Valyou expands wallet remittance service to Nepal

Telenor Group’s Malaysian financial technology subsidiary Valyou Sdn Bhd has partnered up with eSewa Money Transfer to offer the first Malaysia to Nepal wallet-to-wallet money remittance service.

Valyou CEO Prasanna Rao said it is on a mission to empower migrant workers by promoting greater financial inclusion through convenient and simple digital remittance services.

“We are now able to expand our digital financial services to serve the underbanked and unbanked Nepalese residing here,” he said in a statement today.

Prasanna pointed out that Malaysia is home to nearly 300,000 Nepalese migrants working in the manufacturing and security services sector.

Aside from the remittance service, it also offers instant bank deposit and cash pickup services, with the money received in eSewa’s wallet can be used to makes payments to all major utilities as well as over 2,000 billers from school fees, insurance, online grocery among others.

eSewa managing director Ajesh Koirala opined that the digitisation of the remittance industry has become a much-needed facility in the context of Nepal with the Covid-19 pandemic.

“We are now able to offer Nepalese living here, and in Malaysia money remittance services in an easy and affordable manner, right into their eSewa wallets or bank accounts.

“We have already established a partnership in Malaysia, and in Japan, and hope to expand our services to other countries soon,” said Ajesh.

The partnership marks Valyou’s fifth wallet-to-wallet international remittance service integration.

Source : 

IT Sideways

Malaysia Business

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Prosyscom

The Malaysia Pulse