5 FinTechs offering B2B cross-border payment solution in India

By Gloria Mathias

The digital payments landscape in India has undergone significant change in recent years, driven by technological advancements, government initiatives, and changing consumer behaviour. As one of the fastest-growing economies globally, India has witnessed a rapid adoption of digital payment solutions across various sectors.

Cross-border payments are trending businesses in India primarily due to the country’s growing participation in the global economy. With the increasing globalization of trade and commerce, Indian businesses are expanding their operations internationally, necessitating efficient payment solutions to facilitate transactions across borders.

Additionally, the rise of eCommerce has further fuelled the demand for cross-border payments, enabling Indian businesses to engage with overseas suppliers and cater to customers in international markets. Access to global markets has become crucial for Indian businesses seeking growth opportunities beyond domestic borders. Cross-border payment solutions offer the flexibility to transact in multiple currencies and jurisdictions, supporting businesses in their efforts to access new markets, expand their customer base, and drive international growth.

Listed below are 5 FinTechs offering cross-border payments to businesses in India:

• BriskPe

BriskPe is a cross-border payments platform that provides businesses and freelancers with multi-currency payment accounts, payment tracking, and more. The platform is designed to meet the needs of micro, small, and medium enterprises (MSMEs).

• LeRemitt

LeRemitt is a cross-border platform designed to serve the needs of MSMEs in International Trade. By focusing on cross-border remittances, LeRemitt aims to provide businesses with a seamless and efficient solution for transferring funds across borders, laying the foundation for a broader range of services designed to empower businesses engaged in global trade.

• PayGlocal

PayGlocal is a global payments company that fosters cross-border business and global commerce for the Indian ecosystem. Its suite of offerings facilitates cross-border payments and solves the challenges surrounding them through three main pillars: the business, the experience, and the associated risk.

• XFlow

Xflow is a technology company that builds cross-border payment infrastructure that enables businesses to send and receive money globally in a simple, reliable, transparent, and compliant way. It helps businesses to access global markets of demand, supply, or labour by making cross-border payments as easy and reliable as domestic payments. Xflow is built primarily for the developer. Through developers, Xflow enables cross-border payments for startups, growth companies, aggregators, and enterprises alike.

• Salt

Salt is a platform that aims to simplify and streamline cross-border payments for businesses. It offers services related to international payments, currency exchange, and financial technology solutions. It is a neo-banking solution stitched together to ease payments and documentation associated with business banking by moving it to a digital-first and automated end-to-end platform.