eSewa, UK Aid Sakchyam agree to work jointly

Kathmandu, Aug 14

eSewa Fonepay Pvt. Ltd signed an official agreement with UK Aid Sakchyam - Access to Finance Programme for a partnership to design, develop and launch Cash Points – digital channels of financial service.

Subhas Sapkota, Chief Executive Officer, eSewa Fonepay and Nirmal Dahal, Team Leader of UK Aid Sakchyam signed the agreement on behalf of their respective organisations.

The Cash Points established under the partnership will provide financial services to the rural consumers through digital channels.

"The objectives of this project are to expand access to financial services and promote greater use of innovative digital financial services among populations who have none or inadequate access to full-fledged financial services," said Sapkota.

He said that the company would establish eSewa Cash Point platform which could provide efficient financial solutions to unserved and underserved customer segments in rural areas and provide a convenient digital financial service that can overcome high transaction costs and increase financial penetration rates.

Dahal said that Sakchyam was supporting the bank and financial institutions and microfinance institutions in enhancing access to finance and technology transfer.

Sakchyam Access to Finance is an UK Aid-funded programme being implemented by Louis Berger for DFID Nepal, in partnership with local and international institutions.

eSewa is Nepal's first payment gateway company having a network of over 2 million customers, 55,000 agents, 54 banks and 30,000 merchants and is licensed by Nepal Rastra Bank as a Payment Service Provider (PSP).

Published in The Rising Nepal daily on 15 August 2019.