Canara Bank and NPCI Bharat BillPay collaborate to introduce Cross Border Bill Payments for the Indian diaspora in Oman
Mumbai, 12th April 2023 – NPCI Bharat BillPay Ltd. (NBBL), in association with Canara Bank, has announced the launch of Cross Border Inward Bill Payments services for Indians based in Oman. NRIs can now leverage the robust platform offered by Bharat Bill Payment System (BBPS) to make bill payments on behalf of their families, through the Musandam Exchange.
This initiative signifies a milestone for Canara Bank as the first public sector bank in India to offer inbound cross-border bill payments through BBPS. With this development, Indians living in Oman will now be able to make quick, simple, and secure payments on bills for services back home. Musandam Exchange, which is managed by Canara Bank, is also the first exchange house in Oman to go live on cross-border inbound bill payments.
The Cross-border bill payment service is already live in Kuwait, facilitating inbound remittances across utilities like electricity, water, mobile phone, gas, credit card bills, and more. With this development, NRIs in Oman will now enjoy these benefits for the very first time, marking an important juncture in India’s digital payments journey. The service provides Indian expatriates, who up until now had to rely on conventional methods to pay their domestic bills, with a much-needed option.
A comment by K Satyanarayana Raju, MD & CEO at Canara Bank, on the occasion, said, “We are proud and delighted to be the first PSB to introduce this much-awaited facility in collaboration with NPCI Bharat BillPay Ltd. and Musandam Exchange for Non-Resident Indian Diaspora in Oman. This initiative is in line with our commitment to provide innovative and customer-centric solutions to our clients. We are confident that this facility will enhance the banking experience of our NRI customers and strengthen our relationship with them.”
Commenting on the launch, Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd., said, “We are delighted to announce the launch of our services for NRIs living in Oman. Indians in Oman will now be able to take advantage of the fast and secure bill payments platform offered by BBPS. We are grateful to Canara Bank for being fundamental in bringing this project to fruition. This new initiative will not only provide a convenient bill payment solution but will also have a significant impact on the lives of thousands of Indians living in Oman.”
About Canara Bank
Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry.
Canara bank Remit Money
Canara bank is providing instant remittance facility to Indian diaspora in middle east and other countries through various exchange houses. Canara Bank offers the facility in the following countries – UAE, Qatar, Kuwait, Bahrain, Oman, Tanzania, UK. This enables quick and hassle-free remittance facility to India.
For more information on Canara Bank, visit us at: https://canarabank.com/
About NPCI
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag) and Bharat BillPay.
NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
For more information, visit: https://www.npci.org.in/
About NPCI Bharat BillPay Ltd.
NPCI Bharat BillPay Ltd. is a wholly-owned subsidiary of National Payments Corporation of India. Came into effect from April 1, 2021, NBBL is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections. The platform offers 20,000+ billers across multiple bank and non-bank channels.
