Mumbai, November 25, 2008: Barclays Bank, a world leader in financial services with a substantial NRI customer base has announced a tie-up with TimesofMoney, India’s foremost e-payments and remittance service provider to launch its own remittance service – ‘Barclays Online Money Transfer’ for their customers in UK.
Barclays Online Money Transfer will enable the bank’s customers in the UK to transfer money online directly to any Barclays account anywhere in India. The services will be extended in the near future to customers in other countries as well, who wish to send money to India. With the availability of the latest technology from TimesofMoney for the “Barclays Online Money Transfer” remittance service, customers can now transfer their monies in a secure environment conveniently. Remittances ranging between GBP 250-3000 can be made through this platform.
Speaking on the initiative, Samir Bhatia, Managing Director, India and Indian Ocean, Barclays Global Retail and Commercial Banking , said, “We are a global bank and are committed to provide a seamless banking experience to our customers in India. With presence in over 50 countries, our efforts converge towards providing services, whereby customers enjoy a distinct advantage in terms of mobility across geographies and the convenience of anywhere – anytime banking. Having partnered with TimesofMoney, who possess strong technology and risk management capabilities in the domain, we are now ready to offer convenient and secure remittance service to our customers and establish our presence in the segment”
You could use this service by logging on to Http://www.barclays.in/channels/omt/remittance.htm
Avijit Nanda, President, TimesofMoney, adds, “With Barclays Bank joining TimesofMoney as a banking partner, it will help us extend our offering to the customers enabling secure online payments. This marks yet another significant milestone for TimesofMoney not only in terms of acquiring a very important partner but also in expanding the reach of our online payment offerings to major corporations. We are very optimistic to partner with Barclays Bank to use cutting edge technology to enhance the value proposition to our partners. With the extension of our white labeled solutions, our partners can conduct their business with a higher level of security and greater convenience.”
Barclays has been present in India for close to 30 years. Barclays launched commercial banking services in the country in November 2006 and followed it up with retail services in May last year under the Global Retail and Commercial Banking (GRCB) division. In the UK, the bank launched NRI Banking in July last year and presently offers NRI products & services from over 116 branches in the UK.
About Barclays Global Retail and Commercial Banking (GRCB):
Barclays Global Retail and Commercial Banking (GRCB) encompasses all of Barclays retail and commercial banking businesses around the world. Operating in more than 50 countries and employing more than 107,000 people, Barclays GRCB comprises UK Retail Banking, Barclays Commercial Bank, Barclaycard, Absa (Barclays Bank PLC owns 58,8% of Absa Group Limited), GRCB Emerging Markets and GRCB Western Europe. Barclays GRCB serves millions of customers and clients around the globe through a network of more than 4,050 branches and sales centres, and more than 12,600 ATMs.
To find out more about the individual Barclays GRCB businesses, please visit our website: www.barclays.com
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 150,000 people.
Barclays moves, lends, invests and protects money for over 42 million customers and clients worldwide.
For further information about Barclays, please visit our website www.barclays.com
TimesofMoney is a leading services provider of online remittances with a market share of 30 percent. The company provides money transfer services into India spanning 23 countries, 6000 locations and 16000 banks to 30000 NRIs. NRIs can now remit nine currencies through seven modes of payment and delivered in two modes. In addition, TimesofMoney also provides NRI Services, co-branded cards and is a pioneer in online payments. TimesofMoney has been growing rapidly at a CAGR of 70 per cent. The company provides round the clock customer support via e-mail, chat, SMS and a toll free helpline.
For further details, please contact:
Tel: 0207 185 1998