Foreign remittance for higher education may increase up to USD 80 billion by 2024, as per the Redseer Report on Higher Education Abroad, 2021. Presently, majority of such remittances are undertaken using SWIFT having a processing period of 2-3 days before any amount is actually credited in the bank account of the recipient.
First of many such alternatives, is Revolut, a fintech that allows real-time remittances in foreign currencies across the world irrespective of the location of the recipient and sender.
Likewise in India, Reeudo, a fintech company has recently launched an app for enabling digital remittance of funds.
Reeudo has recently obtained its registration of Full-Fledged Money Changer License from the Reserve Bank of India on February 21, 2022. It was assisted by AK & Partners with the team comprising of Anuroop Omkar (Partner), Kritika Krishnamurthy, (Partner), and Anushree Jugade (Senior Associate) in obtaining the same.