Skydo: Leading Cross-Border Payments Platform for Exporters
Skydo, the cross-border payments platform catering to exporters, has successfully achieved final authorisation from the Reserve Bank of India (RBI) to function as a Payment Aggregator–Cross Border (PA-CB). Based in Bengaluru, the platform initially received in-principle approval from the RBI in January of the previous year to operate as a PA-CB entity. Furthermore, it has gained Payment Service Provider (PSP) approval from Amazon, allowing it to process payments for exporters involved in Amazon’s Global Selling programme.
According to Skydo, it stands out as one of the pioneering Cross-Border fintech firms to acquire this licence, reinforcing its commitment to establish a straightforward and effective payment infrastructure for Indian MSMEs aiming for global expansion. With the PA-CB authorisation now in place, Skydo is poised to enhance its product offerings and broaden its reach across various trade corridors.
Innovative Offerings for MSMEs
Skydo has launched several market-first features intended for India’s burgeoning MSME export sector. These include seamless local payment acceptance in challenging markets such as Africa, alongside a range of value-added services that encompass invoicing, analytics, and payment reminders.
Market Potential and Growth
Market analysis indicates that India is projected to reach $2 trillion in goods and services exports by FY30, a goal largely driven by MSMEs, freelancers, and digital-first startups. Co-founded in 2022 by Srivatsan Sridhar and Movin Jain, Skydo simplifies the movement of global funds for businesses.
The platform’s comprehensive stack covers global collections, payouts, card acceptance, compliance automation, and APIs tailored for developers. With Skydo, exporters can collect payments locally from international clients, featuring transparent flat-fee pricing, no markup on live mid-market foreign exchange rates, and quick settlement processes.
Comprehensive Compliance and Accounts-Receivable Tools
Skydo enables instant access to compliance documents such as FIRC through in-depth integration with partner banks. Additionally, it provides a full range of accounts-receivable tools, including invoicing, payment reminders, and ledgering, along with integration capabilities for ERP and accounting systems.
The platform proudly claims to serve over 30,000 Indian MSMEs, freelancers, and startups across more than 50 cities, facilitating collections in over 32 currencies.