eSewa money transfer partners with Singapore-based Lulu Money

KATHMANDU: eSewa Money Transfer, a digital-first remittance company under F1soft Group, which has been providing remittance services to Nepal from more than 200 countries across the world has entered into an agreement with Lulu Money, a leading remittance company based in Singapore.

Amid a special ceremony, the agreement was officially signed by Mr Daniel D Shrestha, Group Strategy Director of F1Soft Group and Director of eSewa Money Transfer on behalf of eSewa Money Transfer and Mr Richard M Wason, CEO of LuLu Financial Holdings, on behalf of Lulu Money.

This partnership between eSewa Money Transfer and LuLu Money aims to enhance the accessibility and efficiency of remittance services. Through this agreement, Lulu Money will be leveraging the extensive network of the Esewa ecosystem in Nepal.

With this, Nepalese working abroad can send remittances to Nepal by reaching out to physical locations across various source countries of Lulu Money. In addition to that, the senders can also use digital mediums i.e., websites and mobile apps of Lulu Money to send remittances to Nepal.

This partnership will build upon existing capabilities to smoothen money transfer for numerous Nepali ex-pats living outside Nepal while setting the groundwork for the subsequent incorporation of this service in various other parts of the world where Lulu Money have a presence.

Meanwhile, the beneficiaries in Nepal can receive remittances from more than 13,800+ dedicated remit agents, 100,000+ cash pick-up enabled wallet agent locations of eSewa Money Transfer, major banks, and financial institutions, along with their branches and directly in beneficiaries’ eSewa wallet.

The senders can send remittances directly to any bank account or eSewa wallet from Lulu money. The beneficiaries can also receive Rs. 77 instant bonus upon receiving remittance in their eSewa wallet.

Speaking during the occasion, the CEO of eSewa Money Transfer, Mr Ajesh Koirala said, “We are delighted to partner with Lulu Money as our new remittance partner. With this agreement, we hope to connect more Nepalese ex-pats working abroad to their families in Nepal and promote digital and formal remittance channels”. Expressing her delight in the partnership, Ms Patricia Chua, Executive Director of Lulu Money Singapore, mentioned, “ We are delighted to partner with eSewa Money Transfer and enable the remittance services in Nepal through the well-established fintech ecosystem of F1 Soft Group”