Valyou which claims to be Malaysia’s first wallet-to-wallet remittance service provider has announced a partnership with Nepal’s eSewa which enables the first Malaysia to Nepal eWallet remittance service. Nepalese residing in Malaysia can now instantly and directly send money to an eSewa wallet or into any Nepali bank account via Valyou.
As an introductory promo, Valyou is offering RM0 sending fee for international remittance service to an eSewa eWallet in Nepal via Valyou branches, international remittance agents and through the Valyou mobile wallet app.
According to Valyou Sdn Bhd CEO Prasanna Rao, they are on a mission to empower migrant workers by promoting greater financial inclusion through convenient and simple digital remittance services. By partnering with eSewa, Valyou can expand its digital financial services to serve the underbanked and unbanked Nepalese residing in Malaysia.
He added that Malaysia is home to nearly 300,000 Nepalese who largely work in the manufacturing and the security services sector. With this partnership, they are able to provide them with a convenient and peace of mind method of sending their hard-earned money instantly and securely to their loved ones back home.
It was shared that eSewa is the largest eWallet with over 3.2 million users. eSewa users can also cash out the money sent from Malaysia in any of its 6,000 over cash payout merchants or via interbank payment to more than 50 banks through the eWallet. The eSewa wallet can also be used to make payments for major utility bills covering electricity, water, internet in Nepal as well as over 2,000 billers which include school fees, insurance, credit card bills, air tickets, online grocery, restaurants and games. The Nepalese platform also boasts 130,000 scan to pay merchants.
Apart from eSewa, Valyou has also established other wallet-to-wallet remittance services which include Easypaisa in Pakistan, Bkash and Rocket in Bangladesh and Wing in Cambodia. In July last year, Valyou has also collaborated with Western Union which enables remittance across Bangladesh, Indonesia, Philippines, India, Vietnam, Myanmar, Cambodia, China and Nigeria through the Valyou mobile wallet.
Valyou is a financial technology subsidiary under the Telenor Group and they are an eMoney issuer approved by Bank Negara Malaysia. Vcash, which was one of Malaysia’s first eWallets was introduced by Digi in partnership with Valyou back in 2017 but the service was discontinued in late 2019.
For more info, you can visit Valyou’s website.