india remittances

Jan

The Indian remittances market is booming

One of the most promising segments of digital financial services in India is remittances. Unlike traditional banking, it is not completely dominated by incumbents, and the massive Indian diaspora population ensures that demand will be robust for years to come. 2023 was another big year for Indian remittances – though…

Oct

India Payments Research

The rise of UPI in India and its cross-border potential

This commentary was written in collaboration with Banking Circle. India’s United Payments Interface (UPI) real-time payments system has transformed how Indians make payments, allowing them to easily transfer money instantly from one bank account to another: from a customer to a business, or between individuals. Since its 2016 launch, UPI has…

Jun

India Payments Research

India’s remittances market defies pandemic

India’s remittances market was supposed to contract 9% in 2020 per a World Bank forecast. It was a reasonable prediction given the turmoil wrought by the coronavirus pandemic on public health and the global economy. Yet the market was much more resilient than expected. Data from the World Bank show…

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