ONE of the leaders in global payment services, Western Union announced on Tuesday the launch of a mobile money transfer service in association with Nabil Bank and FonePay. FonePay, a leading mobile financial service and e-commerce company in Nepal, providing digital payment and money transfer solutions through mobile phones and internet, will be offering the service through eSewa, a subsidiary company of FonePay which offers customers to receive, pay and send money digitally through their mobile. The service was introduced formally amid a programme in the capital city by Patricia Z. Riingen (Western Union Senior Vice President for East and South Asia), Gregg Marshall (Vice President and Western Union’s Global head of mobile sales and Business Development), Anil Gyawali (Chief Executive Officer of Nabil Bank), Biswas Dhakal (President of F1soft International, the parent company of eSewa and FonePay), Asgar Ali (Chief Executive Officer of FonePay), and veteran actors Madan Krishna Shrestha and Hari Bansha Acharya, the brand ambassadors of Western Union in Nepal. With this, consumers in Nepal subscribing to an eSewa mobile wallet can now choose to receive money sent within minutes from Western Union agent locations and digital channels around the globe using their mobile phones, or through eSewa’s web interface www.esewa.com.np. Western Union’s new offering complements the services offered through its retail agent network of more than 5,600 locations in Nepal. “Western Union continues to expand its mobile footprint as part of our multi-product, multi-channel strategy,” said Patricia Z Riingen, “We are very pleased to expand mobile services to Nepal, and we remain committed to building our mobile network in strategic markets around the world.” Similarly, Dhakal said that the country which has a high dependency on remittance will be largely benefited through the service. “Remittance has evolved as the backbone of the country’s economy with its penetration accounting to around 23 percent in the national economy. Likewise, mobile phone has emerged as a 24 /7 friend of general Nepalese. The link up of mobile phone will definitely bring change in the overall remitting process,” Dhakal said. FonePay CEO Ali informed that the amount received as remit deposited in the bank through the service can make utility payments, shop online, purchase air, bus and movie tickets, airtime values, be transferred to other people and cashed in at remittance agents of eSewa spread across the country. “Apart from service charge of Western Union, there will be no other charges applicable while enjoying all these benefits,” Ali said. Consumers in Nepal subscribing to eSewa can now choose to receive money sent within minutes from Western Union agent locations and digital channels around the globe using their mobile phones
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