Innovation to Impact: Launch of IME Journey Book

14 June, 2018

Original source: UNCDF

In July of 2017, IME became the first ever non-bank payment service provider to receive the license to operate from Nepal Rastra Bank. The name IME is synonymous to ‘remittance’ in Nepal. Ever since the company’s inception in 2001, it has managed to cater to Nepalese residing in Nepal and outside Nepal to send and receive money instantly. By withholding this very concept of easy and instant access to finance, IME has ventured into the world of digital finance to expand this vision of financial inclusion for all through their new venture ‒ IME Pay.

IME has a total of 7000 remittance agents spread across challenging geographic terrain of Nepal. With this mobile money platform, the company aims to offer financial services by leveraging their existing agent network as well as forging partnerships to further build a stronger agent network that has the potential to reach 80% of the population residing in rural areas. We went on various filed visits and met with numerous agents championing mobile money and clients who are the ultimate beneficiaries of this service. The impact that digital finance has brought to their lives has served as the ultimate motivation towards developing this book and the video.

Though its MM4P programme, UNCDF has been providing grant and technical assistance to IME since 2015 in developing the IME Pay platform. The 'IME Journey Book: From Innovation to Impact' aims to capture the journey of IME from being a remittance company to a digital financial service provider. The book and complementing video showcase the opportunities and challenges that exists in a market that is in the cusp of digital finance evolution.

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