Decentro has secured the final payment service provider (PSP) licence at GIFT City, enabling it to offer a full suite of payment services from this financial hub. The licence allows Decentro to operate as a regulated PSP within the International Financial Services Centre (IFSC) at GIFT City, Gujarat, expanding its capabilities in cross-border payments and financial services, according to economictimes.indiatimes.com.
The company completed the licensing process with the International Financial Services Centres Authority (IFSCA), which governs financial activities at GIFT City. This final licence follows earlier approvals and positions Decentro as one of the few fintech firms authorized to provide comprehensive payment solutions at the IFSC. The firm can now facilitate a range of payment services including payment gateways, wallets, and other digital payment instruments under the regulatory framework of GIFT City.
This development is significant as GIFT City aims to become a global financial hub, attracting fintech companies and financial institutions with its regulatory and tax incentives. Decentro's licence places it alongside other key players in the fintech ecosystem operating within the IFSC. The move aligns with broader efforts to boost cross-border financial transactions and digital payments infrastructure in India, enhancing the country's position in global finance.
Decentro's new PSP licence at GIFT City allows it to expand its payment offerings and serve international clients from this strategic location. The company’s enhanced regulatory status was confirmed in the latest announcement by the International Financial Services Centres Authority, marking a key milestone in its growth within the Indian fintech sector.