Axis Bank launches online remittance service

Mumbai, Nov 18: Axis Bank, India's leading private sector bank, with a substantial NRI customer base, has tied up with leading non bank e-payment service provider TimesofMoney, to launch AxisRemit, the Bank's own branded online remittance service.

With Axis Remit, the Bank will provide high-speed online money transfer services for NRIs belonging to major geographies such as USA, UK, Euro Zone (Euro Currency Area), Canada, Australia, Singapore, Hong Kong and UAE, using TimesofMoney's white-labeled state-of-the-art remittance platform and know-how, Axis bank said in a release here.

TimesofMoney's white-labeled ''hosted on demand'' solutions will provide the technology platform for AxisRemit. The back-office functions relating to remittances would also be handled by TimesofMoney. This alliance integrates Axis Bank's core strengths in NRI Banking and service delivery with TimesofMoney's domain knowledge and technical expertise in cross border remittances, creating a smooth and satisfying remittance experience to NRIs situated across the globe, the release added.

UNI