MUMBAI, India, Nov. 2, 2023 /PRNewswire/ — Instarem, a leader in cross-border payment solutions, introduces the return of its digital remittance services in India. This strategic re-entry into the Indian market aims to deliver an unparalleled remittance experience, with a primary focus on catering to the unique requirements of students and individuals seeking convenient and affordable overseas education payments.
Instarem has been serving customers in India since 2018. However, due to a directive of the Reserve Bank of India to SBM Bank, it paused its operations temporarily in early 2023, along with many other remittance providers in the region.
The Instarem brand, returning to India, is powered by Nium-Forex, an established, regulated provider of financial products and services in India.
Driven by a mission and commitment to make Money Simple for its users, the new solution offered by Instarem (powered by Nium-Forex) focuses on removing the pain points faced by individuals and students in particular, who are trying to find a hassle-free and cost-effective way to finance their education overseas.
A major hurdle that many individuals face with remittances for education, is funding a German blocked account or Canadian GIC account (a necessity if you wish to study in these countries), which is a service provided by only a handful of banks. Instarem (powered by Nium-Forex) is the first remittance provider that streamlines this process by enabling users to directly deposit funds into these accounts, removing unnecessary obstacles.
Furthermore, banks frequently impose transaction limits that can restrict users. The new solution liberates its users from these limitations, enabling them to make large payments of up to 1,90,00,000 Rupees annually, without the necessity of splitting the payment into numerous transactions. This not only simplifies the process, but also makes it more economical for their customers.
In its relaunch, Instarem (powered by Nium-Forex) revolutionises convenience by providing an entirely digital experience. Users can securely and conveniently send funds from the comfort of their own space, eliminating the need to make time-consuming trips to physical locations. This means no more frustrating hours spent in traffic or queuing up at banks or remittance centers, making the entire experience smoother, more efficient, and hassle-free.
With its upgraded service, Instarem (powered by Nium-Forex) continues to maintain its commitment to providing competitive exchange rates, guaranteeing that users benefit from superior value when compared to traditional banks. The outcome is a smooth and economical remittance solution that places the convenience and peace of mind of its users as the top priority.
Discussing the relaunch, Yogesh Sangle, Global Head of Instarem, said, “We’re thrilled to bring back our remittance services in India, powered by Nium-Forex. We understand that sending money abroad from India can be tough, and it’s our unwavering commitment, in line with our mission to make Money Simple, to ensure it becomes easy for our customers. Our relaunch reaffirms our strong dedication to serving the needs of our Indian users, giving them a straightforward, cost-effective and exceptionally efficient way to send money internationally and invest in their education.”
To celebrate its relaunch, Instarem is extending a special offer of 500 Rupees off, to customers making their first transaction and is also holding a contest on their social media channels, giving away Cricket World Cup tickets to matches that will be held in India in October and November.
Instarem is a global digital cross-border payments platform that enables individuals and businesses to send, spend, and receive money internationally. With a mission to simplify the complexities of cross-border transactions, Instarem provides innovative solutions that empower SMEs and individuals to transcend traditional financial boundaries. Instarem is a brand operated by Nium Pte. Ltd. and its subsidiaries globally.
About Nium Forex
Nium Forex is a regulated provider of financial products and services, as an AD-II licensee (Authorised Dealer in Foreign Exchange – Category II). It is a subsidiary of Nium Pte. Ltd., and part of the Nium Group – a leading global payments company and the first B2B payments unicorn in South-East Asia. With Nium Forex you can buy and sell foreign currency, get prepaid forex cards, and transfer money to 60+ countries easily and securely.
For more information about Instarem, please visit www.instarem.com.