India is considered to be one of the world’s fastest-growing economy
Western Union reinforced its presence in India. Source: shutterstock.com
Western Union became the first company to offer cross border money transfer via Unified Payments Interface, a real-time payment system developed by the National Payments Corporation of India under Reserve Bank of India guidelines. This way, Western Union allows its customers globally to send money into bank accounts in India by using the receivers UPI ID, instead of providing bank account and routing details.
The Indian launch of WU.com, in collaboration with YES BANK, one of the leading banks in the country, enables customers to send money globally, anytime it is needed. With WU.com customers fund their transactions online through transfers from their national bank accounts and then have the ability to send money into bank accounts in many countries across major regions of the world.
SEE ALSO: New solution to simplify tuition payments announced
