Jio Payment Solutions Limited (JPSL) launched cross-border payments on Wednesday, September 9, marking a significant expansion of its payment services portfolio. According to reports from CNBC TV18 and The Economic Times, the launch follows authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for Cross-Border (PA-CB) transactions, covering both exports and imports. The Jio Financial Services Limited subsidiary now provides a payments suite spanning digital commerce, physical retail and international e-commerce for permitted current account transactions.
As reported by CNBC TV18 and The Economic Times, JPSL's cross-border payment platform allows businesses to collect international payments through multi-currency virtual accounts, international cards and local payment rails. The company stated that its solutions cover around 50 per cent of India's total export footprint, with merchants exporting to markets including the US, UK, Europe, UAE, Singapore, Malaysia and Australia able to quote prices in local currencies and collect payments. The service caters to businesses including online sellers, digital businesses, freelancers, creators and SaaS companies, addressing the fragmented and complex process of collecting international payments that often involves multiple partners, different currencies, endless paperwork, and manual reconciliation.
According to CNBC TV18, JPSL offers integration options including hosted checkouts, payment links and pages, recurring invoicing, embedded software development kits, secure payment screens and white-label APIs. The platform provides T+2 settlement with no rolling reserve and end-to-end encryption, localised data storage and transaction monitoring. FIRA/eFIRA documentation will be made available within the same working day, while merchants can onboard digitally and track transactions and settlements through a real-time dashboard. The platform offers transparent pricing and enables merchants to receive their full settlement amount every cycle, improving cash flow management for businesses.
As reported by CNBC TV18 and The Economic Times, JPSL has partnered with Citi for Authorised Dealer Category-1 and export collection account services. The partnership will support international payment collection through Citi's global clearing network, automated compliance checks and settlement services. Mridula Iyer, Asia South Head of Services at Citi, stated that this synergy helps connect domestic innovation with global financial ecosystems. JSPL MD & CEO Kashinath Hariharan emphasized that by anchoring cross-border capabilities in Jio's trusted brand alongside a scalable tech-stack, the company is bringing together global acceptance, compliance and operational efficiency onto a single platform. In coming months, JPSL will keep launching newer local payment methods across Latin America, Southeast Asia, and the Middle East to expand its global reach.
