Decentro becomes 1st Indian payment aggregator with IFSCA PSP license
Decentro, a fintech startup from Bengaluru, just made history as the first Indian payment aggregator to secure final approval for a PSP license from the International Financial Services Centres Authority (IFSCA).
Announced on May 27, this gives Decentro the green light to run cross-border payment services out of GIFT City, India's global finance hub.
With this move, they are set to offer multi-currency accounts, international collections, escrow services, and smooth payment settlements.
Launching 4 services and hiring staff
Decentro is gearing up to launch four big services: merchant acquisition, virtual accounts, cross-border money transfers, and escrow solutions.
To make it happen, they will be hiring more people in business development and banking partnerships.
Everything will be regulated by IFSCA alongside designated banks.