GlobalPay disclosed to the stock exchange that the RBI has expanded its licence, letting it offer a wider range of forex and payment services.

The company, known formally as WSFx Global Pay, already held an Authorised Dealer Category II licence, and this update broadens what it can now legally offer customers.

The approval falls under the Foreign Exchange Management Act, 2026, through a specific RBI notification issued this year.

In simple terms, this means GlobalPay can now handle a broader set of foreign currency transactions on behalf of its customers, not just the limited categories it was allowed to offer before.

With this expanded scope, GlobalPay can process most types of non-trade foreign currency transactions, except for gifts and donations.

It can also handle trade-related remittances, meaning payments linked to buying and selling goods internationally, of up to ₹25 lakh per transaction.

On top of that, the company is now allowed to appoint local forex correspondent agencies, essentially local partners who can offer these services on GlobalPay’s behalf, helping it reach more cities and customers without opening branches everywhere itself.

The company said this update is meant to serve a wide mix of customers, including individuals sending money abroad, students paying international tuition fees, frequent travellers, and businesses that import or export goods.

Speaking on the update, GlobalPay’s CEO and Whole-Time Director, Srikrishna Narasimhan, said rising global travel, overseas education, and international trade are pushing customers to expect forex and remittance services that are both fast and fully compliant with regulations.

The timing is consistent with a more general pattern. More Indians are studying abroad, travelling internationally, and running businesses that deal in foreign currency, all of which increases demand for reliable forex providers.

GlobalPay is listed on the BSE and has operated under RBI’s forex and payment regulations for some time, so this expanded licence builds on a base it already had, rather than being an entirely new line of business.

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