The India Post unveiled instant electronic money transfer service in collaboration with Wall Street Exchange, (a company of UAE’s Emirates Post Group) in New Delhi.
India Post inked a pact with Wall Street Exchange for launch of an International Electronic Money Transfer service through Instant Cash product of the Emirates Post Group. Instant Cash is a wholly owned subsidiary of the Emirates Post Group, and its services are available in 59 nations through more than 60,000 locations.
Key features of International Electronic Money Transfer service:
- Recipients will be able to collect their payment at any of the identified 17500 post offices by producing the unique transaction number along with their identity and KYC documents.
- Instant payment will be made.
- The transactions will be safe and secure through established International Financial System of Universal Postal Union.
- The service will be expanded throughout the country in a phased manner
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