eServGlobal, a mobile financial services provider, has partnered with MNepal, a consortium of bank and non banking firms, to deliver a mobile financial service solution in the country.
Under the terms of the agreement, both companies will provide a shared technology platform which can be accessed by all banks and financial institutions in the country, thereby enabling them to extend mobile financial services to their users.
Go deeper with GlobalData
Operating as a common brand mobile financial service, the new offering will enable multiple banks and financial institutions to join as members.
eServGlobal, managing director and CEO Paolo Montessori said, "MNepal are an exciting company focused on finding new and dynamic ways to extend valuable services to the people of Nepal."
"This project represents an opportunity to bring some coherence to the mobile finance market in Nepal.
"Offering a neutral, agnostic and interoperable mobile money platform which can be accessed by all, will open the possibilities of mobile money to the whole country," Montessori added.
Apart from delivering a complete assortment of mobile money services, the new service will also provide users with mobile-centric microfinance services, including as loans, savings and insurance complemented by loyalty and segmentation features.
