Indian fintech firm Cashfree Payments, backed by the State Bank of India, is planning a major expansion of its cross-border business by entering new segments such as overseas investment, travel payments, and business-to-business transactions.
According to CEO Akash Sinha, the company is preparing to launch pilot projects for these services later this year, marking a strategic move beyond its existing focus on cross-border e-commerce payments. Speaking to Reuters, he said the growing integration of India with the global economy, driven by trade agreements and increasing international mobility, is creating strong demand for seamless global payment solutions.
Sinha noted that the cross-border payments space presents significant opportunities, describing it as a rapidly expanding market rather than a challenging one. He highlighted that Indian payment firms are increasingly focusing on this segment as outbound travel, overseas education, and global investments continue to rise.
Unlike domestic payment processing, where intense competition has compressed margins, cross-border transactions typically offer higher profitability due to foreign exchange components and additional regulatory requirements. Cashfree aims to build robust payment infrastructure that simplifies international transactions while making them more cost-effective and operationally efficient for both consumers and businesses.
The company, which currently holds a cross-border payments aggregator licence from India’s financial regulator, expects its international business to grow substantially. It projects that cross-border operations could contribute around 25 per cent of total revenue within the next three to four years, up from about 10 per cent at present.
