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MobiKwik Launches Forex Payments on Mobile
18 Nov
Summary
- MobiKwik integrates forex payments via UPI and net banking.
- Users can now top up forex cards instantly with same-day fulfillment.
- This initiative aims to make foreign exchange as seamless as domestic digital payments.
MobiKwik, a prominent Indian fintech, has introduced foreign exchange (forex) payment services directly through its mobile application. This new feature, developed in collaboration with NPCI Bharat BillPay Limited, allows users to manage their forex needs digitally, including booking, topping up forex cards, and remitting funds abroad. Transactions can be completed instantly using net banking or UPI, with a notable same-day fulfillment option.
The digital forex category is designed to provide a cost-efficient and transparent alternative to traditional methods. It supports competitive USD rates and ensures a secure, regulated platform overseen by the RBI and NBBL. This launch is expected to benefit students paying international fees, travelers, and businesses making overseas payments, aligning with India's vision for a fully digital financial ecosystem.
Currently supporting USD, MobiKwik plans to expand its currency offerings in the future. The company, a leading digital wallet and UPI platform, continues to enhance its product suite, aiming to simplify financial services for all Indians and bridge everyday needs with technology-driven solutions.
