Bhairav Trivedi, Chief Executive Officer at Network International, mentions that according to figures issued by World Bank, India is the largest destination for international remittances, reaching a notable USD 70 billion in 2013. Trivedi also points out that around 20% of foreign-located remittances bound for India came from the UAE and that Non Resident Indians (NRIs) in the Arab country demand for remittance money services.
Avijit Nanda, CEO, TimesofMoney, informs that the number of NRI citizens in UAE has reached 1.8 million. This population remitted around USD 14 billion in 2013.
Remit2India services are available online 24/7 in order to allow money transfers to any Indian bank account and to require no paperwork on behalf of the customers.
NRIs interested in using this service need to register on www.remit2india.comand, a platform which also includes the recipient bank account details in India. A remittance transfer can be made through entering the UAE card details or bank details and the amount to be transferred. Payment processing is powered by Network International, which ensures the security of the transaction and confidentiality of the customers details.
Presently, Remit2India is offered to NRIs across 23 countries and it also provides a delivery network in India spanning 90 banks across 62,500 branches.
Remit2India provides various offerings including retail online remittances (Remit2India & Remit2Home), specialized NRI Services (Window2India), managed white-label remittance platforms and online payment gateway solutions (DirecPay). The services offered center around the diaspora of ethnic communities across the globe - facilitating money transfers to their home country.
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