Bharat Billpay & Federal Bank partner with LuLu Financial Group – The Peninsula

Bharat Billpay & Federal Bank partner with LuLu Financial Group – The Peninsula

Doha: In a major boost towards strengthening the scope of cross-border remittances into India, the much-awaited Bharat Bill Payment System (BBPS) has been activated for Indian expats living in the GCC region.

Federal Bank, one of India’s leading private sector banks, launched this facility in association with Bharat BillPay Limited (NBBL) - the wholly owned subsidiary of National Payments Corporation of India (NPCI), and Lulu Financial Group, at the Global FinTech Festival held in Mumbai earlier this

week.

This arrangement - considered a long-pending ask of NRIs, will now allow Indians living in the GCC to remit money directly to pay for their utility bills back home through any LuLu Exchange branch, as well as the digital money transfer app, LuLu Money.

At present, over 20,000 billers across 20 categories are covered for receipt of inward remittances in a cost effective and convenient option, through the LuLu Exchange network.

Commenting on this historic launch, Shalini Warrier, Executive Director, Federal Bank, said “We are delighted to be the first mover in launching this much awaited facility for Non-Resident Indians in collaboration with NBBL and Lulu International Exchange at the Global Fin tech Festival in Mumbai. The direct payment facility in cross border transactions has optimized the