back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Cashfree Payments and EasyTransfer to enhance international fee payments for Indian students

By Leandra Monteiro

June 06, 2022

  • Cashfree Payments
  • Cross Border Payments
  • EasyTransfer
Share

Cashfree PaymentsCashfree Payments has partnered with Singapore-based cross-border education payment services platform EasyTransfer to offer a faster, and cheaper platform for Indian students to make fee payments to universities and educational institutions abroad.

With this partnership, Indian students will now be able to make educational payments directly through their existing bank accounts, eliminating the need to set up a new account specifically for making such payments.

Cashfree Payments’ Payment Gateway offering will enable payments using modes like internet banking and UPI and leverage its network of banking partners for remittance abroad. Cashfree Payments also ensures collection of relevant KYC of the payer and supporting documents for reporting under the Liberalised Remittance Scheme, in a streamlined digital flow. The fund settlement will occur through Authorized Dealer Banks, and directly go out to universities outside of the Indian Territory, ensuring a secure and smooth transaction. This solution enables all sorts of education-related payments, including application and tuition fees, to international universities.

The EasyTransfer payments platform for Indian students will be launched by early June. EasyTransfer has built a team of payment professionals who speak in multiple languages – such as English, Hindi, and Urdu – and are well versed in India’s highly regulated payments environment, including the extensive documents required for sending funds abroad.

Reeju Datta, Co-founder, Cashfree Payments said, “Partnering with EasyTransfer enables us to easily extend our payment solutions directly to Indian students, facilitating easier, faster, more convenient, and more efficient international education payments. We will continue our efforts to build such effective solutions for our partners, which help to create superior customer experiences.”

Tony Gao, Co-founder and President of EasyTransfer shared, “Traditionally, students are required to visit educational and banking institutions in person to submit their relevant documents and send money overseas. EasyTransfer and Cashfree Payments have streamlined India’s Liberalised Remittance Scheme (LRS) declaration process, allowing payments to be completed fully online. Our online know-your-customer (KYC) system for payers also helps to quickly and easily validate resident credentials, a crucial and often cumbersome requirement in India.”

Previous Article

June 06, 2022

APS Islamic Microfinance goes live with Azentio’s iMAL™

Read More
Next Article

June 06, 2022

Nuula adds wealth management to its list of financial products

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 12, 2022

Cashfree Payments

The Weekly Wrap: all you need to know by Friday COB | August 12th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 12, 2022

Verdant Capital raises USD 10m of debt funding for Zeepay

Read More

August 12, 2022

Synctera announced the appointment of Yvette Butler to its Board of Directors

Read More

August 12, 2022

PayGround launches Payment Financing Solution on its platform

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022