MoneyGram and e-Sewa Money Transfer will cooperate to expand remittance services

KATHMANDU: WEDNESDAY, APRIL 21, 2021 – MoneyGram International and e-Sewa Money Transfer have agreed to expand remittance services.

The two companies have announced a partnership for cross-border PTP payments and remittances in Nepal. It is believed that the collaboration between F1Soft Group’s subsidiary e-Sewa Money Transfer and MoneyGram, an emerging remittance company in Nepal, will further facilitate the flow of remittance services.

Under this collaboration, MoneyGram customers will be able to send money directly to their friends and family’s bank account or e-Sewa wallet. The company said that the account deposit service has already started and e-Sewa Wallet is also preparing to start.

The company has stated that the account deposit service linked to more than 65 banks can deposit money in all bank accounts in Nepal. Among the more than 4.2 million registered e-service wallet users in Nepal, the upcoming e-service wallet service is said to be suitable for the inbound remittance flow of Nepal.

According to the World Bank, Nepal has the highest number of remittances in the world. In 2019, remittances amounted to US $8.25 billion.

With the cooperation between these two remittance service providers, Nepali immigrants in the United States, South Korea, Australia, Middle Eastern countries, European countries and other countries will be able to transfer money easily from all over the world through the partnership of MoneyGram and e-Sewa.

It is said that this service, which is full of simple receiver details to send money, will save the hassle of both the sender and the receiver.