Jio Payment Solutions Ltd (JPSL), a wholly-owned subsidiary of Jio Financial Services, launches a cross-border payment platform aimed at helping Indian exporters receive payments from customers in international markets. The company says the service supports multiple payment channels, including multi-currency virtual accounts, international cards and local payment rails.
The launch follows authorisation from India’s Reserve Bank of India (RBI) for JPSL to operate as a Payment Aggregator for Cross-Border (PA-CB) transactions, covering both exports and imports. Across reports, the stated goal is to make global payment collections simpler for businesses that are expanding abroad, including online sellers, digital businesses, freelancers, creators and SaaS companies.
Outlets also highlight that receiving international payments has typically been fragmented, involving multiple intermediaries, different currencies, compliance steps, and manual reconciliation. JPSL positions the platform as a way to consolidate collections on a single system and enable overseas customers to use payment methods they are familiar with, reducing reliance on traditional channels such as SWIFT or correspondent banking. The service is described as expanding Jio’s broader payments suite for enterprises undertaking permitted current-account transactions.
