Nepal Payment Solution Pvt. Ltd. collaborated with The City Express Money Transfer to unveil a platform for remittance wallet transfer. Pratap Shrestha, Chief Experience Officer (CXO) of Nepal Payment Solution and Shyam Lamichhane, Chief Business Officer (CBO) of The City Express signed the agreement on behalf of their respective organizations.
This initiative will facilitate electronic remittance transfers from any location, at any time, and to any wallet. This effort aims to provide service in remote areas also with more efficient access to digital remittance and customized financial solutions than physical remittance to the service recipients. Above all, it bridges the gap of traditional or physical remittance with various verification processes. It will ensure that funds are transferred swiftly. Sending and receiving funds is instantaneous with this electronic remittance transfer system, which maximizes the benefits of digital wallet transfers. Trend of using digital wallet to replace cash is growing as it has been the convenient option for all the service recipients. Overall, remittance wallet transfers provide security, convenient time frame and excellent reach for everyone.
With the widespread adoption of remittance wallet transfer technology, remittance companies and bank and financial institutions (BFIs) are preparing to equip their remittance platforms and customers to accept digital remittance payments. Nepal Payment Solution (NPS) is an aggregator focused on BFIs, Remittance Companies and Business Houses. The majority of commercial banks and financial institutions have partnered with Nepal Payment Solution. NPS empowers payment gateway and service providers such as IME Pay, Prabhu Pay, Khalti, Namaste Pay, and other numerous PSPs, as well as remittance companies, in addition to banking partners.