New Delhi, Oct. 28 -- Infibeam Avenues Ltd on Tuesday announced that the International Financial Services Centres Authority (IFSCA) has granted in-principle approval to its subsidiary, IA Fintech IFSC Private Ltd (IA Fintech), to operate as a Payment Service Provider (PSP) at the Gujarat International Finance Tec-City - International Financial Services Centre (GIFT-IFSC). This approval allows IA Fintech to offer digital payment and cross-border financial services, including escrow account operations, cross-border money transfer facilitation, and merchant acquisition.

GIFT-IFSC, located in Gandhinagar, Gujarat, is a special economic zone (SEZ) and international financial hub. The IFSCA, a regulatory body established by the Government of I...