EbixCash has announced a strategic partnership with iPiD to enhance the security and accuracy of cross-border remittances for Indian students studying abroad. This collaboration will allow students and their families to verify the names and bank account details of educational institutions and individual recipients in key destinations such as the UK, USA, France, Belgium, and other countries across Europe, North America, Africa, and South America before making international payments from India.
This innovative service aims to minimize errors and prevent fraud, offering peace of mind to students and parents when transferring funds internationally. iPiD, a market leader in global account verification, currently serves over 6,000 banks across 15 countries, providing a robust solution for secure cross-border transactions.
T C Guruprasad, Managing Director of EbixCash World Money, commented, “We are pleased to announce the partnership with iPiD to facilitate pre-verification of cross-border payment for bank accounts globally for Indian students. This service would enable students to make their cross-border payments error and hassle-free through our wide distribution network.”
Alain Raes, Co-Founder and Chief Commercial Officer at iPiD, added, “In today’s rapidly globalizing world, the ability to ensure that payee details are accurate and secure is critical for smooth, fraud-free transactions. As a global leader in account verification, iPiD is proud to partner with EbixCash to provide Indian students with a reliable, hassle-free way to manage their international payments.”
This service, powered by iPiD, is among the first in India to offer real-time global verification of beneficiary bank account details.
About EbixCash
EbixCash World Money, the foreign exchange division of EbixCash Limited holds a leadership position in foreign exchange business in India, with a vast network encompassing 81+ retail branches, 237 franchisee partners and duty-free shops, 43 bank clients, 5000+ corporate clients including top fortune 500 clients and 5-star hotels in India. EbixCash World Money is also a leading player in India’s airport and seaport Money Exchange business with retail kiosks in 22 international airports, and 12 seaports.
About iPiD
iPiD is a fast-growing, venture-backed fintech start-up that was founded in late 2021 by a global team who have held senior roles at major payments and technology companies, including SWIFT and Thomson Reuters. In addition to our HQ in Singapore, our global team has representatives in India, Belgium, Malaysia, Netherlands, UAE, Spain, and Vietnam. iPiD’s vision is to make cross-border payments easy, secure, and seamless. We achieve this by partnering with financial services providers (banks, payment systems, payment fintechs, wallets…) to deliver an addressing data platform that helps the payment industry to provide