Noida, 21st February 2023: EbixCash Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it 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 that initiative, EbixCash has become the first financial services entity in the country to enable UPI services for foreign delegates attending the G-20 summit being held in India. EbixCash will be carrying out a pilot launch shortly in Bangalore at the G-20 summit, involving dignitaries from the world’s 20 most powerful nations.
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 Mr. 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 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.