GIFT City, Gujarat, 21 July: Glomo, a regulated payment service provider at GIFT IFSC, today announced that it has become the first GIFT IFSC-licensed payment service provider and the first non-bank acquirer in India to receive Visa’s Principal Member status. The development marks a significant step in the evolution of India’s cross-border payments ecosystem and highlights the growing importance of GIFT IFSC for globally connected financial infrastructure.
As Visa’s Principal Member, Glomo can process Visa-powered card payments directly for merchants acquired on its platform, helping businesses operating across markets accept and settle international card payments through compliant infrastructure based at GIFT City. The direct arrangement provides greater control over transaction approvals, fraud and risk monitoring, dispute management, merchant onboarding, and payment processing while improving operational efficiency for businesses with global ambitions.
Commenting on the announcement, Akash Arun, Founder and CEO, Glomo, said:
“Cross-border card payments often pass through multiple intermediaries, which can create friction across settlement, transaction approvals, risk management and dispute handling. Becoming Visa’s Principal Member gives us direct control over these critical parts of the payment chain. For merchants, this can translate into more predictable settlement, improved control over payment performance and a more consistent experience as they expand across markets. It is also an important validation of the financial infrastructure being built at GIFT IFSC. Our focus now is to use this capability responsibly and help businesses move money across borders with greater transparency, efficiency and control.”
Rishi Chhabra, Country Manager, India, Visa, said:
“We are pleased to welcome Glomo as a Principal Member of the Visa network. As Indian businesses expand across borders, trusted and secure payment infrastructure becomes critical to enabling commerce that is seamless, reliable and resilient. Visa’s global payments network, built on decades of trust, security and scale, will play a crucial role in supporting this evolution by helping merchants accept payments confidently, manage risk effectively and serve customers across markets.”
Visa’s Principal Membership further enables Glomo to manage the commercial and operational aspects of acquiring directly, offering greater control over merchant onboarding, payment processing, settlement, and risk policies. The company plans to further strengthen its card infrastructure capabilities while continuing to build a unified financial platform for global businesses operating across multiple markets.
