EbixCash Ties up with Banking Circle to Enhance Cross-Border Payments

EbixCash World Money Limited, a leading provider of foreign exchange and outward remittance services and a part of Ebix Group has collaborated with Banking Circle to meet India’s growing demand for seamless cross-border transactions. Leveraging Banking Circle’s robust local clearing infrastructure, EbixCash can now facilitate direct settlements through local rails across global corridors including the UK and EU. This collaboration enables EbixCash, as a leading AD-II licensed provider, to offer faster, more cost-effective, and fully compliant international money transfers, addressing the rising demand for seamless and efficient global transactions in India.

This collaboration addresses critical challenges faced in international remittance, eliminating delayed settlements, minimizing unpredictable intermediary charges, and simplifying complex regulatory hurdles. It also lays the foundation for scalable cross-border payout capabilities, which will be extended to SMEs and corporate flows pending regulatory approval. This move will drive efficient and fully compliant international payments for Indian students and travellers, offering real-time tracking, lower charges and accelerated settlement. 

“By combining EbixCash World Money’s AD-II expertise with Banking Circle’s direct and local clearing, we are giving Indian students, travellers and businesses the speed, transparency and control they expect from a modern cross-border payments platform,” said T. C. Guruprasad, MD & CEO - Payment Solutions, EbixCash. “Opening our own multi-currency nostro is a structural shift - from agent-based transfers to infrastructure-grade payments - reducing costs and uncertainty while elevating customer experience.”

With Banking Circle's virtual IBANs and structured references, this will also eliminate hidden costs, improves traceability and simplifies reconciliation - critical for universities, intermediaries, and customers navigating complex documentation.

“We are creating a future-ready platform that will address current market gaps and redefine how India connects with the global economy. Our correspondent banking network coupled with EbixCash’s AD-II and remittance expertise will enable cross-border payments that are faster, more transparent, and fully compliant," said Mishal Ruparel, Chief Commercial Officer at Banking Circle.

This development reinforces EbixCash’s commitment to building a comprehensive financial infrastructure tailored to local market needs, solidifying its leadership in India’s foreign exchange and cross-border remittance industry.