June 10, 2022

Cashfree Partners with Easy Transfer to Facilitate Easier International Payments for Indian Students

I Indian students can now easily facilitate international payments. This is all thanks to a new partnership between Easy Transfer and Indian payment network Cashfree to create a finance platform. The idea of teaming up came about as a means to solve the problem of payment for Indian students studying abroad.

According to a source from Cashfree, Indian students’ banks are too highly regulated for easy international payments. Students are also forced to open foreign accounts in the country they’re studying in, making things complicated. To make it easier for them, the new platform was launched to streamline payments and other financial deals.

…Easy Transfer and Cashfree Payments have streamlined India’s Liberalised Remittance Scheme declaration process, allowing payments to be completed fully online…

Speaking on the merger, Tony Gao of Easy Transfer said, “Easy Transfer and Cashfree payments have streamlined India’s Liberalised Remittance Scheme declaration process, allowing payments to be completed fully online.”

The LRS (Liberalised Remittance Scheme) allows Indian students abroad to transact up to US$250,000 for any permissible account transactions in a financial year. The benefit of the platform is that it quickly validates payers’ resident credentials, an important requirement for transactions in India. The platform also offers users access to 1-on-1 guidance in their native language from payment professionals based in each local time zone. Cashfree Payments partners with over 60 major Indian commercial banks and its infrastructure was built with the guidance of India’s leading banks.

Posted in Collaborations and tagged Collaborations, Easy Transfer, Cashfree, LRS, Liberalised Remittance Scheme, International Students
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