Transferring money back home to India is now easier than ever. During a recent South Asia-focused briefing for media and community leaders, Mr Vinoth Manoharan, Country Manager of InstaReM, one of Southeast-Asia’s leading digital cross-border payments companies with a growing presence in Australia, revealed that focusing on customer experience and convenience has been integral in the firm’s growth and success in the Australia-to-South Asia/ India corridor.
India is the second largest global remittance market for Australia, with AUD$2.74 billion transferred from Australia to India in 2017. World Bank statistics show migrants in Australia sent close to AUD$23.816 billion overseas in 2017.
InstaReM started its operations in 2015 by enabling consumers, businesses and banks to make international money transfers at a low cost.The digital cross-border payment application also focuses on the needs of the South Asian/Indian diaspora in Australia through their core benefits which include zero-margins on foreign exchange rates, low transaction fees and speed of settlement.