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In a bid to enhance cross-border payment offerings for Indian exporters, Cashfree Payments, an India-based primer payments and API banking company has announced its partnership with Global Trade Plaza, a global B2B Marketplace.
The partnership aims to offer Indian exporters a more efficient and hassle-free experience when dealing with international transactions.
Under this new partnership, Cashfree Payments will introduce its ‘Global Collections’ solution, enabling Indian exporters to collect payments in over 15 different foreign currencies.
This innovative solution ensures that the received funds are promptly converted into Indian Rupees (INR) and settled into the exporters’ local Indian bank accounts within a swift 48-hour window. Additionally, exporters will have access to auto-generated foreign inward remittances advice (e-FIRA).
Speaking about the partnership, Reeju Datta, Co-Founder, of Cashfree Payments, said, “We are excited to partner with Global Trade Plaza to offer a seamless cross-border payment experience to Indian exporters through our ‘Global Collections’ solution. At Cashfree Payments, we have been at the forefront of building cross-border solutions, and partnerships like these help us further our goal of supporting and helping Indian businesses to grow and thrive globally.”
“We are thrilled to collaborate with Cashfree Payments to provide our exporters with a seamless and efficient cross-border payment experience using their ‘Global Collections’ solution. As a leading B2B portal & official partner of Société Générale de Surveillance (SGS), Global Trade Plaza is dedicated to aiding Indian businesses in global growth, fostering easy and secure international trade. Together with Cashfree Payments, we are working towards simplifying global transactions for Indian businesses and ensuring their continued growth and success,” Pulkit Dwivedi, Co-Founder, of Global Trade Plaza added.
The ‘Global Collections’ solution by Cashfree Payments allows exporters to share their global collection account details with international clients conveniently through email, SMS, or WhatsApp, and buyers can conveniently make payments utilizing local rails such as Automated Clearing House (ACH) and Single Euro Payments Area (SEPA). Additionally, the e-FIRA service will enable exporters to access remittance advice within 24 hours.