GI Technology, an India-based Payment solutions provider, has teamed up with Prabhu Money Transfer of Nepal and RBL Bank to provide remittance services for the Nepalese residing in India.

GI Technology becomes the first non- banking institution to facilitate remittance transactions to Nepal as well as instantly send money to Nepal through its Smart Shops.

Prabhu Money Transfer will support remittances through GI Technology’s 90,000 agent locations across India.

Using the service, a Nepali migrant can use any of GI Technology’s network partners including The Smart Shop outlets to instantly remit cash back home in Nepal.

Customer can remit up to INR50, 000 with a commission of INR200 per transaction. Users can conduct a maximum of 12 transactions annually.

GI Technology MD Ramu Ramsamy said: "At present only 8.5 percent of total remittances from India are processed through banking channel, as compared to 80 percent of remittances, which are either carried by Nepali migrants when they return home or sent through their friends.

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"This Indo-Nepal Remittance Service is a giant leap by GI technology to promote remittances through formal channels. Now, the Nepali Diaspora can conveniently access our 90,000 agent locations across India to send money to their families in a secure & hassle free manner."