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PayPal Payments (PayPal), the Indian subsidiary of PayPal Holdings, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a cross-border payment aggregator (PA), the company said in a statement.
Another fintech company, Worldline ePayments India, announced that the central bank has approved its licence to operate as a cross-border PA under the Payment and Settlement Systems Act, 2007.
This authorisation enables the companies to facilitate cross-border online transactions for the import and export of goods and…
