India, Dec. 9 -- Fintech startup Airpay Payment Services has become the latest entity to secure the Reserve Bank of India's (RBI) cross-border payment aggregator (PA-CB).

With the regulatory approval that enables it to facilitate digital payments for Indian merchants domestically and globally, Airpay is expecting a 30-40% increase in transaction processing volumes (TPV) over the next 6-12 months. In this, it expects cross-border payments to contribute more than 20% of its overall revenue moving forward.

The fintech startup also expects to onboard over 50,000 new merchants moving forward.

"RBI's approval strengthens our ability to provide Indian businesses a regulated yet seamless bridge to make or collect payments from Mumbai, Manipur ...