Khalti has tied up with NIC Asia and Bhatbhateni to provide digital payment and remittance services to its customers. Now NIC Asia customers can have more features through the Khalti platform. This adds a new banking institution in the Khalti’s list. On top of that, it also adds new value to the bank’s service. Khalti also signed an agreement with the Bhatbhateni group to provide domestic remittance service. All of these agreements were signed within one week. This shows the growth of online payment services in Nepal.
The development in eCommerce and digital payment is happening rapidly. New companies are rising and the more companies are making ties. The collaboration is helping to increase and improve customer-oriented services. Amidst all of these, Khalti partners with NIC Asia Bank and Bhatbhateni Money Transfer in a small timeline. These collaborations add value to their respective platforms. It also adds features to the users. Most importantly users are getting the benefit. The companies are also improving their portfolio.
We have a list of best online digital wallets in Nepal and Khalti ranks very high on that. Within a small time frame, they have done very well. The banks, financial institutions, and service lists are rapidly increasing. These new services also make their list larger. Online payment and eCommerce are a growing future. A cashless economy is a future that every government and country is aiming for. And digital online wallets companies are the basic pillars of that.
NIC Asia Partnership for digital payment
Khalti signed an agreement with the bank to provide services to the bank’s customers. In order to use a wallet’s service, one must have a bank account or wallet balance. There are options to load money using online banking, app, SMS banking, card or ConnectIPS. From now on users of Khalti can directly load money and enjoy service using NIC Asia’s app. They can use internet banking as well. There are many ways to enjoy the facilities. We can use Connect IPS too which is very good. It needs to improve which is a whole new topic.
These days customers of one bank have options to use a multitude of mobile wallets. This new partnership adds more facilities to customers of both institutions. Actually both of these companies are growing rapidly. In three years Khalti has made many agreements and added a lot of facilities. The number of partner banks in their network is also very large. NIC Asia also has a huge number of branches and ATM.
Bhatbhateni Money Transfer for remittance
The word “remittance” is very important for Nepal. A big chunk of the country’s GDP depends on money coming from outside. Most of the Nepali’s living outside the country send money to relatives here. However, we also have internal remittance. People send money from one place to another place inside Nepal also. Actually we have many ways of doing that. The direct and best ways are through the use of banking channels.
Internet banking service helps to transfer money from one account to another. But that is limited inside one organization. For interbank transfer, we have Connect IPS and online wallets. But we can’t use digital every time. Because sometimes we also need cash in hand. That is where remittance companies like BMT come to play. Now there is one special icon in the Khalti mobile app and website of remittance.
This allows Khalti users to send money to agents around the country where a designated person can receive it in cash. There are around 2500 BMT agents around the country. First, a user selects payout type, location and amount. After sending money, a PIN is generated and sent to the receiver through SMS. The recipient needs to show the PIN to an agent for collecting the money. KYC is a must for the sender in this process. So it is better to do KYC of all your wallets.