Eko launched Domestic Money Remittance Service(DMRS) through API integration in partnership with 10 plus companies in mobile recharge, travel & ticketing domain. 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 & financial services such as digital wallets, P2P transfers and in store & online payments.
Mr. Abhishek Sinha, Co-founder & CEO, Eko Financial Services said, “We would like the developer community to leverage Eko’s PPI license & framework of payment APIs and build their own innovative use-cases or products. 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.”
Mr. Rahul Jain, Product Manager, Eko India Financial Services said, “This is yet another milestone for Eko in domestic money remittance service. Eko is emerging as the most preferred and convenient choice for domestic money remittance service. Our user experience is far superior to existing options and brings in more flexibility, trust and transparency over product & pricing. The API will further enhance UI and UX, making it win-win situation for both Eko and its partners. Together, we look forward to providing higher value to our customers.”
Mr. Usman Faheed, Managing Director, UFX said, “As we at UFX believe in ‘Customers is First & always right’ so our understanding on business growth is to fulfil their demands without delay. With Eko as our technology partner, we are sure that we will grow in multi-folds by providing innovative products, superior quality and trust to our channel. Both EKO and UFX are in similar lines in terms of our vision and mission which is the key to our partnership.”
Eko is rapidly expanding its network and currently has more than 5000 agents across 13 states and 80 cities.