Xflow Partners With HSBC for Global Businesses
FinTech BizNews Service
Mumbai, 9 September, 2026: Unveiled at Global Fintech Fest in Mumbai, Xflow's new solution, built in partnership with HSBC, enables global businesses to collect payments from Indian customers via UPI, net banking, and cards, without setting up a local entity in India.
Dilip Gopinath, Head of innovation banking at HSBC India (left) with Ashwin Bhatnagar, Co-founder & CEO at Xflow (right)
Traditionally, collecting payments from India has been very difficult for international merchants. Fewer than 70% of international card transactions succeed in India, as many cards are not enabled for overseas spending, and recurring payments face additional friction due to India's data and mandate requirements. Bank wire transfers can be slow, costly, and paperwork-heavy. These hurdles cause global merchants to lose Indian customers at checkout.
Xflow resolves this by turning cross-border payments into local transactions for Indian buyers. At checkout, buyers can pay through UPI and cards. These are methods they already use and trust. UPI alone accounts for roughly 85% of India's digital payment volumes. These local methods settle quick and deliver a 95%+ success rate, driving higher conversion for global merchants.
"Collecting payments from India has always been harder than it should be, and global merchants lose customers because of it. With HSBC, we're making it possible for any international business to accept payments from Indian buyers as easily as a domestic merchant would, with local payment methods, high success rates, and compliance fully handled. Our mission is to make cross-border payments as seamless as domestic ones, and this is a major step towards that." Ashwin Bhatnagar, Co-founder & CEO, Xflow
This will help global businesses selling into India across high-demand categories, like physical-goods merchants, SaaS, AI, and consumer-tech platforms, online travel and booking platforms, and edtech providers, particularly those currently relying on international payment methods with low success rates in India. Crucially, businesses do not need to register or set up a local entity in India to use the product. Settlement is available in all major currencies to virtually any global destination at competitive rates.
Xflow holds final authorisation under the RBI's Payment Aggregator – Cross Border (PA-CB) framework for both exports (inward collections) and imports (outward payments), as well as RBI authorisation to operate as a Payment Aggregator – Online (PA-O), one of the few platforms in India to hold all three. Xflow has also received in-principle approval from the IFSCA to operate as a Payment Service Provider at GIFT City IFSC, and operates in Canada as a Money Services Business (MSB)
