EbixCash and iPiD Unite to Secure Cross-Border Payments for Indian Students

Mumbai-based EbixCash partners with iPiD to improve accuracy and security of international remittances for Indian students. The service aims at real-time verification of recipient details to prevent fraud, covering various global destinations. It's a pioneering initiative in India's financial technology landscape.

In a move set to bolster the integrity of international remittances, EbixCash has announced a strategic alliance with iPiD. The partnership is aimed at enhancing the security and precision of cross-border payments for Indian students studying abroad.

The collaboration allows families and students to verify the names and bank details of educational institutions and individual recipients in key destinations such as the UK, USA, France, Belgium, and other regions across Europe, North America, Africa, and South America before initiating international payments from India. This service is designed to minimize errors and prevent fraud, providing reassurance for those transferring funds internationally.

iPiD, a global authority in account verification, currently operates with over 6,000 banks across 15 countries, offering a robust solution for secure international transactions. T C Guruprasad, Managing Director of EbixCash World Money, commented on the collaboration: "We are pleased to announce the partnership with iPiD to facilitate pre-verification of cross-border payments for bank accounts globally for Indian students. This service will enable students to make their international payments error-free and hassle-free through our extensive distribution network."

Alain Raes, Co-Founder and Chief Commercial Officer at iPiD, added, "In today's rapidly globalizing world, ensuring the accuracy and security of payee details is crucial for smooth, fraud-free transactions. As a global leader in account verification, iPiD is proud to collaborate with EbixCash to provide Indian students with a reliable and hassle-free way to manage their international payments. The service, powered by iPiD, is among the first in India to offer real-time global verification of beneficiary bank account details."

(With inputs from agencies.)