The Reserve Bank of India (RBI) has granted Skydo, a cross-border payment platform for exporters, final authorization to function as a Payment Aggregator–Cross Border (PA-CB).

Key Highlights

• Skydo received final RBI authorisation, allowing it to officially offer regulated cross-border payment services.
• Approval strengthens Skydo’s position in India’s fintech ecosystem and global payment infrastructure expansion.

In January of last year, the Reserve Bank of India (RBI) granted the Bengaluru-based platform in-principle license to function as a Payment Aggregator-Cross Border (PA-CB) firm. Additionally, it has obtained Amazon's Payment Service Provider (PSP) clearance, allowing it to handle payments for exporters taking part in Amazon's Global Selling initiative.

Skydo claims to be one of the first cross-border fintechs to obtain this license, and said it intends to create an easy-to-use payment system that would enable Indian MSMEs to expand internationally. 

Skydo will continue to broaden its product offerings and increase coverage across more trade corridors after receiving the final PA-CB authorization. For India's expanding MSME export industry, Skydo has launched a number of first-to-market products, such as a suite of value-added services including invoicing, analytics, and payment reminders, as well as smooth local payment acceptance in challenging corridors like Africa.

According to market research, MSMEs, independent contractors, and digital-first startups will fuel India's $2 trillion in exports of products and services by FY30.

Skydo is a cross-border payments platform that makes international money transfers easier for companies. It was co-founded in 2022 by Srivatsan Sridhar and Movin Jain. Global collections, payouts, card acceptance, compliance automation, and developer-first APIs are all included in its single stack. With transparent flat-fee pricing, no markup on real mid-market FX rates, and quick settlements, the platform allows exporters to collect locally from foreign clients.

Also Read: Paytm Receives RBI Nod for Offline & Cross-Border Payments

Skydo delivers a comprehensive suite of Accounts-Receivable solutions, including invoicing, payment reminders, ledgering, and interaction with ERP/Accounting, as well as rapid access to compliance papers like FIRC through deep integration with partner banks.

According to the platform, it supports collections in over 32 currencies and serves over 30,000 Indian MSMEs, freelancers, and startups in more than 50 cities.