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Seamless Remittance: Leatherback Teams Up with YES BANK

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Leatherback and YES BANK have partnered to simplify remittance and Indian Rupee (INR) payouts in India via Leatherback’s technology-driven platform.

Distinguished as the first Africa-focused financial technology company to offer INR remittance payouts, Leatherback responds to the increasing trend of Africans and Indians exploring business and lifestyle opportunities across both continents.

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In recent years, trade between African countries and India has surged, reaching $103 billion in 2023, positioning India as Africa’s third-largest trading partner. Moreover, India has become a prominent destination for medical tourism, attracting 19.5% of African tourists for medical purposes in 2020.

Enhanced Transaction Experience for Global Users

The collaboration between Leatherback and YES BANK acts as a conduit for economic growth and cultural interchange, boosting financial connectivity between India and Africa. It empowers Leatherback users globally, facilitating swift fund transfers to individuals and businesses in India, leveraging YES BANK’s proficiency across retail, MSME, and corporate banking sectors.

Users only need to provide a valid Indian Financial System Code (IFSC), akin to SWIFT codes for USD and GBP payments, to complete transactions. Customers from over 20 countries benefit from a streamlined digital identity verification process, transparent fees, competitive real-time FX rates, and a secure, user-friendly onboarding experience for expanded payment opportunities in India.

Ibrahim Toyeeb Ibitade, CEO of Leatherback, “It is truly special to partner with YES BANK to connect more global players to emerging opportunities in India. India represents an exciting frontier for us on our mission to make it as easy as possible to move money around the world, and we are looking forward to playing our part in enabling the opportunities that abound in this market, with effective payment solutions. Over the years, we have delivered best-in-class financial, payment, and commerce solutions that remove barriers to global growth and mobility, and we are excited to leverage these solutions to unlock more opportunities in the Indian market.”

 

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