• Beacon has launched India Bill Pay, allowing NRIs in Canada to pay Indian bills in Canadian dollars through a partnership with Bharat Connect and YES BANK.
  • The service simplifies cross-border payments by enabling direct transactions to over 21,000 Indian billers, eliminating the need for NRI accounts or intermediaries.

Beacon, a financial services company catering to immigrants in Canada, has introduced India Bill Pay, a new feature that enables direct bill payments to India in Canadian dollars.

The service, launched in collaboration with Bharat Connect and YES BANK, aims to simplify financial transactions for non-resident Indians (NRIs) who need to pay bills for themselves or their families back home.

NRIs often face challenges in managing financial obligations in India due to banking restrictions. Many rely on maintaining NRI bank accounts or asking family members to handle payments, both of which can be inconvenient. Beacon’s new service seeks to address this issue by allowing direct payments to over 21,000 Indian billers, including utilities, loans, school fees, and hospital expenses.

"As an NRI in Canada, I faced challenges paying bills in India for my family. That’s why we partnered with YES BANK and Bharat Connect to build Beacon India Bill Pay, a product designed to provide a seamless experience to NRIs like me," said Aditya Mhatre, Co-Founder and Chief Product and Technology Officer of Beacon.

The service operates under the Rupee Drawing Arrangement (RDA), a framework regulated by the Reserve Bank of India (RBI) that ensures compliance with financial regulations. Payments are securely processed through YES BANK and Bharat Connect, formerly known as Bharat Bill Payment System (BBPS), which facilitates bill collections and settlements in India.

Noopur Chaturvedi, CEO of NPCI Bharat BillPay Limited, emphasized the significance of the collaboration, stating that the partnership with Beacon aims to extend the convenience of Bharat Connect to users in Canada. She noted that the initiative reflects the organization's commitment to providing a seamless, convenient, and reliable platform for bill payments, ensuring that Indians abroad can efficiently manage essential services back home.

Key features of India Bill Pay include a 100% digital KYC process for onboarding within 10 minutes, automated bill reminders, and real-time bill fetching. The platform also ensures security through end-to-end encryption and strict adherence to RBI policies.

Ajay Rajan, Country Head at YES BANK, highlighted the broader impact of the initiative, stating that YES BANK is proud to partner with Beacon to introduce a transformative cross-border payment solution. He noted that by leveraging the Bharat Connect model and the RDA framework, the collaboration aims to bridge the gap between Indian and international financial ecosystems.

Edited by Harshajit Sarmah