Razorpay gets its final IFSCA payment licence in GIFT City to handle cross-border money movement

Razorpay has received a final payment service provider (PSP) licence from the International Financial Services Centres Authority (IFSCA), the regulator for GIFT City in Gujarat, Entrackr and ETtech reported on November 2, 2026. The approval follows an in-principle clearance granted in April 2026, and lets the Bengaluru-based fintech process foreign-currency payments from GIFT City for overseas investments, international collections and other cross-border transactions.

GIFT City is India's international financial services centre, a zone where firms can deal in foreign currency under one regulator instead of stitching together several approvals. Razorpay says this lets it bring banking, compliance and remittance services into a single setup. It has already integrated with RBL Bank and ICICI Bank, and says key investment platforms are expected to go live soon. The idea is that a platform integrates once and can then offer global investing to Indian residents within FEMA (the Foreign Exchange Management Act) and GIFT City rules.

The company's pitch is speed. Razorpay says it wants to cut integration timelines for such services from several months to two or three weeks. It points to demand: according to the company, Indian residents invested $2.65 Bn in overseas stocks and debt in FY26, up 56% from the year before. The licence also covers foreign currency transfers and multi-currency accounts, and Razorpay plans to extend the setup to other flows, including services for non-resident Indians (NRIs).

Razorpay was founded in 2014 by Harshil Mathur and Shashank Kumar and provides payments and business banking products to Indian businesses. ETtech noted that the company is preparing for an initial public offering, which makes a fresh regulated revenue line in cross-border payments a timely addition.