GIFT City, Gujarat: Glomo, a regulated payment service provider operating from GIFT International Financial Services Centre (IFSC), has become the first GIFT IFSC-licensed payment service provider and the first non-bank acquirer in India to receive Visa Principal Member status. The milestone strengthens India’s cross-border payments ecosystem and reinforces GIFT IFSC’s position as a hub for globally connected financial infrastructure.
With Visa’s Principal Membership, Glomo will be able to process Visa-powered card payments directly for merchants onboarded to its platform. The capability enables businesses operating across international markets to accept and settle cross-border card payments through compliant infrastructure based at GIFT City, while reducing reliance on multiple intermediaries.
The direct integration provides greater control over key payment functions, including transaction authorisation, fraud and risk monitoring, merchant onboarding, dispute management, settlement, and payment processing. By managing these processes in-house, Glomo aims to improve operational efficiency and deliver a more seamless payment experience for businesses expanding globally.
Commenting on the development, Akash Arun, Founder and CEO of Glomo, said that cross-border card transactions often involve multiple intermediaries, creating friction in settlement, risk management, and dispute resolution. He noted that Visa’s Principal Membership gives the company direct control over these critical aspects of the payment chain, enabling more predictable settlements, improved payment performance, and greater transparency for merchants. He also described the recognition as a validation of the financial infrastructure being built at GIFT IFSC.
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Rishi Chhabra, Country Manager, India, Visa, welcomed Glomo as a Principal Member of the Visa network, stating that secure and reliable payment infrastructure is essential as Indian businesses expand internationally. He added that Visa’s global payments network will help merchants manage risk effectively while delivering seamless payment experiences across markets.
The Principal Membership further enables Glomo to oversee the commercial and operational aspects of merchant acquiring directly, including onboarding, settlement, payment processing, and risk policies. The company said it plans to strengthen its card infrastructure capabilities while continuing to build a unified financial platform for businesses operating across multiple global markets.
