Global Collections

Global Collections is a technology payments platform built for exporters who want to receive international payments. This solution is recommended for exporters who are dealing in goods or services having invoice value of up to USD 10,000.
Traditionally exporters in India have been receiving payments via SWIFT. With Global Collections solutions, the exporters can get 5 dedicated local accounts - in 4 currencies namely USD, GBP, EUR and CAD and a Global SWIFT Account to accept payments in 30+ currencies.
Payers/importers can make cross-border payments as easy as domestic payments by using local rails like ACH, SEPA, EFT and Faster payments and the amount is credited to the respective local collection account.
Exporters can receive these payments in the importer’s or payer’s home currency without the exporter having to open a bank account in foreign countries saving his/her time, effort and money.

Just like there is NEFT in India, there is ACH in the US, SEPA in Europe region, EFT in Canada and Faster payments in UK.
Using the Global Collections solution, exporters get a dedicated collection account each in USD, GBP, EUR and CAD and a SWIFT account to receive payments in other currencies. This way an exporter can get paid via payer’s local rails instead of SWIFT.
Example: A payer residing in the US can initiate an ACH transfer into the receiver’s (Indian exporter’s) local receiving USD account.

⚫ High-valued goods like Jewellery
⚫ Petroleum, Oils and Lubricants (POL)
⚫ Pharma products including equipment
⚫ Other line of businesses as per discretion of Cashfree Payments

Here’s the list of purpose codes to be followed for OPGSP transactions.