Infibeam Avenues unit gets nod to operate as payment service provider at GIFT-IFSC
28 Oct 2025, 02:34 PMThis authorization will allow the subsidiary to provide escrow solutions, facilitate international money transfers, and onboard merchants through the GIFT City framework.
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Payments firm Infibeam Avenues has said that its wholly-owned subsidiary, IA Fintech, has received preliminary approval from the International Financial Services Centres Authority to function as a payment service provider within GIFT City's International Financial Services Centre.
This authorization will allow the subsidiary to provide escrow solutions, facilitate international money transfers, and onboard merchants through the GIFT City framework, the company said in a stock exchange disclosure.
The payment service provider authorization represents a strategic opportunity for Infibeam Avenues to deliver payment and settlement solutions to its global customers directly from India.
Established in 2007 by Vishal Mehta, Infibeam specializes in digital payment infrastructure and enterprise software platforms.
Earlier this year, Infibeam transferred its ecommerce operations to subsidiary Rediff.com through a slump sale valued at Rs 800.39 crore, allowing the parent company to concentrate on expanding its CCAvenue payment gateway and Phronetic.ai artificial intelligence services.
The company also secured Rs 700 crore through a rights offering in June to bolster its AI capabilities, and obtained third-party application provider authorization from the National Payments Corporation of India for its RediffPay platform.
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