Jio Payment Solutions Limited, a subsidiary of Jio Financial Services, launched a cross-border payments service following Reserve Bank of India authorization. The platform allows Indian exporters to accept international payments via virtual accounts and cards.
CEO Hitesh Sethia announced plans at the Global Fintech Fest to expand the company's customer base from 25 million to 100 million. This growth is targeted for completion within the next year.
The company will leverage the Jio ecosystem and partnerships with BlackRock and Allianz to drive expansion. Jio Financial Services shares were trading down 0.55% as of mid-day.