With this partnership, Reliance’s customers across Nepal can now make their payment through Khalti easily and conveniently. Customers can pay their premium using the fund in their Khalti wallet or directly through e-banking and mobile banking options available in Khalti’s platform.
Speaking about the partnership, Pravin Raman Parajuli, CEO of Reliance Life Insurance Ltd. shared, “In addition to benefiting the customers, going digital will benefit the insurance industry as well since it will help in keeping track of premium payers and make it easier to track irregularities.”
Similarly, speaking about expanding its digital payments portfolio to life insurance payments, Khalti’s MD Manish Modi said,” This is an easy way to pay insurance premiums conveniently without any hassle. Now, we feel we have headed one step closer to making transactions digital in Nepal.”
As per the latest statistics of the Nepal Rastra Bank, more than 7 million people use mobile banking in Nepal, and almost 900 thousand people use internet banking. Similarly, as per the latest MIS report of Nepal Telecommunication Authority, 64% of Nepal’s population has access to fast speed broadband internet. In this scenario, introducing digital payment for life insurance holds a lot of significance.