This partnership brings increased flexibility to students, allowing them to initiate transactions 24/7, including weekends and holidays.
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Cashfree Payments, a prominent payments and API banking solutions provider has joined forces with Jamboree, a leading educational consultancy, to facilitate the payment of fees for Indian students studying abroad. This collaboration utilizes Cashfree Payments' cross-border payment solution, which simplifies and digitizes the entire payment procedure, covering KYC verification, fee collection, and outward remittances. It eliminates the requirement for in-person bank visits, offline KYC submission, and verification, offering students a convenient, rapid, cost-efficient, and transparent payment experience.
This partnership brings increased flexibility to students, allowing them to initiate transactions 24/7, including weekends and holidays. It empowers students to make remittances under the Liberalised Remittance Scheme (LRS) established by the Reserve Bank of India (RBI), covering a wide range of payment needs allowed by regulations. These include admission fees, education rental payments, student maintenance expenses, Guaranteed Investment Certificate (GIC) payments for students going to Canada, as well as blocked account payments for students heading to Germany. Additionally, it significantly reduces forex markup, making transactions more cost-effective for Indian students.
By utilizing Cashfree Payments' cross-border payments solution, Jamboree can effortlessly offer remittance services to students, including those who cannot visit physical branches. This partnership has equipped Jamboree with the tools to streamline, expedite, and make the payment process more cost-effective. Through Cashfree Payments' cross-border payment solution, Jamboree can seamlessly deliver educational consulting and manage international fee payments in one place, eliminating the need for separate investments in developing a technology infrastructure.