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Focus Briefs (30 September - 3 October 2013)

  2 min 56 sec to read

Western Union Extends Mobile Money Transfer Service to Nepal
The Western Union Company has unveiled the launch of a mobile money transfer service that enables consumers to send money to a mobile wallet in Nepal. The mobile money transfer service to Nepal integrates with eSewa, a digital wallet platform in Nepal with approximately 200,000 registered users. The functionality has been developed through the partnership of Western Union, its Agent Nabil Bank and FonePay, the owner of eSewa. Consumers in Nepal who subscribe to the eSewa mobile wallet are able to receive a Western Union Money Transfer transaction on their mobile phones or through eSewa's web interface. International money transfers for mobile pick-up can be initiated at westernunion.com in 23 countries or at participating Western Union Agent locations worldwide. Nabil Bank, a joint venture financial institution of Nepal, was founded in July 1984. Nabil Bank is equipped with ATMs, credit cards, Internet and Mobile Banking and uses Core Banking System from Infosys Technologies System, Bangalore India. FonePay is a mobile financial service and e-commerce company in Nepal. It specializes in providing digital payment and money transfer services via mobile and/or the Internet. eSewa is a digital payment portal in Nepal, developed by F1 Soft International and owned by FonePay, that enables financial transactions via web-based or mobile-based services.
 
eSewa Launches eSewaZone
Online payment gateway eSewa has launched eSewaZone to make the access of eSewa services easier to customers. According to the company, this new service allows customers to use eSewa services even if they do not have a bank account. eSewa is the first company in Nepal to allow its clients use online services like sending and receiving money, telephone bill payment including recharge cards for post-paid and pre-paid, ADSL bill payment, utility bill payments, airline ticket purchases, school and college fee payments, payment for movie hall tickets, shopping, restaurant bill payments, and topping up credit cards.  “Earlier, people need to have accounts at our partner banks to use eSewa services. With the launch of eSewaZone, customers can use our services even if they don´t have bank account,” said Asgar Ali, CEO of Fonepay that operates eSewaZone. Ali said the company has formed a network of three super agents in Kathmandu and 100 agents throughout Nepal. “We will be having 10 super agents in Kathmandu and 1,000 agents throughout the country with a minimum of three agents in each district within 2 months,” said Ali.
 
SBI Introduced “Express Remit”
Nepal SBI Bank Limited, jointly with State Bank of India, has introduced a robust Electronic Fund transfer Mechanism (EFT) namely "SBI-Nepal Express Remit" to provide a faster and convenient mode of remittance facility for Nepali migrants in India by disbursing cash for such remittances to beneficiaries residing all across Nepal through Electronic Fund Transfer Mechanism (EFT). According to officials at SBI, this service can be availed for all branches of the State Bank of India.

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