Banking Circle empowers EbixCash to simplify cross-border payments for Indian students and travellers

To meet India’s growing demand for seamless cross-border transactions, Banking Circle will enable EbixCash World Money (“EbixCash”), a leading AD-II licensed foreign exchange and remittance provider in India, to offer faster and more transparent international money transfers.

This collaboration will drive efficient and fully compliant international payments for Indian students and travellers, providing real-time tracking, lower charges, and faster settlement. It also lays the foundation for scalable cross-border payout capabilities, which will be extended to SMEs and corporate flows pending regulatory approval.

“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 compliance and customer experience.”

With Banking Circle’s local clearing infrastructure, EbixCash can now offer direct settlement via local rails across key corridors including the UK, EU, US, Canada, Australia, Singapore, and the GCC. Leveraging Banking Circle’s virtual IBANs and structured references, the partnership will eliminate hidden costs, improve traceability, and simplify reconciliation — critical for universities, travel providers, and customers managing complex documentation.

“We are creating a future-ready platform that will address current market gaps and redefine how India connects with the global economy,” said Mishal Ruparel, Chief Commercial Officer at Banking Circle. “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.”

This development reinforces Banking Circle’s commitment to building embedded financial infrastructure tailored to local market needs, as part of its global expansion strategy.