Gandhinagar: Infibeam Avenues Ltd, a leading listed AI-driven fintech company, today announced that the International Financial Services Centres Authority (IFSCA) has granted in-principle approval to its wholly owned subsidiary, IA Fintech IFSC Private Ltd (IA Fintech), to operate as a Payment Service Provider (PSP) in the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC).

With this in-principle approval, IA Fintech is set to offer a broad suite of digital payment and cross-border financial services to businesses operating within GIFT-IFSC and international markets. These services will include escrow account operations, cross-border money transfer facilitation, and merchant acquisition—enabling enterprises with faster, more efficient, and regulated payment solutions, the company said.

“We are delighted with this approval and deeply grateful to the IFSCA for their trust in our fintech capabilities,” said Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd. “This opportunity marks an important expansion of our business, creating a new and high-potential revenue stream that can meaningfully contribute to our overall growth.”

According to the official statement, upon obtaining final authorization and meeting all statutory requirements, IA Fintech will be permitted to:

• Provide escrow services for secured financial settlements

• Enable cross-border remittances into and out of the GIFT-IFSC/SEZ area

• Facilitate payment processing and settlement for merchants