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Razorpay has secured a final Payment Service Provider licence from IFSCA to expand cross-border payments. The approval allows operations from GIFT City, Gujarat, under one regulatory framework for international money movement.
The licence was announced on November 2, 2026, to enable foreign currency transfers, multi-currency accounts, and international settlements. It also creates new opportunities for Indian residents investing overseas and NRIs supporting families back home.
The approval follows IFSCA's in-principle clearance in April 2026 and expands Razorpay's international financial services. The fintech company aims to simplify global transactions by connecting payments, banking, and compliance infrastructure through GIFT City. This development also strengthens its position in India's expanding cross-border payments market.
Rahul Kothari, chief operations officer at Razorpay, highlighted the importance of expanding the company's international payment capabilities. Razorpay already enables Indian consumers to pay global businesses and helps domestic merchants collect overseas payments.
“This licence adds a new dimension to that portfolio,” Kothari said. He explained that the approval supports foreign currency transfers and multi-currency accounts. It also enables financial activities that the domestic framework could not accommodate. These include overseas investments by Indian residents and money transfers supporting families in India.
Razorpay has developed a GIFT City infrastructure that helps Indian investment platforms provide access to global markets. Its banking integrations with RBL Bank and ICICI Bank already support the new network. The company expects major investment platforms to launch their services through this infrastructure soon.
The expansion comes amid rising interest in overseas investments among Indian residents. Investors directed USD 2.65 billion into overseas stocks and debt during FY26, marking 56% year-on-year growth. However, investment platforms still face complicated banking connections, compliance requirements, and remittance arrangements.
These fragmented systems often increase onboarding timelines and create operational difficulties for financial platforms. Razorpay aims to address these challenges through a single integration covering essential cross-border financial services.
The infrastructure supports global investing under the Foreign Exchange Management Act and applicable GIFT City regulations. Razorpay says platforms can complete integrations within two to three weeks instead of waiting months. This streamlined approach could help investment platforms introduce international financial products faster.
The final IFSCA licence also expands Razorpay's capabilities across international collections and cross-border settlements. With global investing demand increasing, GIFT City could become an important gateway for compliant financial transactions.
Razorpay's latest regulatory approval positions the company to capture opportunities across India's growing international payments ecosystem.
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