Payoneer India Gets RBI Nod as PA-CB: Rules for Cross-Border Aggregators
Why in the news
RBI has given Payoneer India Pvt. Ltd. an in-principle go-ahead to operate as a cross-border payment aggregator, covering both export receipts and import payments.
About the approval
- Supports end-to-end cross-border payments: Indian exporters collecting foreign funds and importers paying abroad.
- Aimed at MSMEs, startups and export-oriented firms joining global value chains.
Rules for non-bank PA-CBs
| Rule | Requirement |
|---|---|
| Authorisation | RBI approval is compulsory |
| Net worth | ₹15 crore at the start; ₹25 crore by end of third year |
| Transaction limit | ₹25 lakh per transaction |
| Accounts | Separate accounts for imports and exports |
| Netting | Not allowed |
Exam angle
- Full form: PA-CB means Payment Aggregator – Cross Border.
- Authority: RBI.
- Limit to recall: ₹25 lakh per transaction.