New Delhi: Paytm Payments Bank customers will now be able to get money directly into digital wallets from their friends and acquaintances living abroad. Paytm Payments Bank has partnered with Ria Money Transfer for this purpose. It will benefit 33.3 crore customers. With this partnership, Paytm became India's first platform to accept money directly from abroad into digital wallets.
It may be mentioned that Paytm has 33.3 crore consumers in the country and will now help them get money from their relatives abroad. Tell you that Ria Money Transfer is a cross-border money transfer firm and a business segment of Euronet Worldwide. It facilitates the transfer of funds from one country to another. Ria Money has 490,000 retail outlets worldwide. Ria's customers can also transfer cash through the app or website.
Euronet said that each money transfer will be done in real-time, i.e., as soon as one fund is transferred, the money will come into the other account. Fund transfer has a variety of security features. It will also have verification of accounts and matching of names. Account validation matches the bank account number and other details before the transaction. Ria's network supports more than 3.6 billion bank accounts and 410 million mobile and virtual accounts. The mobile wallet industry makes a $2 billion transaction every day. Experts believe transactions will reach $1 trillion annually by 2023.
Good News for those planning to buy Gold, know latest prices
Several rules relating to banking and financial sectors will be changed from Oct 1
