Cashfree Payments & Jamboree to streamline cross-border fee payments for Indian Students

By Gloria Mathias

Cashfree Payments has partnered with Jamboree, an educational consultancy, to simplify fee payments for Indian students studying overseas.

The partnership leverages Cashfree Payments’ cross-border payment solution, which streamlines and digitises the entire payment process. It eliminates the need for physical bank visits, offline KYC submission and verification, providing students with a convenient, fast, cost-effective, and transparent payment experience.

With this partnership, students can initiate transactions 24/7, on weekends and holidays. It enables students to make remittances under the Liberalised Remittance Scheme (LRS) established by the Reserve Bank of India (RBI), catering to a wide range of payment needs permitted by regulations, including admission fees, education rental payments, student maintenance expenses, Guaranteed Investment Certificate (GIC) payments for students heading to Canada, as well as blocked account payments for students bound for Germany.

Further, it also substantially reduces the forex markup, rendering the transactions cheaper for Indian students. Students can also track the status of the remittance, from KYC verification status, payment confirmation, and remittance initiation to the stage of downloading a SWIFT copy.

With Cashfree Payments solution, Jamboree can start to extend the remittance service to students without any integration, and Jamboree can also cater to students who are not able to visit offline branches of Jamboree. The partnership has empowered Jamboree by making the entire payment process simpler, faster, and cheaper.

Reeju Datta, Co-Founder, Cashfree Payments said, “We are excited to partner with Jamboree to simplify international fee payments for Indian students. Our cross-border payments solution aims to provide students with a seamless and convenient payment experience, eliminating the need for physical bank visits. By removing unnecessary hurdles and saving valuable time, this collaboration allows students to focus on their educational goals.”

Vineet Gupta, Managing Director, Jamboree said, “We are excited to join hands with Cashfree Payments to redefine how students pay their tuition fees to colleges abroad. This collaboration signifies a significant stride in our journey towards providing unparalleled services that cater to the evolving needs of our students who embark on international educational pursuits.”