WSFx Global Pay Gets Expanded RBI AD Category II Licence

WSFx Global Pay Ltd (GlobalPay) has received an expanded Authorised Dealer Category II (AD II) licence from the Reserve Bank of India (RBI). This enhanced authorisation significantly broadens the scope of foreign exchange and cross-border payment services the company can offer. The licence allows GlobalPay to undertake eligible non-trade current account transactions, facilitate trade remittances up to INR 25 lakh, and appoint Forex Correspondent Agencies. This move is expected to reinforce GlobalPay's position as a leading cross-border payments fintech in India, catering to a wider range of customer needs in international trade, remittances, and foreign exchange.