Industry · cross-border D2C
A customer abroad, a product from India, and rules for the money in between
Indian brands sell to the world from their own websites. Taking the payment is only the first step: the money changes currency, crosses a border and has to be matched to an export in your bank's records.
- Checkout abroadA customer in the UK pays for a handwoven throw£45.00
- Payment collectedBy a provider that handles payments from abroad£45.00
- ConvertedAt the rate applied on the day£45 × ₹110*
- Settled to the sellerRupees in the seller's account, net of charges₹4,950
- Export record closedDocuments passed to the seller's bankEDPMS
How payments from abroad reach you
For online sales of goods and services, RBI regulates the businesses that collect payments across borders for merchants as cross-border payment aggregators (PA-CB), under its Master Direction on payment aggregators issued on 15 September 2025. A PA-CB can handle inward payments (customers abroad paying Indian sellers), outward ones, or both.
Two limits from the Direction matter to sellers: the maximum value per transaction for inward or outward payments processed by a PA-CB is ₹25 lakh, and settlement in currencies other than rupees is permitted only for Indian exporters directly onboarded by the PA-CB handling the inward payment.
| Rule | What it means for you |
|---|---|
| Goods and services not prohibited under FEMA, via e-commerce | Your product and channel must qualify |
| Up to ₹25 lakh per transaction | Very large orders go through your bank instead |
| Non-INR settlement only for directly onboarded exporters | Foreign-currency settlement depends on how you're onboarded |
| PA-CB provides documents to your bank for EDPMS closure | Export records can be closed against online receipts |
From RBI's Master Direction on Regulation of Payment Aggregator (15 Sep 2025). A summary, not legal advice.
Pricing in the customer's currency
Customers buy more readily in their own currency, but you're paid in rupees (or in the settlement currency your arrangement allows). Somewhere between the two, an exchange rate is applied and charges are taken. Decide who carries the exchange risk before setting prices.
Fixed local prices
Set £45 and accept that the rupee amount varies with the rate. Simple for customers; your margin moves.
Converted from rupees
Show a local price calculated from your rupee price each day. Your margin holds; prices change for customers.
Rupees only
Charge in rupees and let the customer's card convert. Simplest for you; least familiar for customers.
Export records follow the money
Selling goods abroad is exporting, even when the buyer is one person ordering one scarf. Your bank tracks exports and the receipts against them in its Export Data Processing and Monitoring System (EDPMS), and entries have to be closed as payments arrive.
The Master Direction requires a PA-CB to give the exporter's bank the documents or information it needs to close those entries. Your part is to keep shipping records, invoices and order references consistent, so each payment can be tied to its shipment.
Invoice per order. In the currency charged, with the order reference.
Shipping record per order. Carrier, tracking and destination.
Receipts matched. Each settlement line to its order.
Ask your bank. What it needs for your volume and product type.
Refunds, returns and chargebacks abroad
International orders cost more to get wrong. Returns may cost more to ship than the product is worth, refunds cross currencies, and cardholders abroad dispute payments under their own card rules. Plan each before your first international order.
Returns
Decide when a refund is cheaper than a return shipment, and say so in your policy.
Refund currency
State whether refunds are calculated in the customer's currency or in rupees.
Chargebacks
Keep proof of delivery and customer communication for every international order.
Fraud on international orders
Card authentication rules differ from country to country, and stolen cards are often tested on small international merchants. Watch for orders that don't add up: billing and shipping countries that differ, several cards tried in a row, rush shipping on expensive items, or new customers ordering unusually large quantities.
For orders that look unusual, confirm with the customer before dispatch. A delayed parcel is cheaper than a chargeback on goods already abroad.
Where Peneu fits
This page doesn't say Peneu is authorised as a cross-border payment aggregator, and names no corridor, currency or partner. Whether Peneu can help you accept payments from abroad, and through whom, is confirmed during onboarding. The international payments handbook covers the mechanics in more depth.
Cross-border selling questions
What is a cross-border payment aggregator?
Under RBI's Master Direction on payment aggregators (15 Sep 2025), a PA-CB facilitates cross-border payments for the purchase or sale of goods and services not prohibited under FEMA, for merchants it has onboarded, through e-commerce. It can facilitate inward transactions (customers abroad paying Indian sellers), outward ones, or both.
Is there a limit on how much a customer abroad can pay per order?
For inward or outward transactions processed by a PA-CB, the Master Direction sets a maximum of ₹25 lakh per transaction. Larger export receipts usually go through the exporter's bank directly.
Can I be settled in dollars or pounds instead of rupees?
The Master Direction permits settlement in non-INR currencies only for Indian exporters directly onboarded by the PA-CB facilitating the inward transactions. Whether your provider offers it is a question for the provider.
What paperwork follows an export sale paid online?
Export receipts have to be matched to the export in your bank's records (EDPMS). The Master Direction requires the PA-CB to provide the documents or information the exporter's bank needs to close those entries. Keep your shipping and invoice records ready too.
How do refunds to customers abroad work?
Through the provider, back to the customer's original method. The amount the customer sees can differ from what they paid if exchange rates have moved; state in your policy which currency refunds are calculated in.
Does Peneu support cross-border payments?
This page doesn't say Peneu is authorised as a cross-border payment aggregator or name any corridor or currency. Whether Peneu can help you accept payments from abroad, and through which partners, is confirmed during onboarding.
Official sources
- RBI — Master Direction on Regulation of Payment Aggregator (PA) (15 Sep 2025)PA-CB definition, ₹25 lakh per-transaction maximum, non-INR settlement condition, EDPMS/IDPMS documentation, InCA/OCA accounts.
Last reviewed . Examples, amounts and screens marked illustrative are not Peneu figures.