EbixCash & iPiD team to secure cross-border remittances for Indian students

By Gloria Mathias

EbixCash has announced a partnership with iPiD to enhance the security and accuracy of cross-border remittances for Indian students studying abroad.

This collaboration will allow students and their families to verify the names and bank account details of educational institutions and individual recipients in key destinations such as the UK, USA, France, Belgium, and other countries across Europe, North America, Africa, and South America before making international payments from India.

This service aims to minimize errors and prevent fraud, assuring students and parents when transferring funds internationally. iPiD, a global account verification solution, currently serves over 6,000 banks across 15 countries, providing a robust solution for secure cross-border transactions.

T C Guruprasad, Managing Director of EbixCash World Money, shared, “We are pleased to announce the partnership with iPiD to facilitate pre-verification of cross-border payment for bank accounts globally for Indian students. This service would enable students to make their cross-border payments error- and hassle-free through our wide distribution network.”

Alain Raes, Co-Founder and Chief Commercial Officer at iPiD, added, “In today’s rapidly globalizing world, the ability to ensure that payee details are accurate and secure is critical for smooth, fraud-free transactions. As a global leader in account verification, iPiD is proud to partner with EbixCash to provide Indian students with a reliable, hassle-free way to manage their international payments.”

This service, powered by iPiD, is among the first in India to offer real-time global verification of beneficiary bank account details.

EbixCash World Money, the foreign exchange division of EbixCash, is a leader in the foreign exchange business in India. Its network encompasses 81+ retail branches, 237 franchisee partners and duty-free shops, 43 bank clients, and 5000+ corporate clients, including top Fortune 500 clients and 5-star hotels in India.

EbixCash World Money is also a player in India’s airport and seaport Money Exchange business with retail kiosks in 22 international airports and 12 seaports.