MoneyGram Announces Partnership with eSewa Money Transfer

KATHMANDU: March 22, 2021 – MoneyGram International, Inc., a global leader in cross- border P2P payments and money transfers, today announced a partnership with F1Soft Group’s subsidiary, eSewa Money Transfer Pvt. Ltd., one of Nepal’s fast emerging “digital first” remittance companies. The partnership will enable MoneyGram customers around the
globe to send money to family and friends in Nepal directly into the beneficiary’s bank account eSewa wallet. While the account deposit service has been launched, the service to eSewa wallet is expected to be launched shortly.

With connectivity to more than 65 banks, including all major banks, the account deposit service can deliver funds to bank accounts held with most banks across Nepal. With over 4.2 million registered eSewa wallet users in Nepal, the upcoming service to eSewa wallet will be a huge milestone in Nepal inbound remittances. Nepal is one of the highest recipients of remittances in the world and is estimated to have received 8.25 billion USD in remittances in 2019 as per the World Bank. “We’re excited about how this partnership builds on our network expansion and further accelerates digital growth as we expand our customer-centric capabilities,” said Naved Ashraf, Head of India and South Asia at MoneyGram. “eSewa is known throughout Nepal as a pioneer in digitizing financial services, and we’re proud to be a partner with them and provide millions of non-resident Nepalese convenient options to send money and their beneficiaries
to receive money.”

Through this partnership, MoneyGram and eSewa Money Transfer are enabling customers to easily transfer money from around the globe, especially where there are large numbers of Nepalese immigrants, such as the United States, South Korea, Australia, countries across Europe and more. With simple receiver details required to send money, this service also ensures a hassle-free experience for remitters and receivers. “We are very excited about our new collaboration with MoneyGram,” said Mr. Ajesh Koirala, Managing Director of eSewa Money Transfer. “Teaming up with MoneyGram will help us strengthen our position as the most reliable and competitive choice for international money transfers to Nepal and enable us to reach a wider group of Nepalese migrants spread across the globe. MoneyGram is a prodigious partner, and this partnership exemplifies our commitment towards digitizing the cross-border remittance.”

About MoneyGram International, Inc.
MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with more than 90 countries now digitally enabled. MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve millions of people each year through both its walk-in business and its direct-to-consumer digital business.

With a strong culture of innovation and a relentless focus on utilizing technology to deliver the world’s best customer experience, MoneyGram is leading the evolution of digital P2P payments.

For more information, please visit www.MoneyGram.com and follow @MoneyGram.

About eSewa Money Transfer
Esewa Money Transfer is one of the fastest growing remittance companies of Nepal that offers a blended model of world-class remittance services to Nepalese around the world. Our service offerings are comprised of traditional agent-based remittance services with 8,000+ strong agent network coupled with a host of non-traditional, digital mode of transfers with access to 4.2 million+ eSewa mobile wallet users and bank accounts of more than 65 different banks where sending and receiving money is as easy as giving a few taps on a mobile phone. Incorporated in the year 2019 and licensed by Nepal Rastra Bank under foreign exchange regulation, eSewa Money Transfer is a part of F1Soft Group that has been empowering more than 11 million population and 100,000 entities across the country through
innovative fintech based payment services.

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