Infibeam Avenues subsidiary gets IFSCA nod to operate as payment service provider at GIFT-IFSC

The International Financial Services Centres Authority (IFSCA) has granted in-principle approval to IA Fintech IFSC, a subsidiary of Infibeam Avenues, to operate as a Payment Service Provider (PSP) within Gujarat International Finance Tec-City (GIFT-IFSC).

The approval will allow IA Fintech

to offer regulated payment and settlement services, including escrow operations, cross-border remittances, and merchant payment processing, subject to final authorisation and compliance with statutory requirements.

Entities at GIFT-IFSC currently rely largely on traditional correspondent banking routes for international payments, which can involve multiple intermediaries and longer settlement times. The new PSP framework is expected to facilitate faster and more cost-effective cross-border transactions within the zone.

GIFT-IFSC, India’s designated international financial centre located in Gandhinagar, is being developed as a hub for global financial and fintech operations. It currently hosts a range of participants including investment funds, broker-dealers, bullion traders, and leasing companies.

According to official data, trade finance transaction volumes at GIFT-IFSC rose from $20 billion in FY22 to $46 billion in FY25.

The IFSCA serves as the unified regulator for financial products, institutions, and services within the IFSC ecosystem. The in-principle approval for IA Fintech adds to ongoing efforts to expand digital infrastructure and financial intermediation capabilities at the centre.