Buyforex Secures In-Principle PSP Approval at GIFT IFSC
In January 2026, EbixCash World Money, a subsidiary of Eraaya Lifespaces Limited, announced that its wholly owned entity Buyforex received in-principle approval for Payment Service Provider (PSP) authorisation from the International Financial Services Centres Authority (IFSCA) at Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC).
In January 2026, EbixCash World Money, a subsidiary of Eraaya Lifespaces Limited, announced that its wholly owned entity Buyforex received in-principle approval for Payment Service Provider (PSP) authorisation from the International Financial Services Centres Authority (IFSCA) at Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC).
- With this approval, Buyforex became the first Authorised Dealer Category-II (AD-II) licensed group entity to achieve this milestone.
About PSP Authorisation :
Permitted Services: The approval allows Buyforex to undertake four regulated payment services: account issuance, e-money issuance, merchant acquisition, and cross-border fund transfers.
Impact: The authorisation allows Buyforex to operate as a regulated PSP under GIFT IFSC, strengthening the EbixCash Group’s payments footprint and supporting India’s vision of GIFT IFSC as a global cross-border payments hub.
Enablement: The authorisation enables delivery of secure, compliant, and scalable payment solutions to international merchants and financial institutions.
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