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Foreign Remittance Through UPI - IndusInd Bank Ties Up With Thai Partner

Writer: MyRupayaMyRupaya
Dec 31, 20211 min read

Indians may now receive remittance money from overseas sources in a far more convenient manner, thanks to a partnership between IndusInd Bank and the National Payments Corporation of India (NPCI) to simplify cross-border money transfers utilising recipients' UPI IDs.


This eliminates the need to recall one's bank account information in order to send money.


IndusInd Bank has partnered with the National Payments Corporation of India (NPCI) to provide its money transfer operator (MTO) partners real-time cross-border remittances to India using UPI IDs, the bank said on Monday.


IndusInd Bank has made history by being the first Indian bank to implement UPI for cross-border payments and NRI remittances.


To begin, IndusInd Bank has established a partnership with Thailand for foreign inward remittance (FIR) using UPI and DeeMoney.


DeeMoney is a Thai-based financial solutions firm that specialises in money transfers and currency conversion.


It is simple to transfer payments by entering the UPI IDs of the beneficiaries in India on the DeeMoney website.


 

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