How it works
Rupees in. Their currency out.
At launch, you will pay in rupees. Your recipient will be paid in their own currency, usually within minutes, from funds NivixPe will hold in advance in their market. The conversion and settlement will follow.
How a payment moves
At launch, a payment is designed to move in four steps, from your rupees to your recipient's bank account.
You pay in rupees
Your payment will go in rupees to a licensed Indian payment partner.
Checked and documented
We will confirm the payment, screen it and prepare the purpose code and declarations.
Recipient paid
Your recipient will be paid in their own currency, from funds NivixPe will hold in their market in advance, usually within minutes.
Settlement follows
The partner's AD Category-1 bank will convert the rupees and settle them to NivixPe's escrow account at an IFSC Banking Unit in GIFT City, within one to two working days.
At launch, your money will only ever sit with regulated institutions. Recipients will be paid from NivixPe's own funds.
Where the money goes
The route is designed so your recipient is paid once your payment is confirmed, without waiting for your rupees to be converted and settled. Settlement is expected to follow in one to two working days.
Sender, India
You
Will pay in rupees
1You will pay in rupees
India
Licensed Indian payment partner
Will collect your payment. Its AD Category-1 bank will convert the rupees later.
4Later: rupees converted and settled
NivixPe, GIFT City
Escrow account
At an IFSC Banking Unit. Settlement expected within one to two working days.
2Partner confirms your payment
Recipient
Recipient's bank account
Will be paid in their own currency
3Recipient paid (target: within minutes)
NivixPe
NivixPe's own funds
Held in advance in the recipient's market (at launch)
4To refill NivixPe's own funds
Solid arrows: payments. Dashed arrows: settlement, which follows later.Settlement, which follows later, is shown as text without an arrow. Dotted arrow: a confirmation message, not money.
Who holds your money at each stage
The table follows one payment, as it is designed for launch, from the moment you pay to the moment NivixPe's own funds are refilled.
| Stage | Who holds the money | Currency |
|---|---|---|
| Customer pays | Licensed Indian payment partner | Indian rupees |
| Recipient paid | NivixPe's own funds, placed in advance with the payout partner | Destination currency |
| Conversion and remittance | The partner's AD Category-1 bank, then escrow at an IFSC Banking Unit in GIFT City | Rupees converted to foreign currency |
| Settlement | NivixPe's escrow will refill NivixPe's own funds | Foreign currency |
Into India, later
Receiving money from abroad will be the same in reverse. We are building the route out of India first, and will share more about the return route when it is closer.
The documents differ by sender. Read about paying a supplier or sending money to family.
Want to hear when we launch?
NivixPe is in development and not yet accepting payments. Join the waitlist and we will email you before launch.