Read | Israel-Iran conflict: Crude oil prices jump over 13%; Brent crude oil above $73 per barrel If prices remain high and continue to surge, the margins of oil marketing companies are likely to take a hit. Every $1 increase in crude prices would result in an increase of 50-60 paise per litre in petroleum product prices. However, no immediate impact on retail prices is expected because oil companies have been posting a profit on the sale of products of late due to low oil prices, said industry stakeholders. "At around $65 per barrel, oil companies were witnessing a healthy differential over pre-tax domestic and international prices of about ₹12 per litre of petrol and ₹9 per litre of diesel, this may now shrink," said Vashisht of ICRA. Economic impact JPMorgan predicted that oil prices may surge to $120 per barrel due to the conflict, which may lead to a 1.7% increase in retail inflation in the US. In the case of India too, there will be an economic impact, largely in terms of depreciation of the rupee against the dollar and on the balance of trade. "If prices reach the projected level of $120 per barrel in the near term, it will have created pressure on the forex front and the balance of trade as the import bill rises. However, an impact on inflation is not expected as retail fuel prices are not likely to be immediately increased as they have been kept stagnant even when prices were low," said Madan Sabnavis, chief economist of Bank of Baroda. Crude oil comprises about 20% of India's total import bill. India's crude oil import bill increased 2.7% to $137 billion in FY25, according to data from the Petroleum Planning and Analysis Cell. State-run oil marketing companies – Indian Oil, Bharat Petroleum and Hindustan Petroleum – have kept petrol and diesel prices unchanged since the ₹2 cut in March ahead of the elections last year. Queries mailed to the ministry of petroleum and natural gas, the finance ministry, Indian Oil, Bharat Petroleum and Hindustan Petroleum remained unanswered till publishing time. Navneet Damani, group senior VP and head of commodities research at Motilal Oswal Financial Services Ltd, said if Iran retaliates, prices would skyrocket and the worry is that the situation could escalate into a full-blown regional crisis, which would have significant implications for global oil supplies. Volatile situation "In a worst-case scenario, the Strait of Hormuz could be shut down, putting 20 million barrels per day of supply at risk. Prices have already jumped 10%, and any further escalation could push them up another 8-9%. It's a volatile situation, and everyone is holding their breath to see what happens next," Damani said. Also Read | Israel's war on Iran to hit Indian workforce A similar conflict between the two countries in October last year led to a sudden surge in prices. However, as the situation eased, so did prices. Stakeholders are now looking at how the situation evolves and how long this conflict stretches. Nikhil Dhaka, vice president at Primus Partners, said that although supplies are likely to be impacted, India's crude oil import basket is diversified with oil procured from Russia, the US and West Africa. OMCs have various options to source oil, going forward, although shipping costs of various routes need to be assessed. 'A prolonged impact on supplies through the Strait of Hormuz can significantly impact supplies globally, including India. For India, two-thirds of its oil and almost 50% of LNG flows through this route," he said. In February and March 2022, as Russia invaded Ukraine, oil prices surged to multi-year highs of $130 per barrel, which led India to release oil from its strategic reserves to meet demand. India also increased purchases from Russia starting in 2022 as it offered deep discounts amid sanctions by the European Union and the US.
India.com
21 minutes ago
- India.com
India developing hypersonic stealth missile capable of..., entire Pakistan, most parts of China...
(Representational image: AI generated) New Delhi: India will soon test the Extended Trajectory-Long Duration Hypersonic Cruise Missile (ET-LDHCM) hypersonic missile. This missile can destroy enemy targets with a speed of 11000 km/hr and a range of 1500 km. it is equipped with scramjet engine and stealth technology. The Defense Research and Development Organization (DRDO) is soon going to test the ET-LDHCM as part of Project Vishnu. This hypersonic cruise missile has been built with completely indigenous technology and keeping in mind the objective of 'self-reliant India'. It is considered to be India's most advanced hypersonic technology. It can fly more than five times faster than the speed of sound. ET-LDHCM can fly at Mach 8 i.e. eight times faster than the speed of sound and at a speed of about 11,000 km/h. Its range is more than 1500 km. With this lethal range, this cruise missile can target the whole of Pakistan and most parts of China. That is, if any target in Pakistan has to be hit, then Indian fighter jets will not need to go to Pakistan or near the international border or LOC. This missile can be fired from Sukhoi or Rafale flying over Punjab or Delhi. This missile flies at low altitude. It will not move straight in the air but will move forward in a curved manner. With this speed and stealth feature, it will completely dodge the enemy air defense system. It will not be able to tracked by the enemy radar. The ET-LDHCM hypersonic missile can carry both nuclear and non-nuclear weapons. It is capable of carrying up to 1000-2000 kg of warheads. Under the completely Make in India programme, this missile has been built by DRDO in collaboration with private industry partners at Dr. APJ Abdul Kalam Missile Complex in Hyderabad.
