Banking Circle has joined forces with PayGlocal to streamline international payment collections for Indian exporters and marketplace sellers. 

By leveraging Banking Circle’s direct clearing access and its virtual account solutions, PayGlocal aims to strengthen its cross-border payment services, enabling Indian businesses to collect funds from international markets, including Europe, the UK, and Australia. 

PayGlocal is a cross-border payment aggregator, licenced by Reserve Bank of India (RBI).  

Banking Circle chief commercial officer Mishal Ruparel said: “Our collaboration with PayGlocal is a significant step in reducing friction for Indian exporters and enhances our presence in India.  

“By combining our local clearing network with PayGlocal’s merchant-focused platform, we’re enabling faster, cost-effective cross-border payments that support India’s growing role in global trade.” 

As part of the partnership, PayGlocal plans to expand its multi-currency account offering to include Australian Dollars (AUD), in addition to its current capabilities in US Dollars (USD), Euros (EUR), and British Pounds (GBP).  

The use of local clearing rails is anticipated to provide merchants with faster settlements, all accessible through a single API. 

PayGlocal co-founder and chief product officer Rohit Sukhija said: “PayGlocal helps Indian businesses expand globally by enabling them the ability to move money quickly, compliantly, and without friction — which is critical.  

“This tie-up with Banking Circle strengthens that foundation by combining trusted infrastructure, regulatory alignment, and a shared commitment to solving real merchant challenges at scale — without making them handle the complexities themselves.”  

Earlier in the year, Banking Circle announced the acquisition of Australian Settlements Limited (ASL), a decision aligned with its vision to establish a global hub for real-time clearing and settlement.