IndusInd Bank on Friday, November 6 announced a partnership with J.P. 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 Hindu BusinessLine reported.

Source: The Hindu BusinessLine

The bank will use J.P. Morgan Payments' Xpedite solution, which provides automated currency rate feeds and draws on J.P. Morgan's global network to streamline cross-border transfers, Reuters reported. 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.

Source: Reuters via TradingView

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.

The wider currency net matters most for money that leaves India every day: fees and tuition for students abroad, support for family members overseas, and payments by businesses to suppliers in smaller markets whose currencies previously had to be routed through a major currency first. Sending directly in the receiver's own currency removes that intermediate conversion step.

IndusInd Bank serves approximately 42 million customers through 3,139 branches and 2,773 ATMs across India as of September 30, 2026, and offers NRI banking services, with representative offices in Dubai and Abu Dhabi serving the Indian diaspora. J.P. Morgan Payments processes close to $12 trillion in payments daily, operating in over 160 countries.