Instarem relaunches cross-border payments services in India

By Gloria Mathias

Instarem, an overseas payment solution, has relaunched its digital remittance services in India.

This strategic re-entry into the Indian market aims to deliver a smooth remittance experience, with a focus on catering to the requirements of students and individuals seeking affordable overseas education payments.

Instarem has been serving customers in India since 2018. However, due to a directive from the Reserve Bank of India to SBM Bank, it paused its operations temporarily in early 2023, along with many other remittance providers in the region.

The Instarem brand, returning to India, is powered by Nium-Forex, an established, regulated provider of financial products and services in India.

The new solution offered by Instarem focuses on removing the pain points faced by individuals and students who are trying to find a hassle-free and cost-effective way to finance their education overseas.

The new solution liberates its users from restrictive transaction limitations, enabling them to make large payments annually without the necessity of splitting the payment into numerous transactions. This simplifies the process and makes it more economical for their customers.

In its relaunch, Instarem (powered by Nium-Forex) revolutionises convenience by providing an entirely digital experience. Users can securely and conveniently send funds from the comfort of their own space, eliminating the need to make time-consuming trips to physical locations. This means no more frustrating hours spent in traffic or queuing up at banks or remittance centres, making the entire experience smoother, more efficient, and hassle-free.

Yogesh Sangle, Global Head of Instarem, said, “We’re thrilled to bring back our remittance services in India, powered by Nium-Forex. We understand that sending money abroad from India can be tough, and that’s our unwavering commitment, in line with our mission to make money simple and to ensure it becomes easy for our customers. Our relaunch reaffirms our strong dedication to serving the needs of our Indian users, giving them a straightforward, cost-effective, and exceptionally efficient way to send money internationally and invest in their education.”