PayGlocal gets IFSCA nod to launch cross-border payments unit in GIFT City
The payments company has received in-principle approval to set up a payment service provider subsidiary in GIFT City, supporting e-money accounts, cross-border transfers and merchant acquisition for Indian businesses selling overseas.
What happened
PayGlocal received in-principle IFSCA approval to establish a payment service provider subsidiary in GIFT City, enabling e-money accounts, cross-border
Key facts
- Founded in 2021
- Supports more than 130 currencies
- Supports over 40 global and local payment methods
What changed
PayGlocal received in-principle IFSCA approval to establish a payment service provider subsidiary in GIFT City, enabling e-money accounts, cross-border transfers and merchant acquisition to support Indian merchants selling internationally.
Why this matters
PayGlocal’s IFSCA approval positions it to offer Indian merchants a more integrated route to e-money accounts, cross-border transfers and overseas payment acceptance through GIFT City.
What to watch
- Receipt of final IFSCA authorization and stated launch timeline.
- Announcements of partner banks, card-network integrations and supported payment corridors.
- Merchant wins among Indian brands selling internationally.
- Changes in cross-border transaction volume, settlement times and FX pricing.
- IFSCA or RBI guidance on e-money, KYC, data handling and outward-remittance compliance.