airpay Payment Services has secured approval from the Reserve Bank of India (RBI) to operate as a cross-border payment aggregator, completing its authorisations under the unified payment aggregator (PA) framework. With this, the company is licensed to operate across PA-O (online), PA-P (physical/POS/QR) and PA-CB (cross-border) categories.
The approvals will allow it to offer collections, payouts and settlements for Indian enterprises, D2C brands and SMEs selling both within India and overseas.
The PA-CB framework brings cross-border payment facilitation under direct RBI supervision with requirements around governance standards, escrow management and foreign-exchange regulations.
Founded in 2012, airpay is a homegrown full-stack payments infrastructure provider for Indian enterprises, D2C brands and SMEs, a single compliant platform for collections, payouts and settlements. airpay operates in UPI acquiring, QR, payment links, PoS and merchant lifecycle management.
The company expects this launch to accelerate scale, projecting a 30–40% rise in processing volumes over the next 6-12 months and anticipating 20%+ revenue contribution from cross-border flows alongside onboarding 50,000+ merchants in the same period.
Kunal Jhunjhunwala, Founder of airpay Payment Services, said, “Indian business growth is no longer domestic-only. Our exporters, SaaS firms, digital merchants and local retailers are all engaging globally, and they need reliability, compliance and speed in payments. RBI’s approval positions us to support that shift responsibly and at scale. It strengthens our ability to provide Indian businesses a regulated yet seamless bridge to make or collect payments from Mumbai, Manipur or to Madrid.”
