VMPL
New Delhi [India], June 27: Indian businesses and vendors working with US clients can now receive international money transfers within hours instead of waiting days, thanks to Zil Money's newly launched cross-border payment feature. The fintech company has introduced a revolutionary digital payment solution that enables direct US to India money transfers from Zil Money wallets to Indian bank accounts, transforming how international business transactions are conducted.
The service addresses a long-standing challenge faced by Indian vendors, freelancers, and service providers who often experience delays of 3-5 business days when receiving international payments from US clients through traditional banking channels. With Zil Money's new fintech solution, these cross-border payments can now be processed and received within hours.
Transforming US-India Business Relations
The international payment feature leverages Ripple's advanced blockchain technology to deliver unprecedented speed and transparency in cross-border money transfers. For Indian businesses, this blockchain-powered payment system means faster access to working capital and improved cash flow management when dealing with American clients.
"This digital payment feature transforms international money transfers from a planning constraint into a practical business tool," said Sabeer Nelli, CEO of Zil Money. "Indian vendors can now receive US payments with confidence, knowing their international remittances will arrive within hours rather than days."
The service is particularly beneficial for India's thriving IT services sector, digital marketing agencies, software development firms, and freelance professionals who regularly work with US-based companies. These businesses can now offer more competitive payment terms to their American clients while ensuring quicker access to their cross-border earnings.
Advanced Technology for Faster International Money Transfers
Zil Money's cross-border payment system bypasses the complex chain of correspondent banks that typically slow traditional international money transfers. The blockchain-based digital payment approach enables real-time verification of payment success and provides complete transaction visibility through the Zil Money dashboard.
Indian recipients can access funds immediately in their bank accounts upon successful transfer, eliminating the uncertainty and delays associated with conventional international wire transfers. The system provides real-time tracking capabilities, allowing both US clients and Indian vendors to monitor their cross-border payment progress until successful receipt confirmation.
The fintech technology automatically selects the most efficient payment paths, ensuring that US to India money transfers reach Indian bank accounts through the fastest available routes. This direct routing not only accelerates international payment processing but also reduces costs and increases transparency for both parties.
Expanding Digital Payment Opportunities for Indian Businesses
The cross-border payment service currently supports international money transfers from the US to India, along with eight other countries including Germany, France, Estonia, Sweden, the United Kingdom, Philippines, China, and Australia. Zil Money plans to expand to additional markets in the coming months, further enhancing opportunities for Indian businesses to work with global clients.
For Indian vendors, the key operational improvements include immediate access to international payments without the need for clients to pre-fund foreign accounts, access to real-time exchange rates for better financial planning, and affordable transaction fees with transparent pricing and no hidden markups.
The digital payment feature particularly benefits Indian businesses maintaining relationships with multiple US clients. The ability to receive timely cross-border payments helps ensure smooth operations and strengthens international business relationships, making Indian vendors more attractive partners for US companies.
Enhanced Security and Market Impact
Security remains paramount in Zil Money's international payment system. The platform employs industry-leading security measures including advanced detection systems and full adherence to international standards, with authentication required for payment initiation.
The launch represents significant opportunities for India's growing fintech sector and its position in the global digital economy. Industry experts note that such innovations can boost India's services exports by making it easier for US companies to work with Indian vendors.
About Zil Money
Zil Money is a financial technology company serving over 1 million online business accounts and processing more than $95 billion in transaction value. The company provides banking services through partnerships with FDIC member banks.
For Indian businesses looking to receive faster payments from US clients, this development represents a significant step forward in international commerce efficiency.
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