LONDON, 7 OCTOBER 2025 – To meet India’s growing demand for seamless cross-border transactions, Banking Circle will enable EbixCash World Money (‘EbixCash’), a leading AD-II licensed foreign exchange and remittance provider in India, to offer faster and more transparent international money transfers.
This move will drive efficient and fully compliant international payments for Indian students and travellers, offering real-time tracking, lower charges and accelerated settlement. It also lays the foundation for scalable cross-border payouts capabilities, which will be extended to SMEs and corporate flows pending regulatory approval.
“By combining EbixCash World Money’s AD-II expertise with Banking Circle’s direct and local clearing, we are giving Indian students, travellers and businesses the speed, transparency and control they expect from a modern cross-border payments platform,” said T. C. Guruprasad, MD & CEO – Payment Solutions, EbixCash. “Opening our own multi-currency nostro is a structural shift – from agent-based transfers to infrastructure-grade payments – reducing costs and uncertainty while elevating compliance and customer experience.”
With Banking Circle’s local clearing infrastructure, EbixCash can now offer direct settlement via local rails across key corridors including the UK and EU. Leveraging Backing Circle’s virtual IBANs and structured references, this will also eliminate hidden costs, improves traceability and simplifies reconciliation – critical for universities, travel providers, and customers navigating complex documentation.
“We are creating a future-ready platform that will address current market gaps and redefine how India connects with the global economy. Our correspondent banking network coupled with EbixCash’s AD-II and remittance expertise will enable cross-border payments that are faster, more transparent, and fully compliant,” said Mishal Ruparel, Chief Commercial Officer at Banking Circle.
This development reinforces Banking Circle’s commitment to building embedded financial infrastructure tailored to local market needs, as part of its global expansion strategy.
For media queries, please contact:
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Banking Circle Gaya Ananda gaya@bankingcircle.com |
EbixCash Lucky Gadiya Lucky.gadiya@ebixcash.com |
About Banking Circle S.A.
Banking Circle S.A. is a public limited liability company (Société Anonyme) and a credit institution (e.g., a bank) headquartered in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF) as its home regulator. Banking Circle S.A. has branches in Denmark, Sweden, Germany, and the UK, and subsidiaries in Liechtenstein, Singapore, Australia and Norway. As a fully licenced bank, Banking Circle S.A. enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost.
Banking Circle S.A. is a modern correspondent bank committed to building a local clearing network for all major currencies, to deliver fast, low-cost payments with no hidden fees for the beneficiary. It provides a suite of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security. Through bespoke, flexible, scalable and futureproof solutions Banking Circle S.A. is enabling financial institutions to help their customers transact across borders in innovative ways.
About EbixCash World Money
EbixCash World Money is part of EBIXCASH Exchanges, which is an Authorized Dealer category-II license entity under Reserve Bank of India with a rich experience of 27 years for undertaking foreign exchange and money transfer business. EbixCash’s Forex operations have emerged as a leader in India’s airport Foreign Exchange business with operations in 23 international airports and 100 branches in 70 cities including Delhi, Mumbai, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. Under EbixCash, we have physical distribution outlets of 320,000 in India and other Southeast Asian Nations (“ASEAN”) countries, where we are engaged in the business of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, etc., in India and other markets. EbixCash, through its travel portfolio, is one of Southeast Asia’s leading travel exchanges with over 2,200+ employees, 212,000+ agent network and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year.