TimesofMoney, an India-based payment solution provider and Citibank, have entered into a strategic tie up to launch a new remittance corridor. Following this, the Citibank will use TimesofMoney’s transaction processing capability to offer end-to-end online money transfer for its non-resident Indian customers in Singapore.
Reportedly, customers can directly transfer money from their bank account to the receivers account in India. TimesofMoney has added that this alliance strengthens the relationship between the two corporates as it marks the second global remittance corridor set up after the same was launched for US.
Avijit Nanda, president of TimesofMoney, said: “We endeavor to constantly support banking industry through our technology solutions and expertise to enable them to provide remittance services to their international and domestic customers.”
