WSFx Global Pay Limited company name has secured an expanded Authorised Dealer Category II (AD II) licence from the Reserve Bank of India (RBI), significantly broadening its scope for offering regulated foreign exchange and cross-border payment services. The approval, issued on August 3, 2026, marks a strategic expansion of the fintech’s operational capabilities, allowing it to serve a wider range of customers including individuals, students, travellers, corporates, exporters, importers, and financial institutions.

The enhanced authorisation was granted under FEMA 2026 (Notification No. FEMA 401/2026). It is a perpetual licence that strengthens the company’s position in India’s growing cross-border payments ecosystem. The filing was submitted to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Expanded Service Capabilities

The new licence enables WSFx Global Pay Limited to undertake a broader suite of transactions. Key permissions under the expanded authorisation include:

These permissions allow the company to support evolving customer needs across international trade, remittances, and foreign exchange while maintaining compliance with RBI regulations.

Strategic Impact

Srikrishna Narasimhan, CEO & Whole-Time Director of WSFx Global Pay Limited, stated that the expanded licence reinforces the company’s vision of building India’s most trusted cross-border payments platform. He noted that global mobility, international education, outbound travel, and cross-border trade are accelerating, driving demand for seamless and secure forex 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," Narasimhan said.

Market Context

India’s cross-border payment landscape is witnessing rapid growth due to increasing international travel, overseas education, and expanding global trade. With 25+ branches pan-India, a network of 850+ corporates, and 650+ agents, WSFx Global Pay Limited is positioned to leverage this regulatory enhancement to drive innovation in the foreign exchange sector. The company continues to emphasise trust, innovation, compliance, and customer-centricity in its operations.

WSFX Global Pay has launched GlobalPay Connect, a strategic Forex Card Distribution Platform designed to expand India's forex distribution ecosystem through partnerships with RBI-authorised entities. The initiative enables Authorised Dealer Category-II entities, Full Fledged Money Changers (FFMCs), and Banks to partner with the company as Authorised GlobalPay Forex Card Distributors. This move aims to strengthen distribution capabilities and create a scalable platform for long-term growth in the forex card business.

The program leverages the company's four decades of foreign exchange expertise, its RBI Authorised Dealer Category-II licence, and its proprietary digital platform. GlobalPay Connect represents a significant milestone in the company's strategy to build a nationwide partner-led distribution ecosystem.

Key Features of GlobalPay Connect

The program offers a comprehensive product suite and end-to-end support for partners. The key features include:

• Comprehensive Product Offering: Distribution of secure multi-currency forex cards supporting transactions in 30 currencies across more than 180 countries. Features include contactless Tap & Pay, real-time card management, and digital self-service through the GlobalPay App.
• Partner Enablement: End-to-end support covering partner onboarding, technology integration, compliance, training, operations, and business development.
• Strategic Expansion: The initiative focuses on building a nationwide partner-led distribution ecosystem.

The company believes that GlobalPay Connect will expand its market reach and enable partners to establish and scale their forex card business efficiently.