EbixCash World Money Becomes the First AD-II Licensed Entity to Receive In-Principle PSP Approval at GIFT IFSC
FinTech BizNews Service
Mumbai, 22 January 2026: EbixCash World Money, a flagship subsidiary of Eraaya Lifespaces limited and a leading player in international payments, foreign exchange, and remittance solutions, today announced that Buyforex, its wholly owned subsidiary, has received in-principle approval for Payment Service Provider (PSP) authorization at GIFT IFSC, making it the first Authorised Dealer Category-II (AD-II) group entity to achieve this milestone.
The approval has been granted by the International Financial Services Centres Authority (IFSCA) and enables Buyforex to operate as a regulated PSP from GIFT IFSC, subject to fulfillment of final conditions.
Under this in-principle approval, Buyforex is authorized to undertake the following four key payment services:
This milestone significantly strengthens the EbixCash Group’s regulated payments footprint and supports India’s ambition to position GIFT IFSC as a global hub for cross-border payments and financial services.
The authorization enables the group to deliver secure, compliant, and globally scalable payment solutions to international merchants, financial institutions, and enterprises, while leveraging GIFT IFSC’s globally aligned regulatory framework.
Commenting on the development, Mr. T C Guruprasad, CEO & Managing Director - Payments Business, EbixCash, said:
“The in-principle PSP approval granted to Buyforex at GIFT IFSC is a landmark achievement for the EbixCash Group. Being the first AD-II group entity to receive this authorization underscores our strong regulatory credentials and long-standing focus on compliance-led growth. This approval enables us to expand our cross-border payments capabilities while contributing meaningfully to GIFT IFSC’s evolution as a world-class financial ecosystem.”
With this approval, EbixCash World Money, through Buyforex, is well positioned to support global commerce, international remittances, and merchant payment flows through a robust, future-ready payments infrastructure anchored in India.
The development further reinforces EbixCash’s commitment to building regulated, technology-driven financial platforms that meet international standards while serving global markets from India.
