India’s digital payment landscape has evolved at an unprecedented pace over the past decade. The introduction of the Unified Payments Interface (UPI), increasing smartphone penetration, and government-led initiatives like Digital India have revolutionized how people transact. As India moves towards a…
Regulating Cross-Border Payments: Understanding RBI’s Payment Aggregator (PA-CB) Framework
In October 2023, the Reserve Bank of India (RBI) introduced a comprehensive framework to regulate entities facilitating cross-border online payment transactions for the import and export of permissible goods and services. These entities are designated as Payment Aggregators – Cross Border…