From viral TIRTIR foundations, a Korean make-up product, to Nike Air Force 1 shoes and Karl Lagerfeld luxury bags, global brands have never failed to fascinate Indian consumers. Yet, making an international purchase online often proves messy, as transactions drag, checkouts falter and hidden fees pile up.

In simple terms, India’s cross-border ecommerce is exploding. Aspirational buyers are reaching beyond domestic platforms for luxury and practical goods — from apparel and accessories to electronics and beauty.

A Meta-commissioned Kantar study found that nearly half of India’s online shoppers bought something from overseas in the past six months. And this demand is no longer confined to metros. Tier II and III cities are joining in, led by millennials and Gen Z, who see the world as their shopping mall.

But here’s the catch. Checkout hasn’t kept pace. The friction points — frequent payment failures and tentative pricing due to currency fluctuations — are slowing an otherwise booming trend. What’s missing is a hassle-free, localised way to pay and streamlined operations.

This is the gap Bangalore-based Cashfree Payments is trying to solve. In 2024, the fintech giant rolled out its Payment Gateway (PG) for International Merchants to empower global merchants to sell into India. Built under the RBI’s Payment Aggregator Cross Border (PA-CB) Imports framework, it is the first licensed solution that enables global merchants to collect INR payments through India’s most preferred local payment methods, without needing to establish an Indian presence. These payments are then settled directly into the merchant’s overseas account, in a compliant and streamlined manner. What powers this seamless experience is Cashfree’s robust stack that includes automated invoice verification, direct onboarding of foreign entities, and a checkout experience tailored for Indian consumers.

The timing is significant. India’s e-commerce market is projected to reach $400 billion by FY30, with cross-border orders accounting for a significant share. According to Payments and Commerce Market Intelligence (PCMI), cross-border ecommerce accounted for approximately 10% of India’s total ecommerce market as of 2024.

Faster shipping and stronger logistics also allow for quick delivery. Online payments, however, remain the weakest link in this chain.

Consider........

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