Razorpay Receives PSP Licence for GIFT City Operations

Razorpay has secured its Payment Service Provider (PSP) licence from the International Financial Services Centres Authority (IFSCA) to operate within GIFT City, Gujarat. This licence enables the fintech company to manage cross-border money transfers to and from India under a comprehensive regulatory framework. The approval follows an initial clearance granted in April 2026.

Enhanced Global Investing and Multi-Currency Transactions

With the newly acquired licence, Razorpay is set to promote global investing, international collections, settlements, and multi-currency transactions using its GIFT City-based infrastructure. The company has already established partnerships with RBL Bank and ICICI Bank, and major investment platforms are anticipated to launch shortly.

Streamlining Investment Platform Integrations

Razorpay expressed that this infrastructure will facilitate investment platforms to integrate seamlessly and offer worldwide investing options to Indian residents in adherence to FEMA regulations and GIFT City guidelines.

Reducing Integration Timelines

The company intends to accelerate integration timelines from several months down to two to three weeks by unifying banking, compliance, and remittance services within a singular infrastructure. According to Razorpay, Indian residents invested $2.65 billion in foreign stocks and debts during FY26, witnessing a substantial 56% year-on-year growth.

Expanding Cross-Border Capabilities

This licence also broadens Razorpay’s cross-border capabilities, allowing for foreign currency transfers and multi-currency accounts. Furthermore, the company plans to extend the infrastructure to accommodate various financial flows, including services for non-resident Indians (NRIs).

Founded in 2014 by Shashank Kumar and Harshil Mathur, Razorpay delivers payment and business banking solutions to enterprises across India.