Jio Finance takes on cross-border payments: Jio Payment Solutions launches global collections for Indian exporters

Jio Payment Solutions Limited (JPSL), a wholly owned subsidiary of Jio Financial Services, has entered the cross-border payments space, launching services that will allow Indian businesses to accept international payments from customers worldwide. The move comes after the company received authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for Cross-Border (PA-CB) transactions covering both exports and imports.

With the new offering, Indian exporters can collect overseas payments through multi-currency virtual accounts, international cards and local payment rails. JPSL said its solutions are designed to simplify what can often be a fragmented process involving multiple partners, currencies, paperwork and manual reconciliation.

The launch expands JPSL's existing payments business. The company already operates as a Payment Aggregator for online and physical Point-of-Sale (PoS) transactions. With cross-border payments, it now offers a broader payments suite covering digital commerce, physical retail and international e-commerce payments for permitted current-account transactions.

Jio targets 50% of India's export footprint

One of the key claims made by JPSL is the reach of its cross-border payments offering. The company said its solutions currently cover around 50% of India's total export footprint. Indian merchants exporting to markets including the US, UK, Europe, UAE, Singapore, Malaysia and Australia can quote prices in local buyer currencies and collect payments through local payment methods.

JPSL also plans to introduce additional local payment methods across Latin America, Southeast Asia and the Middle East in the coming months.

The platform is aimed at businesses of different sizes, from MSMEs and emerging exporters to larger digital enterprises. Integration options include hosted checkouts, payment links, recurring invoicing, embedded software development kits, secure payment screens and white-label APIs.

T+2 settlement, same-day FIRA/eFIRA

For merchants, JPSL said its cross-border solution offers transparent pricing and T+2 settlement without a rolling reserve, allowing businesses to receive their full settlement amount each cycle.

The company has also built compliance and security features into the platform, including end-to-end encryption, localised data storage and transaction monitoring. It said FIRA/eFIRA documentation can be delivered within the same working day, while single-click audit artifacts are designed to simplify accounting and reconciliation.

JPSL has partnered with Citi for Authorised Dealer Category-1 and export collection account services, with the bank's global clearing network and compliance capabilities supporting the offering.

The launch marks a significant expansion of Jio's payments ambitions, taking JPSL beyond domestic digital and PoS transactions and deeper into the infrastructure powering Indian businesses' participation in global commerce.