EbixCash Becomes the First to Launch UPI for Foreign Nationals visiting India
EbixCash Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it has become the first company in India to pioneer, launch and enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India. This new capability will allow a Foreign national visiting India to pay for goods and services in India, using UPI in seconds.
As a part of that initiative, EbixCash has become the first financial services entity in the country to enable UPI services for foreign delegates attending the G-20 summit being held in India. EbixCash will be carrying out a pilot launch shortly in Bangalore at the G-20 summit, involving dignitaries from the world's 20 most powerful nations.
T C Guruprasad, Managing Director, Payment Solutions Division and EbixCash World Money said. “We are excited to announce the launch of UPI for foreign nationals exchanging currencies across airports in India. This is in line with our commitment to embrace the vision of India's Prime Minister Mr. Narendra Modi to promote digital transactions in India. This would enable passengers to visit our airport counters across India for converting their foreign currency into digital Indian currency, with a UPI interface to pay for goods and services across the country”.
EbixCash World Money, the foreign exchange division of EbixCash Limited holds a leadership position in the foreign exchange business in India, with a vast network encompassing 81+ retail branches, 250 franchisee partners and duty-free shops, 27+ bank clients, 1200+ corporate clients including top fortune 500 clients and 5-star hotels in India. EbixCash World Money is also a leading player in India's airport and seaport Money Exchange business with retail kiosks in 20 international airports, and 12 seaports.
About EbixCash
With a "Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia, to an Omni-channel online digital platform, the Company's Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending and wealth management across 75+ countries including India. EbixCash has Forex operations in approximately 20 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients. EbixCash's financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries. For more information, visit the Company's website at www.ebixcash.com
As a part of that initiative, EbixCash has become the first financial services entity in the country to enable UPI services for foreign delegates attending the G-20 summit being held in India. EbixCash will be carrying out a pilot launch shortly in Bangalore at the G-20 summit, involving dignitaries from the world's 20 most powerful nations.
T C Guruprasad, Managing Director, Payment Solutions Division and EbixCash World Money said. “We are excited to announce the launch of UPI for foreign nationals exchanging currencies across airports in India. This is in line with our commitment to embrace the vision of India's Prime Minister Mr. Narendra Modi to promote digital transactions in India. This would enable passengers to visit our airport counters across India for converting their foreign currency into digital Indian currency, with a UPI interface to pay for goods and services across the country”.
EbixCash World Money, the foreign exchange division of EbixCash Limited holds a leadership position in the foreign exchange business in India, with a vast network encompassing 81+ retail branches, 250 franchisee partners and duty-free shops, 27+ bank clients, 1200+ corporate clients including top fortune 500 clients and 5-star hotels in India. EbixCash World Money is also a leading player in India's airport and seaport Money Exchange business with retail kiosks in 20 international airports, and 12 seaports.
About EbixCash
With a "Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia, to an Omni-channel online digital platform, the Company's Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending and wealth management across 75+ countries including India. EbixCash has Forex operations in approximately 20 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients. EbixCash's financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries. For more information, visit the Company's website at www.ebixcash.com
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