Banking News – Nepal’s leading payment service provider, eSewa, has launched the Buy Now, Pay Later (BNPL) service for the first time in Nepal’s digital wallet sector. Under this service, customers can now purchase Garo brand electric scooters through the eSewa platform.

In this regard, a tripartite partnership agreement was signed between eSewa, Reliance Finance Limited, and electric scooter seller company Parimita Investment Pvt. Ltd. at a program organized at eSewa’s central office on Ashoj 8. The partnership agreement was signed by Jagadish Khadka, Immediate Past Chief Executive Officer of eSewa, Ramhari Acharya, Deputy Chief Executive Officer of Reliance Finance, and Manan Tuladhar on behalf of Parimita Investment Pvt. Ltd.

Under this partnership, customers can avail BNPL facility through the eSewa platform for purchasing Parimita’s electric scooters. Reliance Finance will provide loans as a financial partner under this facility, while Parimita will provide the electric scooters.

Easy Digital Process Along with Installment Facility

Under this service, customers can obtain financial facilities for purchasing electric scooters through an easy and digital medium. Customers can complete the entire process through the eSewa app and avail the BNPL facility.

Under this, Reliance Finance will provide digital loans of up to Rs 2 lakh at an interest rate of 9.99 percent for customers to purchase electric scooters. Customers can repay the loan in easy installments of up to 36 months. This will make it easier for customers to avoid having to pay a large amount at once and provide the option to pay in installments as needed.

Promoting Digital Financial Services and Electric Transportation

eSewa has been developing various innovative solutions to fulfill customers’ daily needs by making access to financial services easier through digital technology. eSewa has stated that the BNPL service is a continuation of this effort to provide financial services to customers through digital means.

Similarly, this partnership, which makes purchasing electric scooters easier, is expected to promote the use of environment-friendly transportation as well. It is believed that this partnership will contribute to reducing pollution through the use of electric vehicles, promoting sustainable transportation, and building a digital economy.

This tripartite partnership is believed to further expand collaboration between the digital payment, financial services, and electric transportation sectors, supporting the development of new customer-friendly services. eSewa has expressed its commitment to continuing to expand innovative digital solutions in the days ahead, keeping in mind customer needs and changing lifestyles.