Merchantrade Asia, NPCI offer real-time remittances to India


Merchantrade founder MD Ramasamy K. Veeran: "Working with NPCI International will enable our customers and partners to more easily transfer funds to India using UPI apps such as BHIM, Google pay, Amazon pay, etc.”

KUALA LUMPUR: Merchantrade Asia Sdn Bhd, a money services, digital payments and mobile communications company, has partnered with NPCI International Payments Ltd (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), to offer real-time remittances to India.

It said the partnership would enable Merchantrade Asia and its network to connect to NIPL and facilitate remittance to beneficiary banks in India via Unified Payments Interface (UPI) identifications.

"Working with NPCI International will enable our customers and partners to more easily transfer funds to India using UPI apps such as BHIM, Google pay, Amazon pay, etc,” founder and managing director Ramasamy K. Veeran said in a statement on Wednesday.

He said as Malaysia’s leading fintech company and international money transfer operator and payments provider, Merchantrade constantly striving to enhance its services by leveraging on the technologies offered through such partnerships to better serve its ever-growing customer base.

NIPL chief executive officer Ritesh Shukla said the partnership with Merchantrade would enable its customers to enjoy greater efficiency, speed, convenience and transparency through the UPI platform’s real-time capabilities, round-the-clock accessibility and simple interface.

"We look forward to attaining greater heights with this partnership,” he said.

He added that India is a top market for inward remittance globally, receiving around US$83 billion (US$1=RM4.22) per annum. - Bernama

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