Glomo, a regulated payment service provider operating at GIFT IFSC, 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 milestone marks a significant advancement in India's cross-border payments ecosystem while reinforcing the growing strategic importance of GIFT IFSC as a globally connected financial infrastructure hub.
With Visa’s Principal Membership, Glomo can now process Visa-powered card payments directly for merchants acquired on its platform. The capability enables businesses operating across international markets to accept and settle cross-border card payments through compliant infrastructure based at GIFT City. The direct integration also provides greater control over transaction approval optimization, fraud detection, risk monitoring, and native dispute and chargeback management through Visa’s network. Glomo has already introduced these capabilities through its direct merchant acquisition model and technology integrations.
The direct acquiring framework is expected to improve operational efficiency by significantly reducing the time traditionally required for merchant onboarding and payment processing through banking intermediaries. Faster onboarding and direct connectivity to Visa’s network are expected to benefit exporters, artificial intelligence platforms, marketplace businesses, Software-as-a-Service companies, financial services firms and institutions, education platforms, and enterprises serving customers across multiple international markets. The company also plans to strengthen its card infrastructure by expanding into issuing products.
Commenting on the development, Akash Arun, Founder and Chief Executive Officer of 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. Glomo’s direct participation in the Visa network strengthens merchant acquiring capabilities from GIFT IFSC and expands access to secure, globally connected payment solutions for businesses with cross-border ambitions. We look forward to working with Glomo as it develops solutions for merchants and enterprises with international payment requirements.”
Visa’s Principal Membership also enables Glomo to independently manage the commercial and operational aspects of merchant acquiring instead of processing transactions through another institution’s acquiring license. This provides the company with greater control over merchant onboarding, payment processing, settlement, risk policies, and the overall merchant experience. The arrangement can also reduce unnecessary foreign exchange conversion costs and overcome limitations associated with intermediary-led transaction processing.
The announcement comes as an increasing number of Indian businesses expand internationally and require a payment infrastructure capable of managing multiple currencies, banking systems, and regulatory requirements. Glomo stated that it remains committed to building a unified financial platform that integrates global payment collection, payouts, treasury management, outward remittances, identity verification, and compliance infrastructure to support businesses operating across international markets. The achievement further strengthens the role of GIFT IFSC in India's evolving global financial ecosystem while enhancing the availability of secure, efficient, and transparent cross-border payment solutions for enterprises with international ambitions.
About The Author
Comment List