IFSCA awards Niyo payment service provider license for GIFT City
Niyo, a fintech platform, just scored a payment service provider license from the International Financial Services Centres Authority (IFSCA), letting it operate out of GIFT City.
This move means Niyo can now offer much more than just travel forex: They're planning to help with international education payments, jobs abroad, spending, and sending money across borders.
Niyo expands branches more than fourfold
After acquiring Capital India Finance's forex business, which operates under the RemitX brand, Niyo's branch network has grown more than four times bigger across India.
They're also upgrading their technology so you can use their services easily, whether you walk into a branch or tap on their app.
As Chief Business Officer Sai Sankar puts it, this step is all about meeting the rising demand from students and professionals needing smooth international money solutions: The globalizing consumer is no longer defined by travel alone. International education, employment, spending, and money movement are becoming an increasingly important part of consumers' financial lives.