Tackling Cost, Speed, Complexity Key To Cross-Border Payment Success, Says Xflow Co-Founder Anand Balaji

Anand Balaji is the CEO and co-founder of Xflow. Prior to founding Xflow in 2021, Anand led Stripe's India business from 2016 to 2021, where he successfully launched and managed the company’s operations, financial partnerships, and growth in the region. He also spent four years at Amazon, playing a pivotal role in launching the platform in India and establishing key customer acquisition channels through partnerships with OEMs, telecom service providers, and retailers. Before Amazon, Anand led the long-term strategy and execution for Microsoft’s Windows India business.

He told Bizz Buzz that the Bengaluru-based Xflow was founded to revolutionize the outdated, 20th-century systems that have long dominated international B2B payments. The company offers a next-generation financial services infrastructure that simplifies and modernizes cross-border payments for businesses of all sizes. Whether you're a SaaS company, mid-market business, or large platform, Xflow ensures seamless, transparent payments across borders.

He said with strong backing from investors like Lightspeed, General Catalyst, Square Peg, and Stripe, they are financially solid and poised for rapid growth. Its scalable infrastructure is set to become the go-to solution for optimizing international payments in an increasingly globalized commerce world

Cross-border payments remain a challenge for many businesses. What are the biggest pain points they face today?

Cross-border payments can be a tricky experience for businesses, especially SMBs. The key challenges revolve around three areas: cost, speed, and complexity. To start, the fees for receiving international payments are often unclear. All these add to the overall costs of receiving international payments. These hidden costs can be around 5 to 8 per cent of their invoice costs. Many businesses are unaware that they’re losing a portion of their earnings due to hidden FX markups and bank charges. This lack of transparency leads to unnecessarily high costs for businesses, as they unknowingly pay more than they should Then, there’s the issue of delays in settlement. International payments can take days, sometimes even weeks, to clear. That’s a long time for a business that relies on cash flow to operate efficiently.

And finally, compliance and documentation add another layer of complexity. Businesses have to navigate regulatory requirements, deal with unfamiliar paperwork, and often chase banks for key documentation for tax and other requirements. It’s a cumbersome process that takes focus away from their core business.

At Xflow, we’ve streamlined this entire experience—ensuring transparent pricing, fast payouts, and simplified compliance so businesses can receive their payments without the usual friction. We are currently working with over 3,000 businesses to ensure they receive payments without a hurdle.

How do regulatory compliance and currency exchange complexities impact international transactions?

Different countries have their own financial regulations, and navigating them without the right support can lead to delays or even penalties. Currency exchange is another pain point. Banks and financial institutions often bundle hidden fees into FX rates, making it difficult to predict the actual amount businesses will receive. By the time they realize the impact, it’s already too late.

Xflow simplifies all of this. We provide eFIRA within 24 hours of withdrawal and offer completely transparent FX rates, allowing businesses to secure better control over their transactions.

What makes Xflow’s approach to cross-border payments different from traditional banking solutions?

Traditional banking wasn’t built for the digital-first economy—it’s slow, expensive, and often frustrating, especially for SMBs and growing businesses. A major pain point is hidden fees. Many businesses don’t realize they’re losing earnings to opaque FX markups and unexpected bank charges. Xflow solves this with transparent mid-market exchange rates and zero FX markup, so businesses know exactly how much they’ll receive.

Speed is another issue—traditional banks can take days, sometimes weeks, to process international transactions. At Xflow, we settle payments in just one business day, helping businesses get their money faster and keep operations running smoothly.

Compliance and documentation, like FIRA paperwork, also cause headaches. We’ve automated this, offering a free eFIRA with every withdrawal within 24 hours, saving businesses time and effort.

What sets us apart is our business-first approach. We understand that growing businesses need services that are fast, cost-effective, and simple. Our seamless, intuitive platform integrates easily with existing workflows, so businesses can focus on growth, not paperwork.

How does Xflow leverage technology to streamline global transactions?

Technology is our backbone. We’re solving an old problem with a fresh, customer-first approach.We’ve recently introduced an FIRC calculator—a free tool that helps businesses analyze hidden. FX charges in their international transactions. It’s a simple yet powerful step towards greater transparency in cross-border payments.

We’ve also built seamless API integrations, allowing fintechs and other businesses to plug into Xflow without disrupting their existing financial workflows. Whether they’re using an invoicing platform or an ERP system, payments can be managed with minimal effort.

What industries or types of businesses benefit the most from your solution?

At Xflow, we work with a broad range of businesses, but we’ve seen strong demand from ITES companies, SaaS startups, digital agencies, and exporters. Our platform is built to make things easier for businesses by offering transparent pricing and faster payouts, so they can keep more of what they earn. In today’s world, where cash flow is everything, this can make a big difference.

For globally funded startups, especially those that deal with intercompany transfers, Xflow really helps simplify things. We make cross-border payments quicker and more predictable with clear pricing and a commitment to settle payments in just one business day. This means startups don’t have to worry about payment delays or fluctuating fees that can add up, helping them focus on growth instead of financial roadblocks.

One of the things we specialize in is transfer pricing, which is really important for businesses operating in multiple countries. In simple terms, it’s about figuring out how much one part of the business should pay another for goods, services, or even intellectual property. For example, if a US--based company sends money to its Indian branch, transfer pricing helps determine the right amount and ensures it’s done in a tax-compliant way. It also helps reduce risks, like currency fluctuations or high bank fees, that can complicate international transactions.

On top of that, we make it easy for businesses to collect payments from over 140 countries. Whether, it’s receiving payments from customers abroad or paying international suppliers, we streamline the whole process so businesses can manage global transactions smoothly.

At the end of the day, our goal is to take the complexity out of international payments and transfer pricing, allowing businesses to focus on what they do best—growing and scaling their operations

With increasing scrutiny on financial regulations, how does Xflow ensure compliance across different markets?

Compliance isn’t just a feature—it’s foundational to our platform. We work exclusively with AD-1 banks to ensure every transaction meets global standards. Our system is continuously updated to reflect the latest regulatory changes, ensuring businesses remain compliant without extra effort. For example, in India, FEMA regulations require businesses to maintain accurate remittance records, and our platform automates the process, removing the need for manual intervention. By combining automation with deep regulatory expertise, we ensure businesses can scale globally with peace of mind.

What’s next for Xflow? Are there any upcoming innovations or expansions in the pipeline?

We’re just getting started. Our roadmap is packed with exciting developments aimed at making international payments even more seamless. One of our key focus areas is multi-currency support. Right now, we primarily facilitate USD transactions, but in the first half of 2025, we’ll be expanding to include GBP, EUR, and other major currencies. Additionally, we are planning to introduce Imports as part of our product expansion, also targeting the first half of 2025. This will allow payment aggregators sitting out of

India to manage payments and collections from Indian businesses and consumers through multiple methods such as bank transfers as well as UPI. This feature will be integrated directly without our domestic methods such as NEFT, RTGS or even IMPS along with UPI to ensure cost-effective collection.

At the end of the day, our goal remains the same—to break down barriers in cross-border transactions and empower businesses to operate without friction. Xflow has already processed hundreds of millions worth of cross-border transactions and plans to grow this upto 7-8x in the coming year. We’re excited for what’s ahead!