PHOTO
•Remit money to any mobile number
•Builds on DirectRemit60 second money transfer
•Service launched for India through Axis Bank, other corridors to open soon
Dubai - Emirates NBD, a leading bank in the region, announced the launch of an innovative new remittance service, DirectRemit2 Mobile that enables account holders to transfer funds to any mobile phone number.
This pioneering service builds on the bank's popular DirectRemit platform that allows money transfers in 60 seconds to beneficiary accounts. DirectRemit2 Mobile is now available for transfers to the largest remittance market, India 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.
The launch of DirectRemit2 Mobile is the latest in a series of technologybased 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 & Group Head - Retail Banking and Wealth Management, Emirates NBD commented: "Emirates NBD has been a leader in the UAE's fast growing digital banking space and continues to define convenient new ways for customersto bank.DirectRemit'svalue proposition is centered on customer convenience, instant transfers and best exchange rates.DirectRemit 2 Mobile takes this a step further,by enabling customers to make on-the-gomoney transfers to friends and family, simply by using mobile numbers."
"Mobiles have become an inseparable aspect of our lives, and we foresee DirectRemit2 Mobile revolutionising peer-to-peer international money transfersin the UAE as we expand the service to new markets in the near future," added Sarkar.
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.
SidharthRath, President & Head - Treasury & Transaction Banking at Axis Bank stated, "Axis Bank is focused on delivering innovative and value-added services in the cross border remittances space, and our collaboration with Emirates NBD and Empays is an addition to the vast array of channels available for our customers to receive such remittances. We partner with various banks to provide seamless remittance facilities to beneficiaries in India and are pleased to support Emirates NBD, one of our key partners in the UAE, in bringing this solution to its customers."
Ravi Rajagopalan, founder and CEO of Empays added, "We are delighted to partner with Emirates NBD to provide this first-of-its-kind service from the UAE to its customers. The Empays Payment Cloud (EPC) connects banks across the globe to enable digital payments to be made from mobile to mobile instantly and securely and at the customer's convenience. We help Emirates NBD offer a unique differentiating service to their client base to cater to their remittance needs to India and elsewhere.
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. The platformhas been received very favourably by customers with number of remittances increasing over five times since launch. The funds transfer service is a key component of Emirates NBD's value proposition to its expatriate customers, who annually remit funds over USD 30B, making the UAE one of the largest remittance originating countries in the world.
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About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 30th June 2015, total assetswere AED 388.1 Billion, (equivalent to approx. USD 105 Billion).The Group has a leading retail banking franchise in the UAE, with more than 220 branches and over 900 ATMs and CDMs in the UAE and overseas. It is a major player in the UAE corporate and retail banking arena and has strong Islamic banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore, the United Kingdom and representative offices in India, China and Indonesia.
The Group is an active participant and supporter of the UAE's main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.
About Empays Payment Systems
Empays enables banks worldwide to offer innovative mobile financial services to their clients. The flagship Empays Payment Could (EPC) implements a membership scheme for banks that enables banks worldwide to connect to each other through the EPC to provide P2P, B2P, B2B and NFC payments. These payments are cheap, instant and safe. In India, the innovative IMT Payment System built and operated by Empays using the EPC has a unique certification by the Reserve Bank of India as a Settlement system and connects ten leading banks in India to offer cardless cash withdrawals at participating ATMs for payments received on a mobile.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Tricia Rego
ASDA'A Burson-Marsteller; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: tricia.rego@bm.com
For further information on Empays Payment Systems, please contact:
Harveer Singh (Head Product Marketing)/Ravi Rajagopalan (CEO)
Empays Payment Systems India Pvt Ltd
e-mail: harveer@empays.com/ravirajagopalan@empays.com
Telephone: +919930077411/+919987457802
© Press Release 2015
