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|Capability||Cashfree Payments||Traditional LRS |
|Modes of payments||Net-banking via 38+ banks & |
UPI Payments (Industry-first)
|Remittances||Individual and consolidated |
|Only individual remittance|
|Remit from your own bank account|
User is required to have a current account from the remitter’s bank
|Same day remittance*|
|Native integration for your website or app|
|TCS calculation||Real-time calculation before |
|Manual calculation to be done before remittance|
|FX-rate calculation||Smart FX-rate calculation |
to fulfil complete payment after
|Manual calculation of FX rates|
|Real-time status of |
*All payments made before 1PM IST will be settled to the beneficiary account on the same day
Talk to our payments expert now
Outward remittance is the process of money transfer from India to any foreign country for purchasing goods, services, or for the purpose of studying, traveling, or investing abroad.
According to RBI’s Liberalised Remittance Scheme, all Indian individuals are allowed to freely remit up to USD 2,50,000 per financial year to any current or capital account transaction, towards study abroad, family maintenance, business/leisure travel or foreign investments.
With single API integration, Cashfree Payments support both LRS Capital and LRS current remittances, including investment, education, travel, family maintenance, etc. We also offer no-code solution for SMEs to plug and start immediately.
With Cashfree solution, Investors can use their existing bank account to invest in foreign stocks, payment can be done through 38+ banks via Net Banking and UPI; traditional ways restrict investors to invest foreign stocks through AD banks they are holding accounts with, or require investors to open new bank accounts.
Cashfree solution digitized the LRS compliance requirements, including A2 form, TCS collection, LRS limit checks; investors may need to sign on physical copy of A2 form and wait for AD banks to confirm TCS amount.
Cashfree solution can complete the remittance in 24 hours.
Collect customer payments, make payouts, manage international payments and so much more! Create your account or contact our experts to explore custom solutions.
Dedicated account manager