Compliance
Where we stand
A plain account of our status, and of how checks, data and records are designed to work at launch.
Our status
NivixPe is in development. It intends to seek authorisation from the International Financial Services Centres Authority (IFSCA) as a Payment Service Provider for cross-border money transfer.
NivixPe holds no licence or authorisation today and is not yet accepting payments.
Until that changes, this page describes how NivixPe is being built, not a service you can use. At launch, collection in India and payout abroad will be carried out by licensed partners, subject to regulatory approval.
NivixPe today
- Status
- In development
- Licence
- None yet
- Accepting payments
- No
Where customer money sits
Who holds the money at each stage of a payment at launch.
| Stage | Who holds the money | Currency |
|---|---|---|
| Customer pays | Licensed Indian payment partner | Indian rupees |
| Recipient paid | NivixPe's own funds, placed in advance with the payout partner | Destination currency |
| Conversion and remittance | The partner's AD Category-1 bank, then escrow at an IFSC Banking Unit in GIFT City | Rupees converted to foreign currency |
| Settlement | NivixPe's escrow will refill NivixPe's own funds | Foreign currency |
At launch, your money will only ever sit with regulated institutions. Recipients will be paid from NivixPe's own funds.
Checks, data and records
What is designed to happen at launch.
Know your customer
Every customer will be verified before their first payment.
Anti-money laundering
Every payment will be screened against sanctions lists before it is released.
Data protection
Personal data will be handled under the Digital Personal Data Protection Act, 2023: encrypted, used only for the purposes we state, and deleted on request where the law allows.
Audit trail
Each step of a payment will be written to a tamper-evident record, designed so that a partner bank can counter-sign it. It will hold no personal data.
Questions
Write to team@nivixpe.com with any question or complaint, or see the contact page.