Cross-Border Payments for Emerging Indian Sectors: From Handicrafts to SaaS Exports
TL;DR:
From a weaver in Varanasi selling silk sarees to global customers to a tech startup in Bengaluru powering businesses across continents with innovative software, Indian businesses increasingly rely on smooth cross-border payments to reach global markets. While handicraft exporters need simple, affordable, and fast payment processing across multiple currencies, SaaS companies require recurring payments, multiple payment methods, real-time sales analytics, fraud protection, and API integrations. With payment infrastructure evolving rapidly and RBI regulations requiring cross-border payments to be processed through licensed Payment Aggregators, businesses need a compliant and reliable payment partner. Pay10 simplifies international transactions with support for multiple currencies, 100+ payment methods, recurring billing, real-time reporting, competitive forex rates, strong security standards, and full regulatory compliance, helping Indian exporters stay competitive and focus on growing their business globally.
The exports of India are diverse and inspiring, ranging from a weaver in Varanasi selling silk sarees to global customers of a tech startup in Bengaluru and reaching to customers anywhere. This has been powering businesses across continents with innovative software, yet they both face the same hurdle, which is getting the payment done smoothly across borders. Pay10 is an RBI-authorised payment gateway that bridges the gap between your business and the global markets.
Why Cross-Border Payments Matter Now
- India receives the largest amount of international remittances in the world, with more than 135 billion remitted to the country last year.
- The payment infrastructure is changing quickly- UPI is currently functional in several countries, and new technologies are allowing international transactions to be made faster and cheaper than they used to be.
- This is an unprecedented opportunity for Indian businesses. However, it also involves dealing with complicated laws, working with different currencies, and making transactions safe, not to mention that they have to remain affordable.
The Handicrafts Journey: Going Global
- The handicrafts industry in India is a goldmine of heritage and talent.
- The industry exports nearly $4 billion worth of products annually, with over 7 million artisans making all the products, including handwoven fabrics, metal work, etc. The US alone exports close to 40 per cent of these.
- The issue, however, is that most artisans lack access to worldwide payment solutions. Traditional banking may be time-consuming, expensive, and complicated. Even a small foreign order might take a week to fulfil, and the charges may absorb the already meagre margins of the artisans.
Pay10 simplifies this process, supports several currencies, is clearly priced, and processes quickly. Whether it is a Parisian boutique ordering embroidered cushion covers or a New York gallery purchasing brass sculptures, artisans can now receive payments easily and concentrate on their craft.
Grow beyond borders. Pay10 provides RBI-authorised cross-border payment solutions designed for modern global businesses.
The SaaS Revolution: India's Tech Exports
- The software industry in India is thriving and exports over $200 billion worth of services every year. Indian SaaS startups are competing with the world leaders in terms of customer relationship management software or AI-based analytics solutions.
- The payment requirements of such businesses are different. They require recurring payments, various payment methods (credit cards, wire transfers, and digital payment systems) and real-time sales analytics. They should also address international taxation needs and the processing of chargebacks.
- Pay10 is capable of managing these complexities, including API integrations, recurring billing cycles, fraud protection, and full analytics together. It also maintains the highest standards of security by meeting the PCI-DSS Level 1 standard.
One Platform, Multiple Solutions
Pay10 is a flexible and a distinctive payment partner in the industry. An exporter of handicrafts needs simplicity and minimal cost, whereas a SaaS business needs proper automation and analysis. Pay10 offers both:
- Simple payment options, mobile payment, good forex rates and 24/7 support in local languages.
- 100+ payments, subscriptions, real-time reporting, and integration with APIs.
Global collections made simpler. Pay10 supports businesses with secure cross-border payment solutions backed by enterprise-grade infrastructure.
Staying Compliant, Staying Competitive
Since October 2023, the RBI has been imposing stricter rules on the cross-border payment service providers. Cross-border payments can only be made using a licensed Payment Aggregator. Pay10 complies with all these needs, and you can be assured that all transactions remain in line with Indian regulations.
This matters because a failure to comply with payment processing can result in frozen funds, legal complications, and interrupted business activity.
Conclusion
Cross-border payments are becoming faster, cheaper, and more accessible. The globalisation of UPI, the development of blockchain technology, and the use of AI to fight fraud are all revolutionizing cross-border payments. Pay10 stays ahead with these developments, updating its platform to better serve Indian exporters.
No matter if you are exporting handmade ceramics or cloud-based software, your payment gateway should be the last thing on your mind. It should simply work.
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