India, Dec. 2 -- Amid aggressive international expansion, fintech major Razorpay has received the Payment Aggregator-Cross Border (PA-CB) licence from the Reserve Bank of India (RBI). The regulatory nod will allow it to facilitate both inward and outward cross-border payments internationally.

In a social media post, cofounder and MD Shashank Kumar said the licence marks a significant step toward bringing Razorpay's vision of building a global payments network from Asia much closer to reality.

"We're already the largest non-bank cross-border payments player in India powering global brands we all know - Airbnb, Agoda, Shopify, IndiGo, and many more - and this license helps us scale that impact further," his post read.

The Bengaluru-based...