Jio Payment Solutions launches cross-border collection platform for Indian exporters
The RBI-authorised platform offers multi-currency virtual accounts, cards and local payment rails for export collections. Citi will support collection accounts, compliance checks and global clearing, with T+2 settlement and same-day FIRA/eFIRA documentation.
What happened
Jio Payment Solutions Limited · Jio Payment Solutions launched RBI-authorised cross-border payment aggregation for Indian exporters, enabling multi-currency
Key facts
- Around 50% of India's total export footprint
- T+2 settlement
- FIRA/eFIRA documentation within the same working day
Why this matters
Jio's Citi partnership signals a build-and-partner model for cross-border payments, making bank alliances and export-platform integrations key routes to scale.
What to watch
- Number and type of supported currencies, local collection rails and export corridors.
- Published FX spreads, account fees, transaction limits and T+2 settlement performance.
- Merchant onboarding volumes and share of MSME versus enterprise exporters.
- Launch of trade credit, invoice financing or working-capital offers tied to collection data.
- Integrations with ecommerce platforms, accounting software, ERPs and export-compliance providers.
- RBI guidance or enforcement changes affecting payment aggregators, export proceeds and virtual accounts.
- Competitive responses from banks, Payoneer, Wise, Razorpay, Cashfree and other cross-border payment providers.
- Add corridor-specific pricing and FX-rate guarantees for major export markets including the US, UK, EU and Gulf.
- Bundle eFIRA/FIRA automation with GST, invoicing, ERP and marketplace integrations.
- Use collection flows to offer pre-shipment and post-shipment working-capital products through Jio Financial.
- Target Shopify, Amazon, Etsy, B2B SaaS and Indian marketplace exporters with embedded onboarding.
- Expand bank, correspondent and local-rail partnerships beyond Citi to improve currency coverage and settlement resilience.