Indian Economy News

Canara Bank and Bharat BillPay have tied up for cross border bill payments for Indian diaspora in Oman

  • IBEF
  • April 13, 2023

For Indians living in Oman, Canara Bank and NPCI Bharat BillPay Ltd (NBBL) have announced the introduction of cross-border inward bill payment services. According to a statement released, Non-Resident Indians (NRIs) can now use the Bharat Bill Payment System's (BBPS) platform to pay bills on behalf of their families through the Musandam Exchange.

As the first public sector bank in India to offer inbound cross-border bill payments through BBPS, this initiative marks a significant milestone for Canara Bank.

The first exchange house in Oman to launch cross-border incoming bill payments is Musandam Exchange, which is run by Canara Bank, as per the statement. In Kuwait, the cross-border bill payment service is already operational and enables inbound remittances for utilities including power, water, cell phone, and gas bills as well as other bills.

NRIs in Oman will now enjoy these benefits for the first time, marking an important juncture in India's digital payments journey, the statement said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.