Key Highlights
- Glomo has become India’s first non-bank acquirer to receive Visa Principal Membership.
- It is also the first GIFT IFSC-licensed payment service provider to join Visa’s network as a Principal Member.
- The move allows Glomo to process Visa card payments directly for merchants on its platform.
- The development is expected to strengthen India’s cross-border payment infrastructure and support global businesses.
India’s cross-border payments ecosystem has received a significant boost as Glomo announced that it has secured Visa Principal Membership, becoming the country’s first non-bank acquirer to achieve the milestone. The company is also the first payment service provider licensed at GIFT IFSC to join Visa’s global payments network as a Principal Member.
The announcement strengthens GIFT City’s position as India’s emerging international financial hub while giving businesses operating across borders access to a more streamlined and efficient payment infrastructure.
What Visa Principal Membership Means
Visa Principal Membership enables Glomo to acquire merchants directly and process Visa-powered card payments without relying on multiple intermediary institutions.
This direct relationship allows the company to manage key aspects of payment processing, including merchant onboarding, transaction approvals, settlements, fraud detection, risk management, and dispute resolution.
For businesses accepting international card payments, the change is expected to improve operational efficiency, provide greater visibility into transactions, and enable more predictable settlement timelines.
A Boost for Cross-Border Commerce
Cross-border payments often involve several financial institutions before a transaction is completed. While this model has supported global commerce for years, it can also introduce delays and operational complexity.
With direct access to Visa’s network, Glomo aims to simplify that process for businesses operating internationally.
According to Akash Arun, Founder and CEO of Glomo, becoming a Visa Principal Member gives the company greater control over critical parts of the payment chain, including settlements, transaction approvals, risk monitoring, and dispute handling.
He added that the milestone also validates the financial infrastructure being developed at GIFT IFSC, with the company’s focus remaining on helping businesses move money across borders with greater transparency, efficiency, and control.
Visa Backs India’s Growing Global Payments Infrastructure
Visa says the partnership comes at a time when more Indian businesses are expanding internationally and require secure, reliable payment infrastructure.
Rishi Chhabra, Country Manager, India at Visa, said the company’s global payment network is designed to help merchants accept payments confidently while managing risks and serving customers across multiple markets.
The partnership is expected to support businesses that increasingly depend on seamless international payment acceptance as digital commerce continues to grow.
Glomo Plans to Expand Its Financial Platform
Following the Visa Principal Membership, Glomo plans to further strengthen its acquiring and card payment capabilities while continuing to build its unified financial platform.
The company already provides businesses with services including cross-border payments, global payouts, treasury management, identity verification, anti-money laundering (AML) screening, and outward remittances across multiple currencies.
Glomo operates as a regulated payment service provider under the International Financial Services Centres Authority (IFSCA) at GIFT City and is also PCI-DSS certified, enabling it to offer secure payment infrastructure to enterprises operating across international markets.
Why This Matters
India’s ambitions to become a global fintech and financial services hub depend on building world-class payment infrastructure that supports international commerce. Glomo becoming the country’s first non-bank Visa Principal Member represents an important step in that direction.
By reducing reliance on intermediaries and giving merchants more direct access to payment processing, the move has the potential to improve settlement efficiency, strengthen risk management, and make cross-border transactions more seamless. It also reinforces GIFT City’s growing role as a gateway for global financial services, as India continues to modernize its digital payments ecosystem.
