Payza partners with NRGT for payments innovation in India
Payments platform Payza has partnered with New RAMPgreen Technologies (NRGT) in India to launch the “first” global online wallet that can be used by Indians in their local currency.
Payza says prior to this local payment service Indians were not permitted to hold any rupees in any online ewallet. It says the “only way” they could access their money in rupees was to transfer their funds (in US dollars) to their local Indian bank accounts, incurring fees for foreign exchange and bank transfers.
Firoz Patel, Payza’s executive vice-president, says: “With NRGT we are able to offer Indians a way to get on with their daily lives without wasting added time and money on the extra hoops they have been used to jumping through to access their money in India online.”
NRGT provides the tech and infrastructure. Sunil Soi, CEO of NRGT, adds that the firm is “honoured to be Payza’s ‘boots on the ground’ in India”.
Payza says users can send and receive international payments around the world in 21 currencies. The wallet also offers features such as mass pay for corporate disbursements, split payments for e-commerce, email invoices and instant payment notifications (IPNs).
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Recently, Soumik Roy, Banking Technology’s editorial contributor based in India, examined how the nation’s electronic banking and payments are rapidly picking up pace.