Kathmandu, August 15: eSewa Fonepay Pvt. Ltd signed an official agreement with UKaidSakchyam – Access to Finance Programme (Sakchyam) for a partnership to design, develop and launch Cash Points. The partnership was officially announced by signing and exchanging agreement certificates between Subhas Sapkota, Chief Executive Officer, eSewa Fonepay Pvt. Ltd., and Mr. Nirmal Dahal, Team Leader of UKaidSakchyam.
The Cash Points established under the partnership will provide financial services to 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.
During the event, Sapkota, said, “We will 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. “
Sakchyam Access to Finance is an UKaid-funded program as a part of an agreement between the Governments of Nepal and the UK. It is 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 two million customers, 55,000 agents, 54 banks and 30,000 merchants and is licensed by Nepal Rastra Bank as a Payment Service Provider (PSP).