NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), has partnered with BENEFIT, Bahrain's leading fintech and electronic financial transactions company, to enable real-time cross-border remittances between India and Bahrain.
This linkage will connect India's Unified Payments Interface (UPI) with Bahrain's Electronic Fund Transfer System (EFTS), specifically, Fawri+ service, allowing users in both countries to send and receive money instantly and securely, a joint statement said.
The collaboration, established under the guidance of the Reserve Bank of India (RBI) and the Central Bank of Bahrain (CBB), represents a key step in advancing cross-border payment connectivity between the two nations, it said.
It will enable residents to experience faster, more efficient, and cost-effective remittances, reflecting the shared vision to enhance digital financial inclusion and modernise cross-border transaction frameworks, it said.
By linking UPI and Fawri+ service, the initiative aims to establish a strategic remittance corridor between India and Bahrain, enhancing convenience for the large Indian community in Bahrain, which constitutes nearly 30 per cent of the country's population.
NPCI Bharat BillPay Limited (NBBL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), in collaboration with Clearcorp Dealing Systems (India) Ltd (Clearcorp), a wholly owned subsidiary of the Clearing Corporation of India Ltd. (CCIL), has introduced the Forex category on Bharat Connect.
The service offering is made possible by the integration of NBBL's Bharat Connect with Clearcorp's FX-Retail Platform, a joint statement said on Monday.
The launch of linkage of FX Retail Platform with Bharat Connect, enabling retail customers to access foreign currency (USD) through their preferred payment/banking apps integrated with the Bharat Connect (BBPS) platform, was held at the recently concluded Global Fintech Fest 2025, it said.
Customers can now seamlessly undertake forex transactions, such as buying foreign currency, reloading Forex Cards, or making outward remittances through select Third Party Application Providers (TPAPs) and mobile banking application(s) currently live with the service, it added.
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