While India’s entry into the crypto-landscape seems sluggish at best, Mumbai-based Airpay Payment Services has set out to create a merchant-centered international payments solution in collaboration with InstaReM. As per the official announcement,
“Mumbai-based Airpay Payment Services, India’s only omni-channel payments platform, has announced a partnership with InstaReM, one of the world’s fastest-growing digital cross-border payments companies, to launch “FX Payment”, an international payments solution for its merchants.”
As the report suggests, Airpay’s FX Payment platform is specifically aimed at serving as an alternative to credit card-based payments for international payments, which is currently available to customers in 27 countries across the globe. Moreover, “this highly efficient and cost-effective payment solution benefits Airpays’ marquee Indian merchants in the hospitality, retail, and education sectors, and their overseas customers.”
Additionally, another incentive for Airpay customers are lower transaction fees and service fees. Moreover, FX Payment merchants can also benefit from compliance overhead. Commenting on the same, InstaReM Co-founder and CEO said,
“We are now extending our capabilities to payment gateways, thereby offering a fast, secure and cost-effective payment option to customers buying on e-commerce sites. With this partnership, consumers all over the world will be able to make payments in real-time to some of the highly-reputed merchant brands in India.”
By making overseas payments to India seamless and cost-effective, the Airpay-InstaReM partnership is looking to offer much-needed support to India’s global trade ambitions.