Those are still depending on conventional means of funds transfer from foreign countries to India. Good news for you all.
Paytm is now India’s first digital platform to accept remittances ( money transferred from foreign countries). With the significant deal signed with Ria money a business segment of Euronet worldwide, Paytm is ready to receive non-commercial funds from overseas directly in the digital wallet with ensuring all security and ease of payment to registered members.
After this collaboration, Ria Money is now the first company to provide direct cash tranfers in the digital wallets of the subjects.
“We are now offering direct transfer of international remittances into the Paytm wallet, a first in India,” Satish Kumar Gupta, managing director of Paytm Payments Bank said.
On this account, Euronet said to the media: Ria Money has 490,000 retail outlets worldwide, Ria’s customers can transfer cash through apps or websites, Every money transfer will be made in real time and will have security features such as account validation and name matching.