Skydo Gets RBI Approval for Cross-Border Payment Operations

India’s fintech ecosystem recorded a regulatory milestone as Skydo received final authorisation from the Reserve Bank of India to operate as a Payment Aggregator–Cross Border (PA-CB). The approval allows the Bengaluru-based platform to expand regulated cross-border payment services for Indian exporters, particularly small and medium businesses seeking simplified international collections.

RBI Licence and Its Significance

The final nod from the Reserve Bank of India positions Skydo among the first fintech firms in the country to secure the PA-CB licence. The authorisation enables the company to facilitate compliant cross-border payment aggregation under India’s evolving digital payments framework. The move is seen as strengthening regulatory oversight while improving confidence among exporters and overseas partners.

Services for Exporters and MSMEs

Skydo currently serves more than 30,000 MSMEs, freelancers, and startups across over 50 Indian cities. The platform supports collections in more than 32 foreign currencies and allows exporters to receive payments locally from overseas clients. Its model offers flat-fee pricing, no markup on live mid-market foreign exchange rates, and faster settlement cycles. It also provides instant access to compliance documentation through integrations with partner banks.

Product Expansion and Global Corridors

Following the RBI authorisation, Skydo plans to deepen its product offerings and widen coverage across additional trade corridors. The company has already enabled local payment acceptance in complex regions such as Africa. Its value-added tools include invoicing, payment reminders, analytics, ledgering, and integration with ERP and accounting systems, aimed at improving cash-flow visibility for exporters.

Imporatnt Facts for Exams

• PA-CB stands for Payment Aggregator–Cross Border under RBI regulations.
• RBI regulates payment systems under the Payment and Settlement Systems Act, 2007.
• MSMEs are a key focus area in India’s foreign trade policy.
• Cross-border payments involve foreign exchange and compliance under FEMA.

Funding and Growth Targets

Skydo recently raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital, with participation from Elevation Capital. This takes its total funding to $20 million. The company has set an ambitious target of achieving $5 billion in annualised payment volumes by 2027, reflecting growing demand for compliant digital export payment solutions.