Sunday, July 14, 2024
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The Trend-setter eSewa: Nepal’s First Digital Wallet

Since the introduction of its beta version in 2009, the trend-setter eSewa, Nepal’s first digital wallet, has come a long way. On January 25, 2010, the application officially debuted its full-fledged service. Since then, it has been important in shaping Nepal’s cashless economy. ESewa has established itself as the country’s premier e-wallet during the last 13 years. In Nepal, it has become synonymous with digital wallet services. eSewa, a Payment Service Provider licensed by Nepal Rastra Bank, provides various payment options. Customers may easily make payments, transfer and receive money using a mobile app or web browser. It has evolved into the go-to solution for a variety of online transactions.

Utility bills, internet payments, food and hospitality services, credit cards, insurance, and EMI payments are among them. As we dive into the success story of the trend-setter eSewa, join us for a brief tour of Nepal’s pioneering first digital wallet gateway.

Founder of eSewa

When Biswas Dhakal launched his adventure to establish a software company in 2004, he had no idea how successful it would become. His Financial Technology firm, F1Soft, is now Nepal’s biggest tax-paying IT company. F1Soft’s breakthrough product, eSewa, is a revolutionary mobile payment system. The system earned the trust and use of over 40 major banks and financial institutions in Nepal. However, Dhakal’s path to victory was far from easy. This tech-savvy visionary from Janakpur’s plains boldly chose to drop out of college.  He was dissatisfied with the lack of enthusiasm in his chosen fields of study.

He quit his hardware-focused schooling at Kantipur Engineering College to study software engineering in the United States, only to have his hopes shattered by a denied student visa. Despite this, Dhakal showed outstanding courage and returned stronger than ever. He enrolled in the Nepal College of Information Technology to pursue his dream. Even as a student, he launched a company in 2004 specializing in hosting and website creation. At the time, he imagined a cashless Nepal, similar to the innovative notion of PayPal but suited for mobile banking.

esewa nepal

Dream and Vision of eSewa 

eSewa, an icon in the digital payment sector in Nepal, is driven by an unwavering objective. eSewa aims to provide businesses, associations, and individuals with a safe, integrated, and complete payment process. To assist customers, banks, and merchants while maintaining excellent customer service. Further, to meet risk management requirements, eSewa wants to go above and beyond. ESewa is committed to changing the payment landscape and creating a trustworthy ecosystem, focusing on customer satisfaction.

eSewa’s bold objective is to build a cashless economy that includes all areas of the payment business, regardless of size, retail or wholesale, and public or private nature. They aspire to provide high-quality financial services that meet their customers’ needs. eSewa strives to be the chosen service provider in the country by providing unparalleled ease and dependability. Their goal is to drive the desire to create the future of payments and a commitment to excellence and innovation. eSewa is ready to lead Nepal into a new era of smooth digital transactions, guided by its mission and vision. Their commitment to providing secure and efficient payment alternatives promises a future of financial empowerment and convenience. 

Conclusion

To summarize, eSewa and its parent company F1Soft have greatly impacted Nepal’s financial scene. They have successfully set themselves as the country’s premier service provider. The astonishing number of users, which has surpassed 7 million, demonstrates the widespread adoption of digital payment options made possible by eSewa. The F1Soft platform processes an astounding 600,000 mobile banking transactions daily as witnesses to their transformational power. The constant pursuit of a cashless world by eSewa revolutionizes financial transactions. With their constant commitment to innovation and client pleasure, eSewa lays the groundwork for a future in which a cashless economy is standard.

Luzon Technologies

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