NIC Asia partners with WorldRemit for digital money transfers to Nepal
WorldRemit customers living in over 50 countries can now send instant money transfers directly from their phones to over 7,000 cash pickup locations in Nepal
Using the WorldRemit app or website, the 2 million strong Nepalese diaspora living in over 50 countries including the United States, the United Kingdom and Australia, can now send money home instantly to over 7,000 cash pickup locations across the country - from Dharan to Kathmandu and from Ghorahi to Dhangadi.
To find your nearest cash pickup location in Nepal, click here.
Transactions to Nepal via WorldRemit are growing by over 160% YoY, driven by the company’s low fees and the expansion of its partner network. WorldRemit offers customers a variety of ways to send money to friends and family in Nepal including bank transfer, cash pickup and airtime top-up.
NIC Asia is one of the largest private commercial banks in Nepal. The bank has over 260 branches across the country, where it serves over 14 million customers.
Remittances play a significant role in Nepal’s economy. According to the World Bank, Nepal received $6.9 billion in remittances in 2017, accounting for nearly 29% of its GDP. The country ranks fifth worldwide in terms of remittance contribution as a percentage of GDP.
Michael Liu, Managing Director for Asia Pacific at WorldRemit comments: “We are delighted to partner with NIC Asia, a leading commercial bank in Nepal, for instant money transfers to over 7,000 cash pickup locations.
“The money that non-resident Nepalis send home makes a vital contribution to their families and the country’s economy. Our partnership with NIC Asia considerably expands our cash pickup network in urban and rural areas of Nepal, taking our total number of locations to over 7,000.”
Roshan Kumar Neupane, Chief Executive Officer at NIC Asia, said: “We are equally glad to associate with WorldRemit, a trusted, faster, easier and low cost money transfer company. The partnership will allow Nepalese people to receive remittances easily from more than 50 countries, and will eventually help in bringing a positive change to their lives.”