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

Banking & Finance | Dated: 08 Jun 2025

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.

🎯 Key Highlights:

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

💡 Other Important Facts:

  • (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.

📚 Test Your Knowledge:

Which company recently received RBI approval to operate as a cross-border payment aggregator?

Correct Answer: Wise

🚀 Quick Recap: