GIFT City, Gandhinagar, January 21, 2026: EbixCash World Money, a flagship subsidiary of Eraaya Lifespaces Limited and a major player in international payments, foreign exchange, and remittance solutions, has announced that its wholly owned subsidiary Buyforex has received in principle approval for Payment Service Provider authorization at GIFT IFSC.
The approval has been granted by the International Financial Services Centres Authority and allows Buyforex to operate as a regulated payment service provider from GIFT IFSC, subject to fulfilment of final conditions. With this, Buyforex becomes the first Authorised Dealer Category II group entity to secure in principle PSP authorization at the international financial hub.
Under the approval, Buyforex is permitted to undertake four core payment services: account issuance, e money issuance, merchant acquisition, and cross border fund transfers. This significantly expands the group’s regulated payments capabilities and strengthens its position in the global payments ecosystem.
The development enhances EbixCash Group’s ability to deliver secure, compliant, and scalable payment solutions to international merchants, financial institutions, and enterprises, while leveraging GIFT IFSC’s globally aligned regulatory environment.
Commenting on the milestone, T C Guruprasad, CEO and Managing Director of the Payments Business at EbixCash, said the approval marks a major step in the group’s compliance led growth journey and reinforces its credentials as a regulated global payments player. He added that the authorization will support expansion of cross border payment capabilities while contributing to GIFT IFSC’s emergence as a world class financial ecosystem.
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With this approval, EbixCash World Money, through Buyforex, is positioned to support global commerce, international remittances, and merchant payment flows through a future ready payments infrastructure anchored in India.
The move further underlines EbixCash’s focus on building regulated, technology driven financial platforms that meet international standards while serving global markets from India.
