MNepal Pvt Ltd has
formally launched a project to bring mobile financial services platform to
Nepal.
The company will provide
a shared and fully managed mobile financial services ecosystem that will enable
member banks and financial institutions to launch mobile based customised
services and products, according to chairperson of the company Sanjib Raj
Bhandari.
"MNepal has
selected the Fundamo platform powered by VISA International to implement its
mobile financial services in Nepal," he said, adding that VISA is a
globally recognised brand and a proven market leader in global mobile money
installations.
It will provide a range
of product categories like mobile banking, mobile-wallet, mobile commerce,
mobile remittance and mobile payment, he added. "In addition to the
managed platform, MNepal will also provide technical assistance to banks and
financial institutions regarding mobile financial services."
"International
Finance Corporation (IFC), the private sector arm of the World Bank Group has
agreed to extend cooperation to MNepal in developing products, business model,
agent framework and risk management," said chief executive of MNepal
Prabin Raj Pokharel.
He mentioned that IFC's
cooperation will equip MNepal with all the tools required to enter this new
market with a high potential.
A cooperation agreement
was signed between IFC and MNepal recently.
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International — one of the finalists of the 2012 Red Herring Top 100 Asia Award
— FonePay earlier, introduced mobile payment switching that facilitates
customers of any bank and even the unbanked customers to pay nationally at
present and further expanding to international later.
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