EbixCash, a leading financial services provider, has announced a strategic partnership with iPiD to enhance the security and accuracy of cross-border remittances for Indian students studying abroad. This collaboration aims to provide a seamless and secure way for students and their families to verify the bank account details of educational institutions and individual recipients in key study destinations such as the UK, USA, France, Belgium, and other countries across Europe, North America, Africa, and South America.
The innovative service, powered by iPiD, ensures that recipients’ names and bank account details are pre-verified before international payments are made from India. This step aims to minimize errors and prevent fraud, offering students and their families peace of mind when transferring tuition fees and other funds internationally. iPiD, a global leader in account verification, currently partners with over 6,000 banks across 15 countries, ensuring a secure and reliable solution for cross-border transactions.
T C Guruprasad, Managing Director of EbixCash World Money, expressed his excitement about the partnership, stating, “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 would 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 of iPiD, highlighted the importance of this collaboration, saying, “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 partner with EbixCash to provide Indian students with a reliable and efficient way to manage their international payments.”
This partnership marks one of the first services in India to offer real-time global verification of beneficiary bank account details, further simplifying cross-border remittances for Indian students abroad.
