PayGlocal gets in-principle IFSCA approval for GIFT City payments unit

The cross-border payments firm plans to establish a payment service provider subsidiary in GIFT City, adding regulated infrastructure for Indian merchants and international businesses.

— Source publishedWed, 23 Sept, 2026, 17:53 IST·First seen Wed, 23 Sept, 2026, 17:55 IST·Source Entrackr · Newsletter

What happened

PayGlocal received IFSCA in-principle approval to set up a GIFT-IFSC payment service provider subsidiary, expanding its regulated cross-border payments

Key facts

  • Founded in 2021
  • supports payments in over 130 currencies
  • supports more than 40 payment methods
  • 2024

What changed

PayGlocal received IFSCA in-principle approval to set up a GIFT-IFSC payment service provider subsidiary, expanding its regulated cross-border payments infrastructure for Indian merchants and international businesses.

Why this matters

PayGlocal’s planned GIFT City unit could broaden regulated cross-border payment options for Indian merchants serving international customers.

What to watch

  • Final IFSCA license issuance and the specific payment services permitted.
  • Announcement of launch timelines, initial transaction corridors or named banking partners.
  • Merchant wins among exporters, SaaS companies, travel, marketplaces or global digital businesses.
  • Evidence of new FX, multi-currency settlement, card acquiring or payout capabilities.
  • Competing IFSC payment-license approvals that increase pricing and partnership competition.

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