The new BRISKPE platform integrates account-to-account (A2A) transfers, as well as card and wallet-based collections powered by PayU and PayPal.
BRISKPE, a cross-border payment platform backed by Indian payment aggregator PayU, has launched a unified solution tailored for about 50 million Indian micro, small, and medium enterprises (MSMEs).
The platform aims to streamline international transactions for exporters, service providers, marketplace sellers, and freelancers with a combination of A2A transfers, as well as card and wallet-based collections powered by PayU and PayPal. The platform supports local collections in six major currencies—USD, GBP, EUR, CAD, AUD, and SGD—and facilitates SWIFT transfers in over 30 currencies.
BRISKPE solution charges a flat 1% fee on transactions (inclusive of GST) for A2A payments, with funds credited within one day, enabling businesses to maintain healthy cash flow and seize opportunities without delay, which is crucial in today’s dynamic business environment.
By offering diverse payment options, the BRISKPE platform aims to reduce costs, enhance cash flow with rapid fund transfers, and expand market reach for MSMEs, thereby supporting their growth and innovation in global trade. Additionally, instant KYC approvals and an all-in-one dashboard streamline payment management, allowing businesses to focus on growth and innovation rather than paperwork.
MSMEs are the backbone of the Indian economy, contributing approximately 30% of India’s Gross Domestic Product (GDP), accounting for more than 45% of India’s total exports, providing job opportunities in rural and semi-urban areas, and fostering innovation and growth in local economies. MSMEs in India employ over 200 million people, making it one of the largest job creators in the country.
Despite their potential, MSMEs face challenges like restricted access to credit, infrastructure deficiencies, and regulatory obstacles. However, enhancing this sector is crucial for achieving India’s goal of becoming a $5 trillion economy. Although the government of India is implementing certain initiatives to facilitate MSME credit access and development, empowerment of their day-to-day operations relies on private sector initiatives, including fintech solutions like the one offered by BRISKPE.
