Merchantrade, NPCI to offer real-time remittances to India through UPI

New Delhi: Merchantrade Asia has partnered with NPCI International – a wholly-owned subsidiary of National Payments Corporation of India (NPCI) to offer real-time Remittances to India. This partnership will enable Merchantrade and its Network to connect to NIPL and facilitate remittance to Beneficiary Banks in India via UPI IDs.

Today’s inward remittances are processed via payment modes such as NEFT/IMPS/RTGS. This partnership will help International partners to push funds to beneficiaries on-boarded on UPI apps which means anyone from the Merchantrade network is able to do real-time remittances to India. The solution will assist with Beneficiary name matching and facilitate all the requisite compliance checks in a safe, secure, and convenient manner.