Cross-border payments platform Xflow announced a partnership with HSBC on Friday at Global Fintech Fest 2026 in Mumbai. According to reports from Live Mint, the collaboration enables global businesses to collect payments from Indian customers using UPI, cards and net banking without establishing a local entity. The partnership was unveiled on September 10, 2026, at the fintech fest in Mumbai, addressing significant challenges in international payments to India where less than 70% of international card transactions succeed due to card limitations for overseas spending. The announcement comes as part of broader cross-border finance developments at the fintech fest, with the partnership designed to enable overseas businesses to accept local payment methods without setting up an entity in India.
The partnership addresses substantial challenges in international payments to India, where less than 70% of international card transactions succeed due to card limitations for overseas spending. As reported by Live Mint, recurring payments face additional hurdles from India's data and mandate requirements. UPI accounts for approximately 85% of India's digital payment volumes, with transactions using local payment methods achieving success rates of more than 95%. This conversion of cross-border payments into local transactions enables higher checkout conversions for international merchants, with the solution designed to allow overseas businesses to accept local payment methods without setting up an entity in India. The platform enables payments to be settled in major currencies to global destinations, addressing previous barriers of slow, expensive, and paperwork-heavy bank wire transfers.
The collaboration particularly benefits global companies in high-demand categories including physical goods, SaaS, artificial intelligence, consumer technology, online travel platforms, and edtech. According to Live Mint, international businesses can access India's large consumer market without local entity establishment or additional regulatory requirements. The partnership enables merchants to receive settlements in major currencies and send funds worldwide at competitive rates, addressing previous barriers of slow, expensive, and paperwork-heavy bank wire transfers. The offering is aimed at businesses such as SaaS and technology platforms, online travel companies, edtech providers and merchants selling physical goods to Indian customers, with the solution designed to make cross-border payments as seamless as domestic transactions while removing key barriers faced by international businesses in India.
Ashwin Bhatnagar, Co-founder & CEO of Xflow, emphasized the partnership's significance for global merchants who have historically lost customers due to payment collection difficulties. As reported by Live Mint, Bhatnagar stated that the collaboration enables international businesses to accept payments from Indian buyers as easily as domestic merchants, with local payment methods, high success rates, and compliance fully handled. The solution aims to make cross-border payments as seamless as domestic transactions while removing key barriers faced by international businesses in India, with the partnership representing a significant step forward in enabling global commerce with India's digital payment infrastructure.
