Yes Bank Ties With BriskPe For Driving Cross-Border Payments For Indian MSMEs

Yes Bank has partnered with BriskPe to revolutionise cross-border payments for Indian MSMEs. The duo will introduce BriskPe A2A, a cutting-edge suite of solutions designed to empower exporters and importers. The tie-up is expected to enable BriskPe's customers to seamlessly collect payments in over 36 foreign currencies, spanning across more than 180 countries.

The partnership represents a significant leap in the realm of cross-border payments, benefiting Micro, Small, and Medium Enterprises (MSMEs) operating in the manufacturing and services sectors.

The funds can then be efficiently converted into Indian Rupees (INR) and settled directly into their local bank accounts in India within a single business day.

Ajay Rajan, Country Head of Digital and Transaction Banking at YES BANK, said, "The product built through the collaboration between YES BANK and BriskPe is a testament to the Bank's commitment to innovation and fostering export growth. Based on YES BANK's OPGSP Export APIs, the product is set to redefine the landscape of international trade with features like real time transaction processing and instant eFIRA generation. Through this, the bank also aims to contribute and strongly align with the government's aim of boosting the MSME sector and transforming India into a Global export powerhouse."

Also, Sanjay Tripathy, Co-founder & CEO of BriskPe, added, "BriskPe is at the forefront of driving transformative change in the cross-border payments landscape, reimagining how Indian MSMEs engage in global trade. Our suite of solutions goes beyond merely enhancing efficiency; it aims to empower Indian businesses to thrive on the international stage. Our collaboration with YES BANK, coupled with their digital banking capabilities, will play a pivotal role in achieving our mission of propelling India's export expansion by offering cost-effective and top-tier payment solutions."

Further, the partnership signifies a new era in cross-border payments, providing a seamless and efficient platform for Indian exporters to navigate the complexities of international trade and bolster their global competitiveness.

On BSE, Yes Bank's share closed at Rs 17.51 apiece, down by 1.02% on Thursday.

Yes Bank is a full-service commercial bank providing a complete range of products, services, and technology-driven digital offerings, catering to retail, MSME, and corporate clients.