1. Aspora, a fintech platform backed by Sequoia, is launching a new feature that allows Non-Resident Indians (NRIs) to pay bills in India directly, avoiding delays and high charges.
2. The service utilizes the Bharat Bill Payment System (BBPS), enabling payments for over 22,000 billers in India such as electricity providers, broadband companies, and loan servicers.
3. Aspora is currently available for users in the UK, with plans to expand to the U.S. and United Arab Emirates soon. The service has already reached 800,000 customers and saved them $25 million in transfer fees. Additionally, the startup aims to launch NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts next year for better management of foreign income and earnings within India.