Cashfree chases profit as it eyes $300 mn cross-border payments

Payments aims to hit $250-$300 million in monthly cross-border transactions by the end of the year, according to one of the co-founders.

- Rwit Ghosh

"We're trying to create the market, given that the payment aggregator-cross border (PA-CB) guidelines are so new. We are signing up customers but they're also adapting to the new regime," Cashfree co-founder and chief executive officer Akash Sinha told Mint in an interview.

The Reserve Bank of India (RBI) issued the PA-CB guidelines in October to facilitate payments for the import and export of goods and services. The RBI gave Cashfree a PA-CB licence in July 2024.

Cashfree is focusing this year to build its cross-border payments vertical for which it will use the $53 million raised from South Korean gaming giant Krafton and Apis Partners.