Emirates NBD, a UAE-based banking group, has rolled out a new remittance service, called DirectRemit2 Mobile, that allows account holders to transfer funds to any mobile phone number in India.
The bank has collaborated with Indian lender Axis Bank to launch the service, with plans to launch in other corridors soon.
The new service builds on the bank’s DirectRemit platform that enables money transfers in 60 seconds to beneficiary accounts.
With this service, customers can now transfer funds simply by logging on to their Emirates NBD Mobile Banking and by providing the mobile number of the intended beneficiary.
The service has been launched by the bank in collaboration with Empays Payment Systems India, a provider of payment solutions that allow banks to launch mobile based financial services and Axis Bank, the remittance partner for this service in India.
Emirates NBD senior executive vice president & group head retail banking and wealth management said: "DirectRemit’svalue proposition is centered on customer convenience, instant transfers and best exchange rates. DirectRemit 2 Mobile takes this a step further, by enabling customers to make on-the-gomoney transfers to friends and family, simply by using mobile numbers."
Axis Bank president & head treasury & transaction banking SidharthRath said: "We partner with various banks to provide seamless remittance facilities to beneficiaries in India and are pleased to support Emirates NBD, one of our key partners in the UAE, in bringing this solution to its customers."
Empays founder and CEO Ravi Rajagopalan said: "The Empays Payment Cloud (EPC) connects banks across the globe to enable digital payments to be made from mobile to mobile instantly and securely and at the customer’s convenience."