Razorpay received the final Payment Service Provider license from the International Financial Services Centres Authority to operate in GIFT City, Gujarat. The license lets the fintech company facilitate cross-border money movement to and from India under a single regulatory framework. The approval follows an in-principle clearance granted in April 2026.
License scope
With the approval, Razorpay can process foreign-currency payments and offer multi-currency accounts. The company can also support international transactions, overseas investments, and collections. These services will run through its GIFT City-based infrastructure.
Company context
Razorpay was founded in 2014 by Shashank Kumar and Harshil Mathur. It provides payment and business banking solutions to businesses across India. The company is also preparing for a future IPO.
Faster integrations
Razorpay has integrated with RBL Bank and ICICI Bank. The setup is designed to let investment platforms integrate once and offer global investing to Indian residents. Razorpay aims to reduce integration timelines from several months to two to three weeks.
Razorpay plans to extend the infrastructure to other financial flows, including services for non-resident Indians. Key investment platforms are expected to go live soon. The company said Indian residents invested $2.65 billion in overseas stocks and debt in FY26, a 56% year-on-year increase.