India, March 12 -- BRISKPE has received an in-principle authorisation from the Reserve Bank of India to operate as a cross border payment aggregator.

The Mumbai-based fintech said in a statement that the move will now enable it to operate as a dedicated payment aggregator-cross border (PA-CB) for import and export in the country under the Payment and Settlement Systems Act, 2007.

Further, the startup will now operate export and import collection accounts with category-I banks of the country to enable businesses to make secure payments.

Category-I banks are RBI licensed institutions who can deal in buying and selling of foreign exchange.

"Receiving the RBI's in-principle PA-CB authorisation, especially encompassing both exports and imp...