UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand in the Emirates, has partnered up with YES BANK, India’s fourth largest private sector bank, to integrate UAE Exchange FLASHremit, an instant account credit facility, with IMPS (Immediate Payment Service) for real time bank transfers to any bank in India.
IMPS is a network of banks in India, launched by National Payments Corporation of India (NPCI).
With UAE Exchange FLASHremit’s integration into IMPS through YES Bank, customers of UAE Exchange can enjoy real-time credit into any bank in India 24-7-365 days. Remitters would also receive confirmation of credit status by SMS.
Speaking on the partnership, Arun Agrawal, group president, International Banking, YES BANK said, “YES BANK is proud to partner with UAE Exchange in introducing this innovative technology to transfer money from GCC Countries to India at a lightning speed. This service will provide great convenience to our customers in GCC which is an important focus region for YES BANK, and provide an instant credit confirmation to them for deposits into their recipients’ accounts.”
Promoth Manghat, Dy CEO, UAE Exchange, said, “UAE Exchange has always explored the possibilities of bringing the best to its customers faster. Toward this aim, we have a special tie up with YES Bank to integrate FLASHremit our instant bank account credit service with IMPS. We have a strong and long relationship with YES BANK and I am sure that this innovative product will further strengthen this relationship, bringing more value to our customers. This service enables our customers not only to get the money transferred to the desired bank account within minutes, but also get a SMS notification when the amount reaches the bank account”.