India's fintech sector is taking another step towards strengthening its international financial infrastructure. Razorpay has received its final Payment Service Provider (PSP) licence from the International Financial Services Centres Authority (IFSCA), allowing the company to facilitate cross-border money movement through GIFT City, Gujarat.
The approval enables Razorpay to move money into and out of India under a single regulatory framework. It follows the in-principle approval granted in April 2026 and expands the company's capabilities beyond its existing domestic and international payment services.
The development comes as demand for overseas investments and international financial services continues to grow among Indian consumers and businesses.
Expanding Cross-Border Payment Capabilities
The final licence allows Razorpay to facilitate foreign currency transfers and hold funds in multi-currency accounts. It also supports international collections, settlements and financial flows connected to global investing.
According to Rahul Kothari, Chief Operating Officer at Razorpay, the approval adds a new dimension to the company's existing cross-border payment portfolio.
Razorpay already enables Indian consumers to pay global businesses and Indian businesses to collect payments from customers worldwide. The GIFT City licence expands these capabilities to include transactions that could not be handled through the domestic framework alone.
Potential use cases include Indians investing in overseas markets and non-resident Indians transferring money to support their families in India.
Simplifying Global Investing for Indian Platforms
One of the key opportunities is helping Indian investment platforms offer access to international equities.
Currently, platforms seeking to provide global investing services often need to coordinate with multiple banks, remittance partners and compliance systems. Managing these separate relationships can increase onboarding time, operational complexity and costs.
Razorpay's GIFT City infrastructure aims to simplify this process through a single integration.
The company says platforms can connect once to access the banking, payment and compliance infrastructure required to support global investing in line with the Foreign Exchange Management Act (FEMA) and GIFT City regulations.
According to Razorpay, integration timelines that typically take several months could be reduced to approximately two to three weeks.
Banking Partnerships Already in Place
Razorpay has established banking integrations with RBL Bank and ICICI Bank for its GIFT City infrastructure.
The company says the infrastructure is ready, while key investment platforms are expected to go live soon. Additional banking partners are also expected to join over time.
This development could make it easier for brokers and wealth management platforms to introduce international investment services without independently building multiple payment and banking connections.
Rising Demand for Overseas Investments
The expansion comes amid growing interest among Indian residents in international financial markets.
According to figures cited by Razorpay, Indian residents invested $2.65 billion in overseas stocks and debt during FY2025–26, representing a 56% year-on-year increase.
As interest in global equities grows, financial platforms need reliable infrastructure to manage international collections, settlements and regulatory requirements.
GIFT City is emerging as an important part of this ecosystem by providing a regulated environment for international financial services.
What This Means for India's Fintech Ecosystem
Razorpay's final IFSCA licence highlights how India's fintech infrastructure is evolving beyond domestic digital payments.
The focus is increasingly expanding towards international money movement, global investing and multi-currency financial services. For fintech platforms, this creates opportunities to serve customers who want access to international markets through simpler digital experiences.
The development also strengthens Razorpay's regulatory footprint alongside its existing Reserve Bank of India approvals across online, offline and cross-border payments.
As GIFT City continues to develop as an international financial hub, infrastructure providers could play an important role in connecting Indian businesses, investors and financial platforms with global markets.
Razorpay's latest approval is therefore more than a regulatory milestone. It represents a broader shift towards building integrated, compliant and scalable financial infrastructure for India's increasingly connected economy.
