New Delhi, Dec. 10 -- airpay Payment Services announced it has received the Reserve Bank of India's approval to operate as a cross-border payment aggregator. Following the regulator's nod, the company now has the license to operate and process online, physical, and cross-border payments.

With the approval in place, airpay has forecast a 30-40% rise in processing volumes over the next year or so, and over 20% increase in revenue from cross-border flows. The company aims to onboard more than 50,000 merchants during the same period.

"Our exporters, SaaS firms, digital merchants, and local retailers are all engaging globally, and they need reliability, compliance, and speed in payments," said Kunal Jhunjhunwala, Founder, airpay Payment Serv...