InstaRem & Airpay Join Hands to Launch FX Payments, a Global Payments Solution
Airpay Payment Services, an omni-channel payments platform based out in Mumbai has joined hands with InstaReM, one of the leading digital cross-border payment companies to launch ‘FX Payment’, a global payments solution for its customers. The partnership will also offer the much-needed support to India’s global trade ambitions along with the seamless and cost-effective overseas payment services.
Prajit Nanu, Co-founder & CEO, InstaReM, comments, “InstaReM’s innovative payments solutions enable individual and enterprise users to send, spend and receive money efficiently, to and from different parts of the world, while saving on high transaction costs that are traditionally associated with cross-border money movements. We are now extending our capabilities to payment gateways, thereby offering a fast, secure and cost-effective payment option to customers buying on e-commerce sites. With this partnership, consumers all over the world will be able to make payments in real-time to some of the highly-reputed merchant brands in India”.
Acting as an alternative to credit cards used for international payments, Airpay’s ‘FX payment’ is available to customers in 27 countries across the globe. FX Payment benefits Airpay’s customers in sectors such as hospitality, retail and education. Additionally, customers will also save on high credit card processing fees, sneaky margins on FX rates and service fees with the option to make payments via InstaReM on the Airpay payment platform.
“International payments via credit cards are opaque and expensive due to high credit card processing charges and hidden fees that are not typically known or explained to the consumers. By leveraging InstaReM’s global presence and capabilities in cross-border payments, we are offering a seamless and transparent payment option which is going to be immensely beneficial to the merchants using our platform as well as their customers”, states, Kunal Jhunjhunwala, MD, Airpay.
With the FX Payment, merchants can remove the compliance overhead along with reducing the cost and time of the transaction. Also, customers can enjot the benefit of paying in their local currency, competitive exchange rates, and avoid bank or credit card charges associated with international payments.
Established in 2012, Airpay provides online payment gateway solutions for e-commerce and retail markets in India. Its features include best-in-class RMS system integration, single window transaction settlements, dynamic payment gateway switching, transaction reconciliation, customer support, and more.