iNDICA NEWS BUREAU-
EbixCash Limited, a subsidiary of Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare, and e-learning industries, has become the first company in India to pioneer, launch and enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India. This new capability will allow a Foreign national visiting India to pay for goods and services in India, using UPI in seconds.
As a part of the initiative, EbixCash has become the first financial services entity in the country to enable UPI services for foreign delegates attending the G20 summit in India. EbixCash will be carrying out a pilot launch shortly in Bangalore at the G20 summit, involving dignitaries from the world’s 20 most powerful nations.
With 50+ offices across the US, Brazil, Singapore, Australia, the UK, New Zealand, and India, Ebix powers multiple exchanges across the world in the field of life, annuity, health, and property and casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support, and consultancy to thousands of customers across six continents.
EbixCash World Money, the foreign exchange division of EbixCash Limited holds a leadership position in the foreign exchange business in India, with a vast network encompassing 81+ retail branches, 250 franchisee partners and duty-free shops, 27+ bank clients, 1200+ 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 20 international airports, and 12 seaports.
T C Guruprasad, Managing Director, Payment Solutions Division and EbixCash World Money said. “We are excited to announce the launch of UPI for foreign nationals exchanging currencies across airports in India. This is in line with our commitment to embrace the vision of India’s Prime Minister Narendra Modi to promote digital transactions in India. This would enable passengers to visit our airport counters across India for converting their foreign currency into digital Indian currency, with a UPI interface to pay for goods and services across the country”.
EbixCash has Forex operations in approximately 20 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets. Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support, and consultancy to thousands of customers on six continents.
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems, and risk compliance solutions to custom software development for all entities involved in the insurance industry.
EbixCash works with a “Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia, to an Omni-channel online digital platform, the company’s financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending, and wealth management across 75+ countries including India.
