Mumbai, Aug 3: WSFx Global Pay Ltd., trusted standard in global payments and India’s fintech in foreign exchange and cross-border payments, announced that it has received an expanded Authorised Dealer Category II licence from the Reserve Bank of India under FEMA 2026, significantly broadening the scope of foreign exchange and cross-border payment services it is authorised to offer. The enhanced authorisation marks a significant milestone in GlobalPay’s journey as one of India’s fintech companies in the foreign exchange and cross-border payments space.
With the Reserve Bank of India issuing a perpetual Authorised Dealer Category II licence with an enhanced scope of transactions under FEMA 2026 , GlobalPay is now authorised to offer a broader suite of regulated foreign exchange and cross-border payment services. The approval enables the company to support a wider range of customer requirements across international trade, remittances and foreign exchange, while further strengthening its commitment to delivering secure, compliant and seamless global payment solutions. Under the expanded licence, GlobalPay is now authorised to:
- Undertake all eligible non-trade current account transactions
- Facilitate inward and outward trade remittances up to INR 25 lakh
- Appoint Forex Correspondent Agencies to expand the reach of regulated foreign exchange services across the country
The approval significantly enhances GlobalPay’s ability to cater to individuals, students, travellers, corporates, exporters, importers and financial institutions through a comprehensive suite of RBI-regulated foreign exchange and cross-border payment services.
Srikrishna Narasimhan, CEO & Whole-Time Director, GlobalPay, said,
“This expanded Authorised Dealer Category II licence marks an important milestone in GlobalPay’s growth journey and reinforces our vision of building India’s most trusted cross-border payments platform. As global mobility, international education, outbound travel and cross-border trade continue to accelerate, customers increasingly expect seamless, secure and compliant forex and remittance solutions. This enhanced authorisation allows us to meet these evolving needs through a broader suite of regulated services while maintaining the highest standards of governance, transparency and customer trust. We believe this approval further strengthens our ability to support individuals, businesses and partners with innovative solutions that simplify cross-border financial transactions and contribute to India’s rapidly expanding global payments ecosystem.”
The enhanced licence comes at a time when India’s cross-border payment landscape is witnessing rapid growth, fuelled by increasing international travel, overseas education, expanding global trade and rising demand for seamless international payment solutions. With its strengthened regulatory authorisation, GlobalPay is well positioned to support these evolving needs while continuing to drive innovation and trust in the country’s foreign exchange ecosystem.