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Leatherback & YES BANK to simplify INR remittances among India & Africa

By Gloria Mathias

March 26, 2024

  • Breaking News
  • CBDC
  • Credit Cards
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YES BANK, Breaking News, UPI Payment, NCPI, RuPay, Credit Cards, India Assam, GOI, GOA, CBDC, eGRAS, Digital rupree, CBDC, Leatherback, INR remittances, Payouts, Fintechs, India Fintechs, India News,  Leatherback, a global banking service provider for individuals and businesses, has partnered with YES BANK, to enable easier remittance and Indian Rupee (INR) payouts in India for its users via its tech-driven platform.

Leatherback is the Africa-focused FinTech to offer INR remittance payouts, catering to the growing trend of Africans and Indians exploring business and lifestyle opportunities on both the African and Asian continents.

This alliance will serve as a bridge facilitating economic growth and cultural exchange, empowering communities in both India and Africa through enhanced financial access and connectivity.

With this partnership, businesses, international students, medical migrants, tourists, and other Leatherback users from across the world will be able to leverage its advanced financial technology solutions and YES BANK’s market leadership in retail, MSME, and corporate banking to seamlessly send funds to individuals and businesses in India that can be instantly collected in the local currency.

Remittance in Indian currency (INR) and payouts are available to users via SendR, Leatherback’s remittance solution. Users need to provide a valid Indian Financial System Code (IFSC) – like SWIFT codes for USD and GBP payments to complete the payment. Users from more than 20 countries, including the United Kingdom, Canada, Nigeria, West and Central Africa, and more can access up to 15 currencies, taking advantage of a seamless, digital identity verification process, upfront low fees, real-time competitive FX rates, and a secure, fast, and easy-to-use onboarding process to access more payment possibilities in India.

Ibrahim Toyeeb Ibitade, CEO of Leatherback said, “It is truly special to partner with YES BANK to connect more global players to emerging opportunities in India. India represents an exciting frontier for us on our mission to make it as easy as possible to move money around the world, and we are looking forward to playing our part in enabling the opportunities that abound in this market, with effective payment solutions. Over the years, we have delivered best-in-class financial, payment, and commerce solutions that remove barriers to global growth and mobility, and we are excited to leverage these solutions to unlock more opportunities in the Indian market.”

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