The National Payments Corporation of India (NPCI) has applied to establish a techfin unit at Gujarat International Finance Tec-City (GIFT City). According to reports from The Hindu BusinessLine, the proposed facility will be located on the 18th floor of the newly-constructed International Financial Services Centres Authority (IFSCA) headquarters building within GIFT City's Special Economic Zone (SEZ). The unit will cover approximately 474 square metres and is expected to employ 25 professionals, comprising 13 men and 12 women, operating as a branch office funded by NPCI's head office. As per GoCredit, this move could make India's digital payment systems faster, more secure, and globally connected - directly affecting how users pay, transfer money, and stay protected from fraud.
The proposed unit will undertake techfin activities under the IFSCA TechFin and Ancillary Services Regulations, 2025, as reported by The Hindu BusinessLine. Introduced earlier this year, the regulatory framework enables technology companies to provide digital solutions and ancillary services to banks, insurance companies, capital market intermediaries, fintech firms and other regulated entities operating from GIFT IFSC. The centre is expected to support innovation in real-time payments, fraud detection systems, and international UPI expansion to more countries, according to GoCredit. This move reflects NPCI's expanding focus on technology-driven financial innovation beyond domestic payment infrastructure.
NPCI's application comes amid rising interest from technology firms seeking to establish presence in the international financial centre. According to The Hindu BusinessLine, several leading technology companies have already operationalised or announced techfin centres in GIFT City, including Infosys, Cognizant, HCL Technologies, Wipro and Hexaware, which are collectively expected to create more than 5,600 jobs over the coming years. Last month, Navadata Intelligence IFSC LLP also applied to set up a techfin services unit at the Shilp Incubation Centre in GIFT City's SEZ. As per GoCredit, GIFT City operates under a special regulatory zone, allowing faster experimentation with fintech products, cross-border payment infrastructure, and global financial services.
So far, around 18 entities have either secured regulatory approvals or announced plans to establish techfin operations in GIFT City, as reported by The Hindu BusinessLine. Industry estimates suggest the sector could eventually generate nearly 50,000 high-skilled jobs, positioning GIFT City as a specialised destination where technology and financial services converge to support cross-border innovation and serve global financial institutions. The move adds to the growing list of technology companies setting up operations in India's only International Financial Services Centre (IFSC), reinforcing GIFT City's emergence as a global hub for financial technology services. According to GoCredit, India processes over 500 crore UPI transactions a month - more than most countries combined, highlighting the scale of impact this techfin centre could have on the country's digital payment infrastructure.
