Core Insights - Buyforex, a wholly owned subsidiary of EbixCash World Money, has received in-principle approval for Payment Service Provider (PSP) authorization at GIFT IFSC, marking it as the first Authorised Dealer Category-II (AD-II) group entity to achieve this milestone [1][2] Group 1: Approval and Services - The approval was granted by the International Financial Services Centres Authority (IFSCA), allowing Buyforex to operate as a regulated PSP, subject to final conditions [2] - Buyforex is authorized to provide four key payment services: account issuance, e-money issuance, merchant acquisition, and cross-border fund transfers [2] Group 2: Strategic Importance - This milestone enhances the EbixCash Group's regulated payments footprint and supports India's goal to establish GIFT IFSC as a global hub for cross-border payments and financial services [2][4] - The authorization allows the group to deliver secure, compliant, and globally scalable payment solutions to international merchants, financial institutions, and enterprises [3] Group 3: Company Vision - The CEO of EbixCash highlighted that this PSP approval is a landmark achievement, emphasizing the company's strong regulatory credentials and commitment to compliance-led growth [4] - With this approval, EbixCash World Money is positioned to support global commerce, international remittances, and merchant payment flows through a robust payments infrastructure anchored in India [4][5] Group 4: Company Overview - EbixCash is recognized as India's leading end-to-end digital financial services platform, integrating an omni-channel digital presence with a physical distribution network of over 650,000 outlets [6] - The company operates across various sectors including payments, remittances, foreign exchange, prepaid cards, travel, insurance, and financial technology, serving a wide geographical area [6]