Nepalese Migrant Workers In Malaysia Can Now Leverage Valyou to Transfer Money Back Home

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Date : 10-Jul-2020
Location: Kuala Lumpur

Organization:
  • Valyou,Malaysian financial technology subsidiary of Telenor Group licensed and regulated as a money services business (MSB) and approved to issue e-money by Bank Negara Malaysia.
  • eSewa Money Transfer,a remittance company owned by F1soft Group, parent company of some of Nepal’s pioneering digital payment products like eSewa and Fonepay.
Key Takeaways:

Valyou partners eSewa Money Transfer to launch the very first Malaysia to Nepal wallet-to-wallet money remittance service.

Offering:
  • Nepalese in Malaysia can now instantly and directly send money into the eSewa wallet in Nepal at a RM0 fee or any Nepali bank account.
  • Valyou users can Cash In to their e-Wallet accounts while eSewa wallet users can Cash Out the amount sent in any of the 6,000+ Cash Payout Merchants or transfer the amounts via interbank payment to more than 50 banks in the eSewa wallet.
  • “Instant Bank Deposit” and “Cash Pickup” services are also available
  • Money received in eSewa wallet can be used to make payment to all major utilities like NTC & Ncell top up, DTH, Electricity, Water, Internet; over 2,000 billers such as school fees, insurance, credit card bills, air ticket, major online grocery food items, restaurants, movie, games and 130,000 scan to pay merchants and much more.
Spokepersons:
  • Prasanna Rao, Chief Executive Office, Valyou Sdn Bhd,said the offering serves the underbanked and unbanked Nepalese (300,000 Nepalese who largely work in the manufacturing and the security services sectors) residing in Malaysia with greater financial inclusion.
    • look forward to more strategic partnerships
  • Ajesh Koirala, Managing Director of eSewa Money Transfer,said,the offering helps with digitisation of the remittance industry admist the COVID-19 pandemic.
Insights:
  • Valyou is a leader in the International Remittance Mobile Wallet space with a large network of over 1,000 Cash In Cash Out merchants across Malaysia and eSewa is Nepal’s largest e-Wallet with over 3.2 million users.
  • eSewa is Valyou’s fifth wallet-to-wallet international remittance service integration. In 2017, Valyou pioneered wallet-to-wallet transfer through a collaboration with Easypaisa, enabling Pakistanis in Malaysia to send money back home. While in 2018, popular Bangladeshi wallets Bkash and Rocket, and Cambodian wallet Wing were added to the Valyou list of partners.
Kathmandu

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