IndusInd Bank ties up with JP Morgan Payments to offer remittances in 123 currencies

IndusInd Bank on Friday announced a partnership with JP Morgan Payments to expand its outward remittance service to 123 currencies, allowing customers to send money directly in a beneficiary’s local currency without intermediary conversions.

The bank will use JP Morgan Payments’ Xpedite solution, which provides automated currency rate feeds and taps J.P. Morgan’s global network to streamline cross-border transfers. The service is currently available at IndusInd Bank branches, with a rollout to online and mobile banking planned for the near future, enabling round-the-clock access.

Ganesh Sankaran, Executive Director at IndusInd Bank, said the tie-up was a response to growing customer engagement with global markets and described the expansion as central to the bank’s cross-border payments strategy. Guhaprasath Rajagopal, Head of India Payments at J.P. Morgan Payments, said the Xpedite solution would deliver an integrated payments experience by combining global infrastructure with local expertise.

IndusInd Bank serves approximately 42 million customers through 3,139 branches and 2,773 ATMs across India as of September 30, 2026. The bank offers a range of services including NRI banking, which makes the expanded currency coverage particularly relevant to its customer base. It also maintains representative offices in Dubai and Abu Dhabi to serve the Indian diaspora.

J.P. Morgan Payments processes close to $12 trillion in payments daily, operating in over 160 countries. Its Xpedite platform is designed to reduce friction in multi-currency settlements, a capability IndusInd Bank will now extend to its retail and corporate customers seeking to make international transfers.