Cashfree Payments has announced a collaboration with J.P. Morgan Payments to simplify and secure cross-border payment flows for international businesses selling into India. As part of the partnership, J.P. Morgan Payments will act as an Authorised Dealer Category-I (AD-I) bank for Cashfree, enabling the processing of import transactions under the Reserve Bank of India’s Master Direction on Regulation of Payment Aggregators.
The arrangement is designed to remove long-standing barriers faced by global brands, including the need to establish a local entity, navigate complex regulatory requirements, or manage manual approvals for high-value imports. By working together, the two companies aim to offer compliant, transparent and dependable settlement rails for businesses seeking to serve India’s rapidly expanding digital consumer base.
Akash Sinha, Chief Executive and Co-founder, Cashfree Payments, said the collaboration reflects a decisive move towards creating a borderless digital commerce environment. He noted that the combination of J.P. Morgan Payments’ global scale with Cashfree’s domestic expertise will allow international businesses to enter India with greater confidence and efficiency.
India’s cross-border e-commerce market is growing quickly, yet international merchants continue to face challenges relating to settlement timelines, currency conversion and regulatory approvals. The new partnership seeks to address these by providing end-to-end compliance, clearer settlement pathways and a more reliable payment infrastructure for imports routed into the country.
Christine Tan, Head of Financial Institutions Group Sales, Asia Pacific, J.P. Morgan Payments, said India’s rise as a major digital commerce hub makes effective and secure cross-border payment capabilities increasingly essential. She added that the collaboration will allow global businesses to serve Indian consumers more seamlessly.
The announcement follows Cashfree Payments’ continued focus on innovating within the cross-border landscape. The company is the first non-banking entity to receive the RBI’s PA-CB licence for both import and export transactions and processes transactions for more than 800,000 businesses annually.
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