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Cashfree payments partners with YES Bank to offer Global connections service
May 11, 2023
Cashfree Payments and YES Bank have joined hands to launch ‘Global Collections‘, an international collection service for exporters who hold an account with YES Bank. This partnership enables the bank’s account holders to collect payments in over 30 foreign currencies using the Global Collections service. Additionally, the funds collected can be converted into INR and settled into their local bank account within one business day.
Fast On-boarding: The on-boarding process for the Global Collections service is quick and easy, allowing exporters to start collecting payments in a short period.
Auto-generation of e-FIRA: Exporters will be able to receive foreign inward remittances advice (e-FIRA) within 24 hours.
Seamless Reconciliation: The service provides seamless reconciliation of incoming payments and settlements, making it easy for exporters to keep track of their finances.
Ability to accept payments from over 180 countries: With the Global Collections service, exporters can accept payments from over 180 countries in more than 30 currencies.
Save more on FX: The service enables exporters to save more on foreign exchange compared to traditional SWIFT for small value transactions.
Multiple Payment Options: Exporters can provide their overseas clients with multiple payment options, including local bank transfers like ACH or SEPA.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://ask.careers/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
