4 FinTechs facilitating remittances in India

By Gloria Mathias

The digital payments landscape in India has undergone significant change in recent years, driven by technological advancements, government initiatives, and changing consumer behaviour. As one of the fastest-growing economies globally, India has witnessed the rapid adoption of digital payment solutions across various sectors.

Remittances are trending businesses in India, primarily due to the country’s growing participation in the global economy. With the increasing globalization of trade and commerce, Indian businesses are expanding their operations internationally, necessitating efficient payment solutions to facilitate transactions across borders.

Additionally, the rise of eCommerce has further fueled the demand for cross-border payments, enabling Indian businesses to engage with overseas suppliers and cater to customers in international markets. Access to global markets has become crucial for Indian businesses seeking growth opportunities beyond domestic borders. Cross-border payment solutions offer the flexibility to transact in multiple currencies and jurisdictions, supporting businesses in their efforts to access new markets, expand their customer base, and drive international growth.

Listed below are 4 FinTechs offering cross-border payments to businesses in India:

• FastPagos

FastPagos provides online payment solutions and services for businesses and individuals. They offer a range of financial services, including online payment processing, digital wallets, and other electronic payment methods, to facilitate fast and secure transactions.

• Fairexpay

Fairexpay specializes in currency exchange and international money transfer services. They provide competitive exchange rates and low fees for cross-border transactions, catering to both individual consumers and businesses that need to move money internationally.

• Skydo

Skydo is a FinTech company that offers solutions for expense management and corporate card issuance. They provide tools to help businesses manage employee expenses, issue virtual and physical corporate cards, and gain insights into spending patterns to improve financial control and efficiency.

• EximPe

EximPe focuses on providing financial services for exporters and importers. They offer solutions such as trade financing, international payment processing, and risk management services to facilitate global trade and help businesses manage their cross-border transactions efficiently.