Moneygram brings banking to the height of heights, literally

MoneyGram International, through its super agent partner Samsara Pvt Ltd, has opened two new agents' locations in Nepal at the base of the Himalayas near Mount Everest. One location will operate at an altitude of 17,600 feet above sea level, making it the highest agent location in the world and the other at Namche Bazar (3440 metres). According to Money Gram International South Asia regional director Harsh Lambah, South Asia is a key growth market for MoneyGram.

In India alone this year, MoneyGram has added more than 6000 agent locations.

"The company remains focused on adding more locations throughout the region to meet the vast growing remittance needs of people," said Lambah adding,"We understand the importance of it and in this part of the world means expanding our services into some of the most remote regions."

The two new agent's locations will instantly introduce MoneyGram services to some of the most rural parts of Nepal. For both residents of the region and tourists in the area in need of money transfer services, these new locations will save them a trek of three days or more that they would ordinarily have to make to receive transactions. One of the new agents, Holiday Inn-Gorak Shep is located near a small glacial lake that served as the original base camp for Mt Everest expeditions and today is a major tourist attraction. This agent location is located at approximately 17,600 feet above sea level. The other new agent location, Holiday Inn-Namche Bazaar, is located at Namche Bazaar, which is the main trading village in Khumbu, one of the three sub-regions of the main Sherpa settlements in the Himalayas. Lambah said despite the remoteness of these locations, this region of Nepal supports a vibrant tourist trade. "By establishing money transfer services in the region, we are bringing an unprecedented level access to money and convenience that's beyond the ability of traditional banks to provide while helping to stimulate the local economy."

Samsara, a Kathmandu-based remittance company became a MoneyGram super-agent in May this year.