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WorldRemit ties up with YES Bank for instant money transfer to India

Money transfer service WorldRemit has partnered with YES Bank to enable instant money transfer service to India. The partnership will allow WorldRemit customers in 50 countries around the globe to make instant cross-border money transfer to India using mobile phones. Upon receiving the funds from WorldRemit customers living abroad, YES Bank will disburse funds using its networked banking platform. The company claims that its platform is built on top of a network of partnerships across the globe to enable remittances and instant payments into India. It allows banks to undertake multi-channel merchant payments, instant refund for Indian online marketplace, instant loan disbursement for customers with or without bank accounts, and automation of foreign inward remittance. Globally, WorldRemit claims that its customers send 700,000 transfers every month to over 140 destinations. YES Bank is targeting the Indian migrant community in different parts of the world. In June,…

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