QicSEND Launches RoundUp, a Groundbreaking Remittance Service for Indian Students in Canada

TORONTO, April 1, 2024 /CNW/ - QicSEND, a leading Canadian fintech company regulated by FINTRAC, is proud to announce the launch of RoundUp, an innovative remittance service designed exclusively for the Canada-to-India corridor, with a specific focus on Indian students in Canada. With over a decade of experience in serving immigrant communities, QicSEND is now directing its expertise to address the unique financial needs of Indian students who contribute billions to the Canadian economy.

RoundUp is a revolutionary mobile application that simplifies and optimizes the remittance process for Indian students, while delivering industry best rates. Built as a Progressive Web App (PWA), RoundUp ensures a seamless, secure, and optimized experience across all devices, eliminating the complexities and inconsistencies often encountered with platform-specific apps. PWAs offer the best of both worlds, combining the speed, security, and ease of installation of web apps with the functionality and user experience of native mobile apps.

"We are thrilled to introduce RoundUp, a game-changer in the remittance industry," said Hari Nesathurai, CEO of QicSEND. "Our mission, in bringing RoundUp to market, is to empower Indian students in Canada by providing them with the most efficient, cost-effective, and user-friendly solution for their remittance needs. We understand the challenges they face and are committed to helping them navigate the financial landscape with ease."

Key features of QicSEND RoundUp include:

1. Single Corridor Focus: RoundUp is the first app designed exclusively for the Canada-to-India remittance corridor, catering to the specific needs of Indian students for loan repayments and family support.
2. Best Rate Guarantee: With the innovative "RoundUp" feature, users always get the best exchange rate, rounded up to the nearest whole number, eliminating the need to constantly search for optimal rates. RoundUp offers industry-best rates and lowest fees, with a flat $1.99 fee for students, helping them achieve financial freedom in Canada faster.
3. Seamless Integration: RoundUp builds a seamless gateway between Interac and India's UPI (Unified Payments Interface) instant payment system, making transactions quick, secure, and hassle-free. Users can instantly fund a transaction through Interac e-Transfer and pay someone in India just by having their UPI VPA (Virtual Payment Address).
4. No Middlemen: RoundUp's unique currency management system directly connects Canadian and Indian banks, bypassing expensive exchanges and intermediaries. This means lower costs for QicSEND and unbeatable savings for users. QicSEND has partnered with IndusInd and Yes Bank, and has extensive local business and regulatory relationships on both sides of the corridor.

Indian students often face challenges with high fees and poor exchange rates when sending money back home, sometimes resorting to underground money networks for better rates and speed. RoundUp addresses these pain points by providing a safe, reliable, and cost-effective alternative.

QicSEND's long term plans are to expand the RoundUp service to the broader Indian community in Canada, which is estimated to exceed 2 million people and sends close to CAD $4 billion in remittances each year. By catering to the diverse needs of the Indian diaspora, from students to families and working professionals, QicSEND is poised to capture a significant share of this thriving market. The company aims to grow RoundUp into a comprehensive platform of services that helps money flow bidirectionally, enables expats to better support their families, and offers unique value to customers in each country.

"Our goal is to be the go-to remittance service for every Indian student in Canada and grow from there," added Nesathurai. "Today, with RoundUp, we are not just providing a financial solution; we are empowering students to focus on their education and build a better future for themselves and their families."

QicSEND RoundUp is now available for download at qicsend.com/roundup. For more information about QicSEND and its services, please visit qicsend.com.

About QicSEND: QicSEND is a Canadian fintech company regulated by FINTRAC, specializing in mobile remittance solutions for immigrant communities. With over a decade of experience, QicSEND offers 42 CAD currency pairs and has extensive partnerships, with a particular focus on India and the Philippines. The company is committed to providing secure, compliant, and user-friendly remittance services that empowers immigrants to maintain strong financial ties with their home countries.

SOURCE QicSEND

Andrew Yakovlev, CMO, [email protected]