Infibeam Avenues Limited has informed the Exchange about Receipt of In-Principle Approval by IA Fintech IFSC Private Limited, our Wholly Owned Subsidiary Company to act as a Payment Service Provider (PSP) in GIFT-IFSC
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Infibeam Avenues Limited announced that its wholly owned subsidiary, IA Fintech IFSC Private Limited, has received in-principle approval to operate as a Payment Service Provider (PSP) in GIFT-IFSC, India's international financial services hub located in Gujarat. This approval enables the subsidiary to offer cross-border payment services from the IFSC jurisdiction. The move is part of the company's strategy to expand its fintech and payment services footprint into international markets. GIFT-IFSC provides favorable regulatory and tax benefits for financial services companies targeting global clients.
This is a positive development that strengthens Infibeam's position in the payments space and could open new revenue streams from cross-border and international payment services, potentially supporting long-term growth.