Indian payments platform BRISKPE has secured an in-principle authorisation from the Reserve Bank of India (RBI) to function as a payment aggregator for cross-border (PA-CB) transactions, reported The Economic Times.
This allows the company to facilitate both export and import payments under the Payment and Settlement Systems Act, 2007, aligning with the RBI’s updated regulatory framework introduced in October 2023.
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The authorisation enables BRISKPE to expand its operations as a PA-CB, catering to the needs of micro, small, and medium enterprises (MSMEs) engaged in international trade.
The Economic Times quoted the company as saying: “With this approval, BRISKPE is equipped to provide seamless solutions for businesses struggling with inefficient international payment systems.”
BRISKPE CEO Sanjay Tripathy added: “Receiving the RBI’s in-principle PA-CB authorisation, especially encompassing both exports and imports, is a transformative moment for BRISKPE and Indian businesses engaged in global trade.”
The company, which specialises in cross-border payments, operates a platform that currently processes around 10,000 transactions monthly for export services.
BRISKPE anticipates an increase to 100,000 transactions by the end of the next financial year, the release added.
BRISKPE introduced an unified cross-border payment platform, offering payment solution that integrates account-to-account transfers with card collections, powered by PayU and PayPal.
The platform is tailored to support exporters, service providers, marketplace sellers, and freelancers in managing their international transactions efficiently.
Established in 2023, the company secured $5m in seed funding from PayU India in April 2024.
According to BRISKPE’s website, the platform allows users to receive funds in six major currencies, including USD, CAD, AUD, Singapore Dollar, GBP, and Euro.
