IME introduces first ever remittance card service in Nepal

IME Ltd. has introduced first ever co-branded remittance card service in Nepal with the name of IME Remit Card for its customers in Nepal in association with VISA and Global IME Bank. IME Remit card has been introduced following the approval by Nepal Rastra Bank to launch the card service in association with a banking institution.

IME Remit card is a remittance card product that offers customers with the option to load the remittance amount in the card, sent through IME Agent network abroad and within Nepal and can be used by the beneficiary for cash withdrawals from ATMs, do transactions at points of sale. The card based on a beneficiary/recipient card model with separate PINs, will be a rupee denominated card on which remitter from outside Nepal can load money into the card or beneficiary in Nepal can reload full or partial amount of remittance received in to the card from designated IME agent outlets or Point-of-Sale locations.

After formally introducing the service, IME Chairman Mr. Chandra Prasad Dhakal stated “We expect this remittance card to be one promising product that can be used to serve unbanked and under-banked consumers of Nepal.” Apparently, there is a large segment of the unbanked, under-banked population that receives remittance services in Nepal, usually at non-bank locations. Remittance card will be helpful for them to keep their received remittance more securely.

Initially IME Remit Card will be available at select IME Centers – IME’s exclusive franchise outlets from where customers can get the cards after duly filling up the specified KYC form. Plans are afoot to make the cards available at all 100 plus IME Centers across the country.