An image of a scene in Kathmandu, Nepal

NIC Asia partners with WorldRemit for digital money transfers to Nepal

9/1/2019 | 2 minute read

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

Kathmandu and London, 9 January 2019: Leading digital money transfer service WorldRemit has joined forces with NIC Asia Bank for digital money transfers to 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.”

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About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.

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