TimesofMoney, Citi tie up for remittance

MUMBAI: Timesofmoney, India's leading payment solution provider and global banking giant Citibank, have entered into a strategic tie-up to launch a new remittance corridor.

The bank will use TimesofMoney's transaction processing capability to offer end-to-end online money transfer for NRIs in Singapore. This alliance further strengthen the relationship between the two corporates, as it marks the second global remittance corridor set up after the same was launched for the US.

Citibank can now offer a seamless, secure and quick money transfer service to its customers, wherein they can directly transfer money from bank account to the receivers account in India.

Avijit Nanda, president of TimesofMoney said: "We are delighted to extend our partnership with Citibank and believe that this association will go a long way to strengthen our relationship and help us set new industry benchmark. Our capability, industry expertise and understanding of the remittance market helped us gain credibility and win confidence. We endeavour to constantly support the banking industry through our technology solutions and expertise to enable them to provide remittance services to their international and domestic customers."