THEBUSINESSBYTES BUREAU

MUMBAI, SEPTEMBER 9, 2026

Jio Payment Solutions Limited (JPSL), a wholly owned subsidiary of Jio Financial Services Limited, has launched cross-border payment services, giving Indian exporters a new platform to accept international payments through virtual accounts, international cards and local payment rails as businesses increasingly look to tap global markets.

The launch comes after JPSL received authorisation 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 move comes at a time when Indian online sellers, digital businesses, freelancers, creators and SaaS companies are rapidly expanding overseas, but continue to grapple with fragmented payment infrastructure, multiple currencies, paperwork and cumbersome reconciliation. JPSL said its new platform is designed to bring global collections, compliance and settlement onto a single technology platform while allowing businesses to offer customers their preferred local payment methods.

A key proposition is its multi-currency virtual account infrastructure, which enables international buyers to make payments without having to navigate SWIFT or correspondent banking channels.

JPSL said its cross-border payment solutions currently cover around 50% of India’s total export footprint, enabling merchants selling to markets such as the US, UK, Europe, UAE, Singapore, Malaysia and Australia to quote prices in local currencies and collect payments seamlessly. The company plans to add more local payment methods across Latin America, Southeast Asia and the Middle East in the coming months.

The platform is being positioned as a broad-based solution for businesses of different sizes, from MSMEs and emerging exporters to large digital enterprises. Integration options include hosted checkouts, payment links, payment pages, recurring invoicing, embedded software development kits, secure embedded payment screens and white-label APIs.

JPSL is also pitching faster and more predictable settlement as a key differentiator. Its cross-border solution offers transparent pricing and T+2 settlement without a rolling reserve, allowing merchants to receive their full settlement amount each cycle and improve cash-flow management.

Compliance and security form another pillar of the offering. Built in line with applicable RBI guidelines, the platform features end-to-end encryption, localised data storage and transaction monitoring. JPSL said it can provide Foreign Inward Remittance Advice (FIRA) and eFIRA documentation within the same working day, while single-click audit artefacts are designed to streamline accounting and reconciliation.

The company said merchants can complete onboarding through a fully digital process and gain real-time visibility into transactions and settlements through a dashboard. A dedicated relationship manager will also provide payment-related support.

 “Indian businesses are playing a larger role in the global digital economy, amidst a hyper-competitive, dynamic, and volatile international landscape,” said Kashinath Hariharan, MD & CEO, Jio Payment Solutions. “Given this, we are solving for friction, transparency, flexibility & certainty in payment solutions, thus enabling a business’s true edge.”

Hariharan said JPSL’s cross-border capabilities combine Jio’s trusted brand with a scalable technology stack to bring global acceptance, compliance and operational efficiency onto a single platform.

JPSL has partnered with Citi for its Authorised Dealer Category-1 and export collection account services. The partnership leverages Citi’s global clearing network, automated compliance capabilities and rapid settlement infrastructure.

 “Enabling ease of cross-border trade for Indian merchants selling their products and services overseas is a key priority for Citi India,” said Mridula Iyer, Asia South Head of Services, Citi. She said Citi’s global clearing network would help Indian exporters and digital businesses collect international payments at scale, adding that the partnership would connect domestic innovation with global financial ecosystems.

The cross-border launch expands JPSL’s existing payments portfolio, which already includes Payment Aggregator services for online and physical point-of-sale transactions. With the new offering, the company now has a payments suite spanning digital commerce, physical retail and international e-commerce payments for permitted current-account transactions.