Eko, a leading mobile-based fintech company, today launched Domestic Money Remittance Service 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/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/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.”
Mr. Harsh H Thacker, Managing Director, The Services Online said “Delivering innovative services and quality products in market with safety and confidentiality of transactions was the prime motto of the company which got boosted by joining hands with EKO which not only helped us to make business environment smoother but also allows flexibility for connecting services to our platform smoothly.”
Eko is rapidly expanding its network and currently has more than 5000 agents across 13 states and 80 cities.
Founded in 2007, Gurugram (Gurgaon) headquartered Eko is India’s leading fintech company, which provides mobile money through its unique 2-factor authentication (2FA) technology. It is the only company globally that empowers customers to do secure financial transactions on their mobile phones, including basic feature phones, without installing any software on the phone or the SIM card. Eko’s platform has securely processed over $3 Million worth of transactions serving over 10 million customers, most of which are low / moderate income customers. In 2010, it was chosen amongst the ‘NASSCOM EMERGE 50 – The League of Ten for 2010’ list by NASSCOM, the Indian chamber of commerce, for “50 Emerging companies which are redefining the benchmark of excellence for the next generation of SMEs.”