eSewa Launches 'Buy Now, Pay Later' Service, Enabling Electric Scooter Purchase in Installments
Nepal's leading payment provider eSewa has launched the first 'Buy Now, Pay Later' (BNPL) service in the country's digital wallet sector. Under this service, customers can purchase GYARO brand electric scooters through the eSewa platform in installments.
Kathmandu. eSewa, Nepal's leading payment provider, has launched the first 'Buy Now, Pay Later' (BNPL) service in Nepal's digital wallet sector. Under this service, customers can now purchase GYARO brand electric scooters through the eSewa platform.
In this regard, a tripartite partnership agreement was signed at a ceremony held at eSewa's central office between eSewa, Reliance Finance Limited, and electric scooter seller Parimita Investment Pvt. Ltd. The agreement was signed by eSewa's outgoing Chief Executive Officer Jagdish Khadka, Reliance Finance's Deputy Chief Executive Officer Ramhari Acharya, and Manan Tuladhar on behalf of Parimita Investment Pvt. Ltd.
Under this partnership, customers can avail BNPL facility through the eSewa platform to purchase Parimita's electric scooters. Reliance Finance will provide loans as a financial partner under this facility, while Parimita will supply the electric scooters.
Easy Digital Process with Installment Facility
Under this service, customers can obtain financial facilities through a simple and digital medium for purchasing electric scooters. 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 NPR 200,000 at an interest rate of 9.99 percent for purchasing electric scooters. Customers can repay the loan in easy installments of up to 36 months. This will ease the situation of customers having to pay a large sum at once and provide the option to pay in installments as per need.
Promoting Digital Financial Services and Electric Transportation
eSewa has been developing various innovative solutions to fulfill customers' daily needs by making financial services more accessible through digital technology. eSewa states that the BNPL service is also a continuation of this effort to provide financial services to customers through digital means.
Similarly, this partnership, which facilitates the purchase of electric scooters, is expected to encourage the use of environmentally friendly transportation. 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.
It is believed that this tripartite partnership will further expand cooperation between the digital payment, financial services, and electric transportation sectors, and support the development of new customer-friendly services. eSewa has expressed its commitment to continuing to expand innovative digital solutions in the future, keeping in mind customer needs and changing lifestyles.