EbixCash is one of the most popular platforms in India to book travel, recharge mobile phones, send money to relatives and much more. In a bid to bring its tech to the 21st century, it has inked a deal with MoneyGram that will see its money remittance services skyrocket thanks to the superior tech of MoneyGram.
Improving Remittance Services Across India
As with most Asian countries, a great deal of Indian nationals that work overseas send a portion of their wage back to India for their families. In order for this to be as smooth and efficient as possible, these people need to rely on top quality money remittance services. As it stands, EbixCash has a solid platform, but MoneyGram’s tech is far superior. To help close the market and make the service more reliable, the two giants have joined forces in a bid to help speed up the remittance business to India and make it cheaper for all customers using the service.
EbixCash Cashing in on Ripple’s Tech
Back in August 2019, MoneyGram integrated its platform with Ripple’s xRapid technology. This helped MoneyGram transfer money overseas faster and cheaper than ever before. Thanks to this new deal, all EbixCash customers will be able to use this tech to speed up their transfers and make them cheaper than ever before – resulting in more hard-earned money reaching the end consumer.
Lightyears Ahead of Western Union
The reason for the deal with MoneyGram is simply due to the fact that the other largest player in the industry is still lagging behind. Western Union has been testing out the Ripple ecosystem for several years now and is still reluctant to use it. This means it’s far slower and costlier than MoneyGram’s services, meaning MoneyGram is the standout partner for EbixCash if it truly wishes to capture the market by storm.
This brand-new deal between EbixCash and MoneyGram is huge, serving Indian customers all around the world. As the deal grows and the partnership flourishes, we can expect to see even more money flow through Ripple’s xRapid platform thanks to this partnership.