LemFi, a leading fintech platform transforming financial services for immigrants, today announced that its international payments services are now available from Canada and the UK to India and will be available from the US to India later this year.
LemFi offers instant international transfers at the best exchange rates with no transfer or account maintenance fees.
Every year, millions of immigrants move to countries around the world in search of a new start. One of the first and biggest barriers they encounter is access to financial services. In 2020, LemFi created a platform to make life easier for immigrants abroad and enable hassle-free remittance payments to Africa. Since then, LemFi has expanded its offering from the US, UK and Canada to additional countries in Africa, Asia and Europe.
Today, LemFi can enable sending instant payments to India and 21 other countries for those who have recently applied for residency in a new country.
“We are excited to launch the new India service, which will enable the Indian diaspora in the US, UK and Canada to send instant remittances to their loved ones back home, with no remittance fees and at unbeatable exchange rates,” Philip said Daniel, Head of Global Expansion and India, LemFi. “As India is the largest recipient of remittances (estimated at $125 billion in 2023), our aim is to launch our India service from markets such as Europe and the Middle East in the future and LemFi’s position as the preferred one “To establish partners for the Indian population living abroad for their cross-border payment needs.”