EbixCash World Money Limited has partnered with Banking Circle to simplify and accelerate India’s cross-border transaction ecosystem. Using Banking Circle’s strong local clearing infrastructure, EbixCash can now facilitate direct settlements through local payment rails in key corridors such as the UK and EU. This alliance enhances EbixCash’s ability as an AD-II licensed provider to deliver faster, more cost-effective, and compliant international money transfers to a growing Indian clientele.
The partnership directly addresses several long-standing challenges in international remittances, including delayed settlements, high intermediary fees, and regulatory complexities. By removing these bottlenecks, EbixCash is laying the groundwork for a scalable, secure, and transparent cross-border payment system. The initiative is also expected to benefit students, travellers, SMEs, and corporates, ensuring lower transaction costs, real-time tracking, and faster settlements for international transfers.
According to T.C. Guruprasad, MD & CEO of Payment Solutions at EbixCash, the partnership marks a shift from traditional agent-based remittance models to infrastructure-grade payments. With the establishment of EbixCash’s multi-currency nostro account, users will gain more control, transparency, and predictability in transactions. The move strengthens customer trust by reducing uncertainty and improving cross-border payment reliability for individuals and enterprises alike.
The collaboration leverages Banking Circle’s virtual IBANs and structured references, streamlining reconciliation and reducing hidden costs — critical for universities, financial intermediaries, and global customers dealing with complex documentation. This system ensures clarity and efficiency in every transaction, enhancing traceability and customer satisfaction across the board.
Mishal Ruparel, Chief Commercial Officer at Banking Circle, emphasised that the partnership creates a future-ready payment platform bridging India’s local expertise with global financial infrastructure. The combination of Banking Circle’s correspondent banking network and EbixCash’s AD-II expertise enables a faster, more transparent, and compliant solution for international payments, aligning with India’s expanding global financial footprint.
This collaboration underscores EbixCash’s commitment to strengthening India’s financial infrastructure, blending compliance, innovation, and accessibility. It reinforces the company’s leadership in the foreign exchange and remittance sector, positioning it as a key enabler of India’s integration with the global economy through seamless, cost-effective, and transparent cross-border financial services.