Ria Money Transfer, a global leader in the money transfer industry and subsidiary of Euronet Worldwide Inc. (NASDAQ:EEFT) announced an agreement with eSewa Money Transfer, one of the emerging remittance companiesof Nepal and a subsidiary of F1soft International. This agreement allows Nepalese migrant population to send money from 475,000Ria locations in 160countries around the globe directly intobeneficiary’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 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 since 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.’
Ria, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), is a global leader in the money transfer industry. The company is steadfast in its commitment to its clients and their communities, offering fast, secure, and affordable money transfers through a network of over 475,000locations across more than 160countries. Our global infrastructure facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities. At Ria, we open ways for a better everyday life.
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 million+ eSewa mobile wallet users and bank accounts of 54 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.