Payoneer digitises FIRC; move to boost SMB exports

Exporters can get their FIRC document directly through mail, at no additional cost

Payoneer, a global cross-border B2B digital payments provider, has come up with a digital Foreign Inward Remittance Certificate (FIRC) solution for e-commerce and service sector exporters.

This digital FIRC enables customers to get FIRCs for every transaction on real time basis automatically.

In India, sellers and services exporters are required to furnish a FIRC. Customers need to provide paper applications to their banks for every transaction to seek a FIRC. Moreover, banks charge customers significant document fees to process FIRC requests.