{"id":11516,"date":"2021-12-27T14:54:24","date_gmt":"2021-12-27T09:24:24","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-indusind-bank-npci\/"},"modified":"2021-12-27T16:16:36","modified_gmt":"2021-12-27T10:46:36","slug":"biz-indusind-bank-npci","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-indusind-bank-npci\/","title":{"rendered":"IndusInd Bank, NPCI partner to simplify cross-border remittances through UPI"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1286830155\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Dec 27 (PTI) Indians can now get remittance money from their foreign sources in a much easier way as IndusInd Bank has tied up with NPCI to facilitate cross-border money transfer by using UPI IDs of the beneficiaries.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3697547476\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> This will obviate the need to remember one&#8217;s bank account details to send money.<\/p>\n<p> IndusInd Bank has joined hands with the National Payments Corporation of India (NPCI) to offer real-time cross-border remittances to India using UPI IDs, for its money transfer operator (MTO) partners, the bank said in a statement on Monday.<\/p>\n<p> With this initiative, IndusInd Bank has become the first Indian bank to go live on UPI for cross-border payments or NRI remittances.<\/p><div class=\"trade-content_5\" id=\"trade-2654675782\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Under this arrangement, the MTOs will use the IndusInd Bank channel to connect with the NPCI&#8217;s UPI payment systems for validation and cross-border payment settlement into beneficiary accounts.<\/p>\n<p> To begin with, IndusInd Bank has started with Thailand for foreign inward remittance (FIR) through UPI by using DeeMoney.<\/p>\n<p> DeeMoney is a Thailand-based financial solutions provider offering money transfers and foreign currency exchange services.<\/p>\n<p> By adding the UPI IDs of the beneficiaries&#8217; in India on the DeeMoney website, one can easily transfer funds.<\/p>\n<p> IndusInd Bank said it also plans to add more partners in various other countries for cross-border payments via UPI in the near future.<\/p>\n<p> &#8220;It&#8217;s a significant step towards simplifying remittances as a functionality, as individuals residing overseas will now be able to conveniently transfer money to a beneficiary by simply adding their UPI IDs, without having to remember their bank account details,&#8221; Soumitra Sen, head (consumer banking and marketing) at IndusInd Bank, said.<\/p><div class=\"trade-content-10\" id=\"trade-3624236108\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Sen added that enabling foreign remittance through UPI is a major milestone towards strengthening its usage as a platform, and will go a long way in enhancing its adoption by NRIs across geographies.<\/p>\n<p> NPCI Chief Operating Officer Praveena Rai hoped that the initiative will offer a much simpler and more efficient remittance experience for international travellers using UPI.<\/p>\n<p> &#8220;We are confident that our association would act as one of the major contributing factors towards the evolution of cross-border payments through UPI,&#8221; she said. PTI KPM  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-2529602449\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 27 (PTI) Indians can now get remittance money from their foreign sources in a much easier way as IndusInd Bank has tied up with NPCI to facilitate cross-border money transfer by using UPI IDs of the beneficiaries. This will obviate the need to remember one&#8217;s bank account details to send money. IndusInd [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-11516","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IndusInd Bank, NPCI partner to simplify cross-border remittances through UPI - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-indusind-bank-npci\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IndusInd Bank, NPCI partner to simplify cross-border remittances through UPI\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 27 (PTI) Indians can now get remittance money from their foreign sources in a much easier way as IndusInd Bank has tied up with NPCI to facilitate cross-border money transfer by using UPI IDs of the beneficiaries. 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