Razorpay has received a final Payment Service Provider licence from the International Financial Services Centres Authority (IFSCA) to operate from GIFT City, enabling the payments company to facilitate foreign-currency transfers and offer multi-currency accounts under a single regulatory framework.
The approval follows the in-principle clearance granted to Razorpay in April 2026. The company said the licence will allow it to move money into and out of India from GIFT City and support compliant cross-border financial flows for consumers, businesses and investment platforms.
Rahul Kothari, chief operations officer at Razorpay, said the company already supports cross-border payments in both directions, including payments by Indian consumers to global businesses and collections by Indian businesses from customers overseas. The new licence, he said, would allow Razorpay to move money in foreign currency, hold funds in multi-currency accounts and support transactions that could not be served through the domestic framework.
The development adds another layer to GIFT City’s role as an infrastructure base for international financial services. Razorpay said it has built a full-stack platform in the Gujarat-based International Financial Services Centre to help Indian investment platforms offer global investing in a compliant and scalable manner.
The infrastructure currently includes banking integrations with RBL Bank and ICICI Bank. Razorpay said key investment platforms are expected to go live soon, with additional banks expected to join the network. The company did not disclose the names of the platforms or the value of transactions expected to be processed through the system.
The company said Indian residents invested $2.65 billion in overseas stocks and debt in financial year 2025-26, a 56 per cent increase from the previous year. It described the supporting infrastructure as complex and fragmented, with investment platforms often required to connect multiple banks, compliance systems and remittance partners before offering global equities to users.
According to Razorpay, that arrangement can result in longer onboarding periods, fragmented user experiences and operational uncertainty for platforms and customers. Its GIFT City infrastructure is designed to allow investment platforms to integrate once for global investing flows while remaining aligned with the Foreign Exchange Management Act and GIFT City regulations.
Razorpay said integrations that typically take months can be completed in two to three weeks through the new setup. The company also said regulators are increasingly directing cross-border investment activity through GIFT City, making compliant payment and settlement infrastructure an important requirement for platforms seeking to serve Indian residents investing overseas.
The next stage will be the rollout of the integrated service with investment platforms and the expansion of Razorpay’s banking network from its existing RBL Bank and ICICI Bank connections.
