GlobalPay Launches Forex Card Partner Platform

By Milan Rojan

GlobalPay has launched GlobalPay Connect, a forex card distribution platform designed to expand access to multi-currency forex cards through RBI-licensed financial institutions across India.

Srikrishna Narasimhan, Chief Executive Officer and Whole-Time Director at GlobalPay, said: “The launch of GlobalPay Connect represents an important strategic milestone as we expand from being a forex card issuer to creating a wider distribution network through trusted partners. We believe institutions with the right regulatory credentials and customer reach deserve access to a robust, compliant and scalable forex solution that enables them to grow alongside us.”

The platform has enabled Authorised Dealer Category-II (AD II) Forex Dealers, Full-Fledged Money Changers (FFMCs) and banks to become Authorised GlobalPay Forex Card Distributors, allowing them to offer GlobalPay’s forex card solutions while creating new revenue opportunities.

GlobalPay Connect has supported the distribution of multi-currency forex cards that can be used across more than 180 countries and support 30 currencies. The cards have included Tap & Pay functionality alongside digital load and reload capabilities through the GlobalPay mobile application.

The initiative has also provided partners with onboarding support, dedicated relationship management, operational assistance, marketing resources and access to GlobalPay’s technology and compliance infrastructure. The company has positioned the platform as a scalable distribution model aimed at serving travellers, students, corporates and international remitters.

GlobalPay has stated that the launch has reflected rising demand for secure foreign exchange solutions as outbound travel, overseas education and international business activities continue to grow in India.

The company has aimed to strengthen the country’s forex ecosystem by working with licensed financial institutions to expand the availability of compliant, technology-enabled cross-border payment solutions while supporting long-term partner growth.