Visa, a leading electronic payments technology firm, today said it has received the RBI’s approval to offer inbound cross-border remittance to eligible Visa Debit or prepaid cards issued in India.
The RBI permission makes Visa the only electronic card payments technology company in India to support over forty banks, including ICICI Bank, Canara Bank and HDFC Bank, to enable them to offer their cardholders the facility of receiving remittances on their Visa Debit and prepaid cards, Visa said in a statement.
The permission allows Visa’s client banks in India to promote money transfer capability as a new channel to receive international remittances, it said.
