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Beacon Introduces India Bill Pay Service for NRIs in Canada.

Banking & Finance | Dated: 07 Feb 2025

On February 5, 2025, Beacon, a Toronto-based fintech firm specializing in financial services for immigrants, launched 'India Bill Pay', enabling Non-Resident Indians (NRIs) in Canada to pay bills directly in India using Canadian dollars through their Beacon Money account via the Beacon Money app.

🎯 Key Highlights:

  • - This first-of-its-kind service simplifies bill payments for NRIs in collaboration with Bharat Connect (formerly Bharat Bill Payment System - BBPS) and Mumbai-based YES Bank Limited. With this launch, Beacon becomes the first North American company to integrate with Bharat Connect.

💡 Other Important Facts:

  • (i) Enables NRIs to pay over 21,000 Indian billers, covering utilities, loans, school fees, and hospital charges.
  • (ii) The service ensures a seamless and secure process, utilizing the Rupee Drawing Arrangement (RDA) regulated by the Reserve Bank of India (RBI).
  • (iii) Offers 100% digital Know Your Customer (KYC) with onboarding in just 10 minutes, auto-fetches bill amounts, and provides timely payment reminders for convenience.

📚 Test Your Knowledge:

Which fintech company recently launched the ‘India Bill Pay’ service for NRIs in Canada?

Correct Answer: Beacon

🚀 Quick Recap: