Investment21 Jan 2026, 01:38 pm
Eraaya Lifespaces' Subsidiary EbixCash World Money Receives In-Principle PSP Approval at GIFT IFSC
AI Summary
EbixCash World Money, a flagship subsidiary of Eraaya Lifespaces limited, announced that Buyforex, its wholly owned subsidiary, has received in-principle approval for Payment Service Provider (PSP) authorization at GIFT IFSC. This makes Buyforex the first Authorised Dealer Category-II (AD-IT) group entity to achieve this milestone. The approval enables Buyforex to undertake e Account issuance, e-money issuance, merchant acquisition, and cross-border fund transfers. This milestone significantly strengthens the EbixCash Group’s regulated payments footprint and supports India’s ambition to position GIFT IFSC as a global hub for cross-border payments and financial services.
Key Highlights
- EbixCash World Money's subsidiary, Buyforex, receives in-principle PSP approval at GIFT IFSC
- Buyforex is the first AD-II group entity to receive this authorization
- Approval enables Buyforex to undertake four key payment services
- This milestone strengthens EbixCash Group’s regulated payments footprint
- Authorisation supports India’s ambition to position GIFT IFSC as a global hub for cross-border payments and financial services