Sending remittance made easy

KATHMANDU: Western Union, a leader in global payment services, launched mobile money transfer service for

consumers receiving money in Nepal, enabling them to credit money sent from over 200 countries and territories directly into a mobile wallet. At a press meet organised here recently, it was informed that over 200,000 registered eSewa wallet users in Nepal will be able to enjoy this service.

The functionality of the new mobile money transfer service was developed through the collaborative efforts of Western Union, its agent Nabil Bank Limited, and FonePay Pvt Ltd — the mother company of eSewa. Consumers in Nepal who subscribe to an eSewa mobile wallet can now choose to receive money sent in minutes from Western Union agent locations and digital channels around the world using their mobile phones or through eSewa’s web interface —

“Western Union continues to expand its mobile footprint as part of our multi-product, multi-channel strategy,” said Patricia Riingen, senior vice president for East and South Asia at Western Union. “We are very pleased to expand mobile services to Nepal, and we remain committed to building our mobile network in strategic markets around the world,” she added.

Similarly, Anil Gyawali, CEO of Nabil Bank, said, “Nabil Bank is delighted to extend its long-standing relationship with Western Union to offer digital money transfer services to Nepal.” Asserting that remittances are an important aspect of economic stability for the nation as well as for home communities, he added, “We are happy to provide more choice and convenience to Nepalis consumers, no matter where they reside.”

The new offering complements Western Union services offered through its retail agent

network of over 5,600 locations in Nepal. The eSewa wallet users can cash their money from any of the 1,200 direct and sub-agent locations of Nabil Bank and over 300 cash-out enabled eSewa zones in Nepal with some of them open beyond traditional business hours and on weekends. The mobile account balance may also be used for local fund transfers, utility payments, purchasing goods and services at ‘eSewa accepted’ websites, et cetera.

Asgar Ali, CEO of FonePay, says, “As the demand for mobile solutions continues to grow, enabling international mobile remittances will help address evolving customer needs in a timely, efficient and proactive manner.”

Nepalis residing overseas have been increasingly sending money to support their families back home, as evident by remittance inflows to Nepal, which grew from USD 4.2 billion in 2011 to USD 4.9 billion in 2012. Remittances contributed to 22 per cent of the country’s GDP in 2011.