News ArticleIndusInd Bank partners with J.P. Morgan Payments to expand outward remittance services to 123 currencies
Integration of J.P. Morgan’s Xpedite solution allows direct settlement in local currencies, soon accessible via online and mobile banking
IndusInd Bank enhances its outward remittance service by partnering with J.P. Morgan Payments to enable customers to send payments in 123 currencies with direct local currency settlements, improving efficiency and expanding access for international transfers.
IndusInd Bank Limited
New Ventures
IndusInd Bank announced a collaboration with J.P. Morgan Payments to improve its outward remittance experience by enabling customers to send payments in 123 currencies with direct local currency settlement through the Xpedite solution.
The new partnership integrates J.P. Morgan Payments’ global network and automated currency rate feeds to streamline and speed up cross-border payment processing for IndusInd Bank customers.
Currently available at select bank branches, the expanded remittance service will soon be accessible through IndusInd Bank’s online and mobile banking platforms, providing 24/7 transaction capability.
This development strengthens IndusInd Bank’s cross-border payment offerings and provides customers with a broader currency range accessible through a single banking relationship.
J.P. Morgan Payments processes nearly $12 trillion payments daily across over 160 countries and 120 currencies, offering treasury services, trade and working capital, and digital payment capabilities.
Highlights
- IndusInd Bank expands outward remittance coverage to 123 currencies via J.P. Morgan Payments’ Xpedite solution.
- Customers benefit from direct local currency settlements and reduced need for intermediary currency conversions.
- Service currently available at branches; online and mobile access launching soon.
- Enhances cross-border payment efficiency and customer convenience.
- J.P. Morgan Payments processes $12 trillion in payments daily across 160+ countries.
Key Data Snapshot
What happened
- IndusInd Bank partnered with J.P. Morgan Payments to enhance its outward remittance offerings.
- The integration uses J.P. Morgan’s Xpedite solution for cross-border payments.
- Customers can now send funds in 123 different currencies with direct local currency settlement.
- This reduces intermediate currency conversions, making the remittance process faster and more efficient.
Key details
- The expanded service is currently offered at IndusInd Bank branches.
- Online and mobile banking access will be introduced soon, allowing 24/7 remittance capabilities.
- J.P. Morgan Payments provides automated currency rate feeds and a global payments network.
- This collaboration broadens currency access for IndusInd Bank’s customers through a single banking relationship.
Strategic context
- The partnership reflects IndusInd Bank’s focus on simplifying international payments for increasingly global customers.
- It leverages J.P. Morgan Payments' extensive global platform and local expertise.
- The enhancement supports IndusInd Bank’s Digital 2.0 strategy emphasizing multi-channel delivery and robust digital infrastructure.
- The offering aligns with the Bank’s goal to provide seamless and future-ready banking experiences.
Background and context
- IndusInd Bank serves approximately 42 million customers with over 3,100 branches and 2,700 ATMs as of September 30, 2026.
- The bank offers varied products including microfinance, personal loans, and SME loans among others.
- J.P. Morgan Payments specializes in treasury services, trade working capital, blockchain, and payment processing globally.
- The announcement was made public on November 6, 2026.
Highlights
- IndusInd Bank expands outward remittance coverage to 123 currencies via J.P. Morgan Payments’ Xpedite solution.
- Customers benefit from direct local currency settlements and reduced need for intermediary currency conversions.
- Service currently available at branches; online and mobile access launching soon.
- Enhances cross-border payment efficiency and customer convenience.
- J.P. Morgan Payments processes $12 trillion in payments daily across 160+ countries.
Disclosures
- Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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