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Thu 13 Aug 2015 02:00 PM

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Emirates NBD launches mobile remittance service to India

Dubai's biggest bank reveals DirectRemit2 Mobile service; says more countries will be added soon

Emirates NBD launches mobile remittance service to India

Emirates NBD, Dubai's biggest bank, has announced the launch of an innovative new remittance service, DirectRemit2 Mobile, that enables account holders to transfer funds to any mobile phone number.

The service builds on the bank's popular DirectRemit platform that allows money transfers in 60 seconds to beneficiary accounts.

The bank said in a statement that DirectRemit2 Mobile is now available for transfers to India, the largest remittance market through Axis Bank, with other corridors expected to be launched soon.

Customers transferring funds using DirectRemit2 Mobile can now remit funds simply by logging on to their Emirates NBD Mobile Banking and by providing the mobile number of the intended beneficiary. Subsequent transfers can be carried out through the bank's mobile app at the click of a button with funds credited to any bank account in India.

Emirates NBD said the launch of DirectRemit2 Mobile is the latest in a series of technology-based product innovations designed to offer customers quick, secure and on-the-go banking solutions that match their busy lifestyles.

Suvo Sarkar, senior executive vice president and group head - Retail Banking and Wealth Management, Emirates NBD said: "DirectRemit's value proposition is centred on customer convenience, instant transfers and best exchange rates.DirectRemit 2 Mobile takes this a step further, by enabling customers to make on-the-go money transfers to friends and family, simply by using mobile numbers."

The innovative service is being offered by Emirates NBD in conjunction with Empays Payment Systems India, a provider of payment solutions that enable banks to rapidly launch mobile based financial services and Axis Bank, India's third largest private sector bank,the remittance partner for this service in India.

Since the introduction of the DirectRemit service to India in 2014, Emirates NBD has expanded the service to cover Pakistan and the Philippines, with more corridors being planned in the near future.

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