Razorpay gets final IFSCA PSP licence for GIFT City

Razorpay has received the final Payment Service Provider (PSP) licence from the International Financial Services Centres Authority (IFSCA) to operate in GIFT City, Gujarat. The licence lets the fintech company facilitate cross-border money movement to and from India under a single regulatory framework.

The approval follows an in-principle clearance granted in April 2026. Razorpay plans to use its GIFT City-based infrastructure for global investing, international collections, settlements and multi-currency transactions.

Investment platforms are the main audience. Razorpay says the infrastructure will let them integrate once and offer global investing services to Indian residents, in line with FEMA and GIFT City regulations.

The company aims to cut integration timelines from several months to two to three weeks by bringing banking, compliance and remittance services under one infrastructure.

Razorpay has already integrated with RBL Bank and ICICI Bank, and key investment platforms are expected to go live soon.

According to the company, Indian residents invested $2.65 billion in overseas stocks and debt in FY26, a 56% year-on-year increase.

The licence also extends Razorpay’s cross-border capabilities to foreign currency transfers and multi-currency accounts. The company plans to extend the infrastructure to other financial flows, including services for non-resident Indians (NRIs). It has not given dates for that.