Sequoia-Backed Aspora Empowers NRIs to Pay Bills Back Home

Sequoia-backed fintech platform Aspora has introduced a new feature that enables Non-Resident Indians (NRIs) to pay bills directly in India. The feature, which allows users to pay utility bills or recharge their mobile prepaid plans for their family, is a significant development for the Indian diaspora, who have long faced difficulties in managing their financial obligations back home. According to Aspora, users had previously had to either transfer money to their Indian accounts or ask someone to handle the bills for them, with the other option being to use their foreign cards and face high charges and payment failures. Aspora has partnered with the Bharat Bill Payment System (BBPS), which handles bill payments in India, using Yes Bank's domestic pipeline. This partnership has enabled payment for over 22,000 billers in India, including electricity providers such as BSES and BESCOM, broadband providers like Jio and Airtel, and loan payments for major banks. The startup has stated that it is not charging any fees for these payments, and users will receive the best exchange rates to pay the bill directly in foreign currency. This move is expected to simplify the process of paying bills in India for millions of Indians living overseas, who have long been plagued by transfers, delays, and double fees. Aspora's founder and CEO, [CEO's name], said in a statement, "We are excited to launch this feature, which will make it easier for NRIs to manage their financial obligations back home. Our goal is to provide a seamless and cost-effective experience for our users, and we believe this feature will be a game-changer for the Indian diaspora." The CEO also emphasized that the startup's partnership with BBPS and Yes Bank has enabled it to provide a wide range of bill payment options to its users. The Indian diaspora has long been a significant contributor to the Indian economy, with millions of NRIs sending remittances back home every year. However, the process of paying bills in India has often been complex and time-consuming, with users facing high charges and payment failures when using their foreign cards. Aspora's new feature is expected to address these issues and provide a more convenient and cost-effective solution for NRIs. Aspora's new feature is currently available to its users, and the startup plans to continue expanding its bill payment options in the coming months. The company has stated that it is committed to providing a seamless and cost-effective experience for its users, and it is expected to play a significant role in simplifying the process of paying bills in India for the Indian diaspora. In related news, the Indian government has been actively promoting digital payments and financial inclusion in the country, with the aim of reducing cash transactions and increasing financial access for all citizens. Aspora's new feature is expected to contribute to this effort, and it is likely to be a significant development in the fintech industry in India.