Yes Bank partners with TerraPay for faster international remittance


Private sector lender Yes Bank has partnered with mobile payments switch TerraPay to enable real-time money transfer to bank accounts in India. Powered by TerraPay’s global clearing and settlement service, the partnership will make it faster and convenient for consumers to send money to any bank account.

TerraPay has partnered with Yes Bank in a Rupee Drawing Arrangement which enables TerraPay’s network partners to make instant cross-border money transfer to bank accounts in India. This means that Indian migrants worldwide can walk into TerraPay’s partner outlet anytime and send money to their family and friends back home, instantly in their bank account. For bank accounts other than Yes Bank accounts, Yes Bank will disburse funds using the immediate payment service, popularly known as IMPS. The service is available 24X7.
Banking Takeaways from above News-
  • Mr. Rana Kapoor is the Managing Director & CEO of YES Bank.
  • The Bank was founded in 2004.
  • Yes Bank is Headquartered in Mumbai.
  • TerraPay is a Global transaction processing, clearing and settlement service for mobile wallets.


Source- The Economic Times

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