Mumbai based omnichannel payments company, Airpay, has announced its partnership with InstaReM to launch “FX payment,” an international payment solution for its merchants.
“Being, an alternative to the credit cards, which are currently used by customers in 27 countries for making international payments. FX payments will provide highly effective, and cost-effective payment solution for Airpay’s Indian merchants in hospital, retail, education sectors, and their overseas customers to make payments through InstaReM on Airpay payments platform,” the company said.
Further adding to the statement, the company said, “FX Payment service will benefits merchants by removing their compliance overhead as well as significantly reducing the cost and time of the transaction. Customers enjoy the benefit of paying in their local currency, competitive exchange rates, and avoid bank or credit card charges associated with international payments.”
Speaking on the partnership with InstaReM, Kunal Jhunjhunwala, Founder and Managing Director, Airpay, said: “International payments through credit cards are opaque and expensive due to high processing charges and hidden fees that are not typically known or explained to the consumers.”
“By leveraging InstaReM’s global presence and capabilities in cross-border payments, we are offering a seamless and transparent payment option, which is going to be immensely beneficial to the merchants using our platform as well as their customers,” Kunal added.
Adding to the statement, InstaRem’s founder and CEO, Prajit Nanu, said, “By extending our capabilities to payment gateways, by offering a fast, secure and cost-effective payment option to customers buying on e-commerce sites. This partnership will allow consumers from all over the world to make payments in real-time to some of the high-reputed merchant’s brands in India.”