IndusInd Bank Partners with JP Morgan Payments to Offer Outward Remittances in 123 Currencies

IndusInd Bank has announced a partnership with JP Morgan Payments to expand its outward remittance service to 123 currencies. The tie-up allows customers to send money directly in a beneficiary’s local currency without requiring intermediary conversions.

To facilitate these transfers, the bank will utilize JP Morgan Payments’ Xpedite solution. This platform provides automated currency rate feeds and leverages J.P. Morgan’s global network to streamline cross-border transactions. The service is currently accessible through IndusInd Bank branches, with plans to roll out the offering to online and mobile banking platforms in the near future to enable round-the-clock access.

Ganesh Sankaran, Executive Director at IndusInd Bank, stated that the collaboration is a response to increasing customer engagement with global markets. He noted that the expansion is a central component of the bank’s broader cross-border payments strategy. Meanwhile, Guhaprasath Rajagopal, Head of India Payments at J.P. Morgan Payments, remarked that the Xpedite solution combines global infrastructure with local expertise to deliver an integrated payments experience.

As of September 30, 2026, IndusInd Bank serves approximately 42 million customers through a network of 3,139 branches and 2,773 ATMs across India. The bank provides a wide range of services, including NRI banking, which aligns with the expanded currency coverage. Additionally, IndusInd Bank maintains representative offices in Dubai and Abu Dhabi to cater to the Indian diaspora.

J.P. Morgan Payments operates in more than 160 countries and processes close to $12 trillion in payments daily. Its Xpedite platform is specifically designed to reduce friction in multi-currency settlements, a capability that IndusInd Bank will now extend to retail and corporate customers conducting international transfers.

"This partnership highlights how traditional banking institutions are leveraging global payment infrastructure to improve cross-border transaction efficiencies for retail and corporate clients. By integrating platforms like Xpedite, banks can remove friction points such as intermediary currency conversions, offering customers direct local currency transfers. As global trade and diaspora engagement continue to grow, seamless multi-currency settlement capabilities will become an essential service offering for major financial institutions operating in India and international markets." — Dr. Shishir Gupta, Founder & CEO, StartupLanes