Global technology company Wise on Tuesday said it has received in-principle approval from the Reserve Bank of India to operate as a cross-border payment aggregator.
The company said the development reinforces its growing presence in India, where it currently facilitates around 10 per cent of all inbound international remittances.
"Today's announcement marks another step forward in our mission to give Indians a faster, cheaper, more transparent alternative for their cross-border payment," S K Saraogi, APAC Head of Expansion, Wise, said.