Story thread · 9 reports / 9 sources

Reliance Jio launches cross-border payments

economictimes.indiatimes.com · 5dShare

New Delhi: Jio Payment Solutions Ltd (JPSL), a wholly-owned subsidiary of Jio Financial Services, on Wednesday announced the launch of its cross-border payment platform to help Indian exporters accept international payments from global customers and boost their global competitiveness.Through Jio Payment Solutions Ltd's (JPSL) new facility, domestic exporters can accept international payments via virtual accounts, international cards, and local payment rails.The launch follows the receipt of authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for Cross-Border (PA-CB) transactions, covering exports and imports, JPSL said in a statement.As more Indian businesses, including online sellers, digital businesses, freelancers, creators, and SaaS companies, scale globally, collecting international payments remains a fragmented and complex process, it said.It often involves multiple partners, different currencies, endless paperwork, and manual reconciliation.JPSL

First report: Citi and DBS Mark 1st Singapore-to-US Weekend Dollar Transaction — pymnts.com, 7d