UAE-based non-resident Indians can now use a locally issued credit card and bank transfers to seamlessly transfer money to any bank account in India through Remit2India, a global leader in online cross-border remittances. Remit2India is a service offering from TimesofMoney, which is majority owned by Network International, the leading payment solutions provider in the Middle East.
While India remains the largest recipient of international remittances according to World Bank figures, touching US$ 70 billion in 2013 alone, it is interesting to note that the number one source country for outflows to India is the UAE, said Bhairav Trivedi,
Chief Executive Officer, Network International. More than 20% of the total remittance to India last year, was from the UAE, and Non Resident Indians (NRIs) in this country are always on the lookout for speedy, secure and convenient means to remit money to their loved ones back home. We are delighted to launch this new service offering through Remit2India, which will enable NRIs to transfer money to a bank account in India, anytime and from anywhere.
Avijit Nanda, CEO, TimesofMoney, said: Remit2India always makes a positive impact on its customers. We have added new ways of sending money to India from the region,where an NRI can use his local credit card or a bank transfer to send money home.
With our service, customers get simple, cost-effective and transparent methods of sending money home. With a strong NRI population of around 1.8 million in the UAE, remitting around US$14billion last year, we are confident of offering a superior product to meet this growing need of Indians in the UAE.
The new service enables NRIs to use a locally issued credit card or a bank-to-bank transfer to send money seamlessly through Remit2India, and have it deposited into any bank account in India. The service also comes with 24/7 customer support and real-time transaction alerts to ensure peace of mind for the customer.
Since Remit2India services are 100% online, it saves the customer precious time by eliminating the hassles of visiting an agents office and standing in long queues. With no paperwork involved, the online remittance service can be accessed 24/7, any time of the day or night.
NRIs interested in using this service need to register and also include the recipient bank account details in India. A remittance transfer can be made through entering the UAE card details or bank details and the amount to be transferred.
Payment processing is powered by Network International, ensuring the security of the transaction and confidentiality of the customers details.
With its state-of-the-art technology and unmatched reach, Remit2India currently offers NRIs across 23 countries a safe, secure and speedy way to send money. With a wide delivery network in India spanning 90 banks across 62,500 branches, it is now offering the same superior service to NRIs in the UAE.