UK Fintech Wise introduces remittance payments services in India, as company expands operations with Mumbai office
UK-based Fintech firm Wise (formerly doing business as TransferWise) has introduced remittance services in India, as the company looks to expand its operations globally with a new office in Mumbai.
This move by London-headquartered Wise has come after the company began supporting Google Pay users in the US so they can send INR payments to Google Pay users based in India.
Wise’s management noted that their cross-border payments services cost significantly less when compared to traditional banks and various other providers such as PayPal. Wise reveals that it’s transactions are 38% faster, on average, as all transfers globally are done almost instantly (within 20 seconds).
Wise recently rebranded from TransferWise in order to reflect its expansion into an international cross-border payments business that has 10 million customers globally.
Kristo Käärmann, CEO and Co-Founder of Wise, stated: “Bringing Wise to India is a big step forward in our mission to build money without borders 一 instant, convenient, transparent and, eventually free. The data shows that Indians are more international than ever, with an increasing need to send money abroad as quickly, easily and cost-effectively as possible. With this launch we hope to make these transactions simpler and more pleasant for all Indians.”
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