Eko launches domestic money remittance service

Eko, a leading mobile-based fintech company, today launched Domestic Money Remittance Service through API integration in partnership with 10 plus companies in mobile recharge, travel and ticketing domain.
"This is really to further push the agenda of "Make in India" and also contributing towards "India Stack" which is trying to bridge the digital divide in our country," Eko Financial Services Co-Founder and CEO Abhishek Sinha said in a statement here.
Some of the partner companies include UFX, the Services Online and Yahya Technologies.
With this, the partner companies will plug in Eko's API to leverage the platform for direct connectivity with NPCI, UIDAI, banks and aggregators.

During a three-month beta testing phase, Eko has helped its partners process over Rs 100 crore of remittances over these APIs.
Eko has released APIs for its domestic money transfer business which allows companies who have similar business models to plug in these APIs and extend the same to their channel partners.

The APIs also allow development of innovative payment and financial services such as digital wallets, P2P transfers and in store and online payments.
"This is yet another milestone for Eko in domestic money remittance service ..The API will further enhance UI/UX, making it win-win situation for both Eko and its partners. Together, we look forward to providing higher value to our customers," Eko India Financial Services Product Manager Rahul Jain said.

Eko is rapidly expanding its network and currently has more than 5,000 agents across 13 states and 80 cities, the company said.