The economy of India has seen remarkable growth in the past few years and this has led to an increasing number of Indians seeking jobs and career opportunities abroad. These expats have the need to regularly send money back home to family members and friends in India, to help with bills and other expenses. Until now, there haven’t been many easy, quick, and affordable options available to them.
That will soon be changing, thanks to the efforts of former Hulu exec Prakash Sikchi. Sikchi has founded a company called InstaRemit, which is developing an app to make the process of international money transfers and remittances easier and more cost-effective for Indian expats. The app is designed to make transferring money back to India simple, fast and secure.
The app will make use of the latest in blockchain technology to make the transactions as secure as possible. It is designed to provide a more efficient and cost-effective alternative to the traditional banking system and also offer services such as instant purchase of currency.
InstaRemit is trying to make the process of remittances hassle-free and convenient for Indian expats, who often have to go through a cumbersome process to transfer funds home. In addition to providing more options and convenience, the app will also provide better control over the sender’s money. The user will be able to track all transactions and receive notifications and updates regarding transfers with a few simple clicks.
InstaRemit will also offer competitive rates and may even be cheaper than other remittance options. The app is now in its beta version and the company plans to launch a full version sometime in the next few months.
The launch of InstaRemit is great news for Indian expats who are looking for better, more affordable, and secure ways to send money back home. It is expected to make the process of international money transfer simpler and help Indian expats save money and time.
