eSewa Money Transfer partners with Ria to offer mobile wallet enabled cross border remittance service; remittance flow from 160 plus nations to Nepal becoming more convenient
Ria Money Transfer, a global leader in the money transfer industry and subsidiary of Euronet Worldwide Inc. (NASDAQ:EEFT) has announced an agreement with eSewa Money Transfer, one of the emerging remittance companies of Nepal and a subsidiary of F1soft International. This agreement allows the Nepalese migrant population to send money from 475,000Ria locations in 160countries around the globe directly into the beneficiary's eSewa mobile wallet in Nepal.
The partnership accentuates Ria’s concerted effort and intent in expanding its digital payout capabilities around the world and also validates the growing importance of digital remittance service in “receive” countries like Nepal where the digital payment ecosystem is building at a rapid pace. Ria will now have access to 4.2 million mobile wallet holders of eSewa, Nepal’s first and leading digital wallet service provider.
Mr. Shawn Fielder, Global CEO of Ria Money Transfer shared, “We are excited to be partnering with eSewa Money Transfer in Nepal that brings unique opportunities in the region and enables us to continue our commitment to support migrant communities with accessible, convenient, and affordable choice of money transfer service.”
The collaboration recognizes Nepal as one of the emerging markets for fintech-based remittance services where digital remittance can play an important role in overcoming the challenges of last-mile delivery in a country with complex geography and 30 million population having to rely heavily on traditional brick and mortar based modes of money transfer. Mr. Biswas Dhakal, President of F1soft Group said, “ Partnering with Ria, a global leader in cross-border remittance is one of the biggest milestones in our journey towards building a sustainable digital payment ecosystem in Nepal that started in 2009. We eagerly look forward to not only providing alternative payment solutions and driving greater access to financial services but also working towards reducing the cost of moving money for the Nepalese around the world.”
