Digital platform
Wise
Remittance incumbent building India infrastructure: ~10% of inbound India transfers, a Hyderabad hub, and an RBI PA-CB nod.
Dedicated NRI team
No
Strategy tenure
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India onshore arc
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Hubs
India onshore
Wise is included only for its India corridor. It is a general-purpose cross-border money-transfer incumbent, not an NRI-dedicated or wealth player, but it owns the low-cost transfer rail the NRI-native fintechs must beat or partner with — by its own claim, about 10% of all money sent from abroad to India moves on Wise. It is turning India into infrastructure rather than just a corridor: a full-stack Hyderabad hub announced in April 2025 (opening in H2 2025), and an RBI in-principle approval in June 2025 to operate as a Payment Aggregator - Cross Border for exports.
Why it matters
Wise is the remittance incumbent turning India into infrastructure rather than just a corridor: its own claim of ~10% of inbound India transfers, a full-stack Hyderabad hub, and an RBI PA-CB licence position it to move up-stack (business receivables now, outbound later). It is not an NRI wealth play, but it owns the low-cost transfer rail the NRI-native fintechs like Aspora and Abound are trying to beat on price and disintermediate with banking and wealth.
By the numbers
~10%
Share of money sent from abroad to India that moves on Wise (Wise's own claim)
Wise newsroom · Jun 2025 · self-reported
The journey
RBI in-principle approval as Payment Aggregator - Cross Border (exports)
Wise secured in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator - Cross Border for exports, supporting higher transaction limits (up to Rs 25 lakh) for freelancers and businesses receiving cross-border payments in eight currencies. Wise said the licence also opens the door to help Indian businesses send payments abroad in the future.
Announces Hyderabad full-stack hub (opening H2 2025)
Wise said Hyderabad would become its newest full-stack hub, opening in the second half of 2025, with plans to hire hundreds of employees. The hub is led by Smrithi Ravi, APAC head of engineering, relocating from Singapore. The company noted that about 10% of money sent from abroad to India uses Wise.
2 sources · all linked