Skip to main content

Skydo receives Amazon Payment Service Provider (PSP) approval to Simplify Cross-Border Payments for Indian Exporters

Skydo, a leading cross border payments platform has received Payment Service Provider (PSP) approval from Amazon. This makes Skydo one of the first homegrown platforms to offer seamless international payments for lakhs of Indian exporters selling on Amazon global marketplaces.

With this, exporters on Amazon can receive their international payouts through Skydo in a secure and cost-effective manner. Skydo is partnered with HDFC Bank and compliant with RBI regulations. Through their payment solutions, Skydo has already empowered over 10,000 Indian exporters to receive their international payments seamlessly.

Amazon has recently announced plans to enable over USD 80 billion in cumulative e-commerce exports from India by 2030, quadrupling its earlier pledge of USD 20 billion by 2025. This highlights the robust demand for ‘Made in India’ products and the crucial role of payment service providers like Skydo in processing international payments for India’s rapidly growing exports.

As part of their launch offer, Skydo is offering zero forex markup and a USD 1 flat transaction fee to Amazon Global sellers in their first three months of using the platform. Some key features of Skydo include transparent pricing with zero markup over live mid-market forex rates, instant digital onboarding and KYC, dedicated customer support, fast settlements, and simplified regulatory compliance with instant FIRA (Foreign Inward Remittance Advice). 


“We believe international payments on global marketplaces such as Amazon should be as transparent and easy as local payments. Our mission is to empower Indian exporters by eliminating inefficiencies and ensuring convenient and cost-effective cross-border transactions. Skydo’s advanced risk, compliance, and fraud prevention infrastructure ensures that sellers can operate with confidence in the global marketplace," said Srivatsan Sridhar, CEO of Skydo.

Managing cross-border payments and navigating export compliance are major challenges for businesses expanding globally. Skydo is addressing these challenges by building a comprehensive ecosystem of services around payments tailored to Amazon sellers. This will help Indian MSMEs and D2C startups focus on growth and extend their reach to global markets. 

As India targets USD 1 trillion in merchandise exports by 2030, initiatives like Amazon's Global Selling program have expanded global market access for Indian businesses, particularly MSMEs and entrepreneurs from key export hubs across states such as Delhi NCR, Maharashtra, Gujarat, Rajasthan, Karnataka, Uttar Pradesh, and Tamil Nadu. Since its launch in 2015, the program has empowered 1.5 lac Indian exporters to sell over 400 million ‘Made in India’ products worldwide, reaching major markets like the US, UK, UAE, Canada, Germany, and Australia.These sellers hail from 200+ cities across 28 states and 7 union territories, reflecting the increasing adoption of e-commerce exports across the country.

About Skydo

Skydo is a fintech startup based out of Bangalore on a mission to make cross-border B2B payments hassle-free & reduce forex charges for businesses by more than 50%.

By partnering with leading banks across the globe, Skydo provides businesses and freelancers with their own foreign virtual accounts for receiving payments - without any taxation or compliance burdens. Businesses can sign up in just a few minutes through Skydo’s online dashboard, allowing them to grow their export business without the hassles typically associated with receiving payments. 

For more information on Skydo, please visit:

https://www.skydo.com/amazon-global-sellers


Comments

Post a Comment

Popular posts from this blog

CARE Ratings shares list at 25% premium on NSE

Credit Analysis and Research Limited (  CARE ) has listed at Rs 940, a 25% premium against its issue price of Rs 750 per share on the National Stock Exchange (NSE). The stock hit a high of Rs 955 and low of Rs 930 so far. A combined 1.41 million shares have changed hands on the counter in opening deals on the NSE and BSE. CARE, the second-largest credit rating agency in India, has raised Rs 540 crore by issuing 7.2 million shares through initial public offer (IPO). The company has fixed the issue price at higher price band at Rs 700-750 per share. The IPO attracted bids for 245.56 million shares against 7.2 million shares on offer, translating to 34.11 times subscription, according to information available in basis of allotment.   The category reserved for qualified institutional buyers (QIBs) was subscribed 43 times, while non-institutional investor’s portion received 110 times subscription. Shares reserved for retail investors got subscribed 6.11 tim...
Post a Comment
Read more

Grab latest cool collectibles in eye wear @ Lawrence & Mayo

Retro-classic look returns to eyewear category with a feast of colours ‘ifest’ offer valid till December 31, 2012 L&M to unveil watches & pens this festive season First-of-its-kind exclusive women’s corporate range of pens November 1, 2012: Welcome this season with a new look that will set trends! Lawrence & Mayo (L&M), India’s most trusted opticians for 135 years, and pioneers in ophthalmic optics & instrumentation, unveils the new look for Festive season 2012. Get the latest cool collectibles from Ray Ban, Oakley and Maui Jim from any of the 89 L&M outlets across India to add a zing to your look this festive season. It’s time to go hep and retro as the old adorable classic styles are back again with the most eclectic and exhaustive range of glasses, glares and contact lenses available at L&M stores. Special kids wear collections and sports wear collections are also available for enthusiasts.  Mr. Vivek Mendonsa, Marketing Director, Law...
Post a Comment
Read more

Country Delight Launches NMR-Tested Honey: The Gold Standard of Purity

  Country Delight continues strengthening its promise of delivering the best purity and quality by launching 100% Pure Farm Honey (NMR Tested) Country Delight, a trusted name in premium and natural essentials, has announced the launch of 100% Pure Farm Honey (NMR Tested). Country Delight’s Farm Honey is Nuclear Magnetic Resonance (NMR) tested by a certified lab in Germany, making it one of the most authentic and reliable kitchen ingredients available to Indian homes. It also undergoes rigorous testing on 36 quality parameters as per FSSAI standards, including physicochemical, antibiotic and microbial, to rule out the presence of added sugars. Honey is not just a natural sweetener; it is increasingly valued for its functional benefits. With Country Delight's NMR-tested honey, consumers can enjoy a product that supports wellness through its natural composition, which is rich in antioxidants and phytonutrients and offers advantages over refined sugars.  Adulteration with cheaper ...
Post a Comment
Read more