Federal Bank ties up with Remitware Payments to Offer Money Transfer Facility


Kochi: Federal Bank has entered into a tie-up with Remitware Payments Canada Inc., a money transfer company, to use its online remittance app Remitr to facilitate money transfer from Canada to India and its latest Lyra platform for facilitating various types of business payments.

Lyra enables businesses to pay their suppliers, contractors and employees in India while Remitr mobile app offers individual customers a quick and cost-effective online remittance solution for transferring money. Remitware Payments’ global platform eliminates the traditional wire transfer process commonly used by banks across the world.

The company offers a number of benefits like 24×7 money transfer and remittance facility, convenient and easy sign up, transparent and fair exchange rates, and it is fully compliant with local Canadian regulations

Speaking on the occasion, Jose Skaria, Assistant General Manager & Head-International Banking Department, said ‘’We are pleased to announce our online rupee remittance tie-up with Remitware Payments Canada Inc. NRIs and small business in Canada will now enjoy a modern, low cost, fast, easy and more reliable way of transferring money to India.”

Speaking on the occasion, Sandeep Jhingran – Chief Operating Officer of Remitr said, “We are a technology company re-inventing the way money moves between countries. Our association with Federal Bank is the first step towards building an efficient, secure and technologically advanced cross-border payments mechanism between Canada and India. Canada is the second market, after United Arab Emirates, where we have launched the Remitr money transfer app.”