EximPe Gets Final PA-CB Licence to Process UPI Cross-Border Payments

Why It Matters

The licence removes a major regulatory hurdle, allowing faster, cheaper cross‑border collections for global merchants and boosting India’s outbound e‑commerce. It also positions EximPe to capture a sizable share of the emerging UPI‑based international payment market.

Key Takeaways

• EximPe receives RBI PA-CB licence for cross‑border UPI.
• Enables global merchants to collect Indian payments without local entity.
• Targets $1 billion annual UPI cross‑border volume in 24 months.
• Previously facilitated $500 million in bank‑led Asian trade payments.
• RBI’s broader PA‑CB approvals expand India’s cross‑border payment ecosystem.

Pulse Analysis

India’s payments regulator has been steadily expanding the Payment Aggregator Cross‑Border (PA‑CB) framework, a move that reflects the country’s ambition to become a global hub for digital commerce. By granting licences to firms like EximPe, the RBI is formalising a pathway for international merchants to tap into the country’s massive UPI user base without the cost and complexity of setting up a local subsidiary. This regulatory clarity is expected to accelerate the adoption of UPI for cross‑border settlements, complementing the rapid domestic growth of the platform, which now processes billions of transactions daily.

EximPe’s transition from a technology service provider to a full‑stack cross‑border aggregator underscores the strategic value of the PA‑CB licence. Having already facilitated more than $500 million in bank‑led trade payments across key Asian corridors, the startup is leveraging its existing network to offer merchants a seamless checkout experience that includes UPI, cards, wallets, net‑banking and bank transfers. The company’s $3.5 million seed funding provides the runway to scale operations, and its ambitious target of $1 billion in annualised UPI‑driven cross‑border volume signals confidence in both market demand and the scalability of its platform.

The broader industry impact is significant. Alongside peers such as Razorpay, Paytm, PayU and Pine Labs, EximPe’s licence contributes to a burgeoning ecosystem where payment aggregators can serve e‑commerce, in‑store and cross‑border transactions under a unified regulatory umbrella. This convergence is likely to drive higher payment success rates, lower transaction costs, and greater compliance for global merchants entering the Indian market. As more firms obtain PA‑CB authorisations, competition will intensify, prompting innovation in settlement speed, currency conversion and fraud mitigation, ultimately cementing India’s role as a pivotal node in the global digital payments network.