rivexa unveils new cross-border payment solution to boost ease of doing business for Indian exporters

THEBUSINESSBYTES BUREAU

KOLKATA, NOVEMBER 25, 2025

rivexa, the export facilitation platform by mjunction Services Ltd., has launched a new seamless cross-border trade payment solution aimed at modernising and simplifying global transactions for Indian exporters. Built on the regulatory ecosystem shaped by the International Financial Services Centres Authority (IFSCA), the solution seeks to reduce settlement delays, improve traceability, and ease compliance burdens for exporters registered on the platform.

The announcement was made during rivexa’s flagship outreach event, ‘rivOlution 2025: Demystifying the World of Export and Finance’, held in Kolkata last week in collaboration with IFSCA, RXIL Global IFSC Ltd. and Glomopay Pvt. Ltd. The event saw participation from senior officials of all three partner organisations along with rivexa’s growing exporter community.

Vinaya Varma, Managing Director of mjunction Services Ltd., said the initiative is a significant step toward building a friction-free export ecosystem. “This initiative reflects our continued effort to simplify the export journey for Indian manufacturers. By working within the IFSCA framework and strengthening rivexa’s payment infrastructure, we aim to reduce friction in cross-border transactions and enable MSMEs to operate with greater clarity and confidence,” he said.

The IFSCA, India’s unified regulator for International Financial Services Centres, plays a key role in developing globally aligned financial services in hubs such as the Gujarat International Finance Tec-City (GIFT City). RXIL Global, operating under the ITFS (International Trade Financing Services) framework, provides exporters access to global trade finance through invoice discounting and cross-border receivables financing. Glomopay, a licensed fintech player, specialises in compliant cross-border transaction infrastructure and multi-currency payment solutions.

The conference delved into the transformation of India’s regulatory and financial architecture for exporters, particularly opportunities emerging from GIFT City. Experts explained how ITFS platforms are expanding access to global trade finance by connecting exporters to international financiers, enabling faster invoice discounting, factoring and competitive rate discovery.

IFSCA representatives highlighted new measures to strengthen the global financing framework for Indian businesses, including enabling foreign currency accounts through IFSC Banking Units. These reforms, they said, help exporters better manage receipts, hedge forex exposures, and reduce friction associated with traditional international settlements.

Participants were also updated on how digital-first platforms under the ITFS framework have been supporting MSMEs with faster financing cycles, predictable cash flows and improved compliance readiness.

A key highlight of the event was the formal announcement of rivexa’s partnership with Glomopay Pvt. Ltd., enabling exporters to manage cross-border collections more seamlessly.

Through this integration, exporters on rivexa can now receive payments in multiple foreign currencies and repatriate funds into their authorised dealer (AD-I) banks in India. The system also standardises foreign bank charges and ensures reduced settlement delays, offering greater visibility and control over every transaction.

A major feature is the automated generation of Foreign Inward Remittance Advice (FIRA) — the mandatory bank document certifying receipt of foreign exchange for export transactions. This automation is expected to significantly ease reconciliation, compliance, and tracking challenges that exporters, especially MSMEs, have long grappled with.

The collaboration is positioned as a meaningful step toward modernising India’s export payment infrastructure, giving manufacturers and traders a clearer, faster and more transparent pathway to manage global receivables.