IME helping Financial Inclusion in Nepal.
Fueling Rural Entrepreneurship
With adequate training, our partner networks are well known in the community as leading financial advisors.
On the business front, the portfolio being offered to them has helped them to generate sustainable revenue to live a healthy lifestyle. This revenue generated through IME’s business is fueling investment in other sectors by our agents which is helping them become more financially independent.
Helping financial inclusion
IME with its well established network & tailored made services including money transfer, utility bill payments, merchant payments, saving account, bank account deposit, insurance and others are helping the rural population have access to convenient, safe & affordable financial service.
High mobile penetration is helping to serve unbanked population using their phones to access MFS services and perform financial transactions.
Service consumption by targeted groups is being made via SMS, NFC Cards, Mobile App or simply by visiting nearest agent point.
Micro payments & saving product is increasing interest among the users and with sustained usages it is helping them bring their financial transactions into records, which will in future serve as a basis for lending money.
Serving the Unbanked
According to the Global Findex Database 2017, 1.7 million people in the world are unbanked, which also includes 55% of Nepal’s total population.
The majority of low income population not joining the main stream financial system is mainly due to
- Core Banking regulatory requirements which entails numerous document evidence
- Lack of financial literacy and financial product not tailored to serve the low income household
- Unavailability of financial institution close to home
- To make banking easier and accessible, IME Fintech Ecosystem strives to serve these masses and gradually upgrade them to the core financial ecosystem.
- Increasing penetration of mobile phones which makes it easier to avail financial services.
- Products are tailored made to meet the requirements of the targeted group at low cost.
- Easy accessibility of services close to home through our extensive network of agents with minimum document requirement.
200,000
Financial Literacy Beneficiaries
200,000
Women Beneficiaries Reached
3,000
Merchant Network
77
Presence in District
100
Banking Partners
10,00,000
Customer till date
25,000
Agent Network
Women Empowerment
IME’s training center successfully organized Phase IV of the Digital Gaun Abhiyan. Digital Gaun Abhiyan is a training initiative that commenced in February of 2019, as a medium to educate the public in rural areas about digital services. The key motive was to encourage participants to download IMEPAY App and recommend the same to others. According to Madhav Katuwal (IME Limited, Head of Sales Training Department), in the future the Digital Gaun Abhiyan committee plans to reach major remote areas like Doti, Bhajhang and Darchula, where there is lack of banking services. The team already has plans to undertake the Digital Gaun Abhiyan in 20 districts of Nepal in this fiscal year.
The IME training committee’s ultimate motto is to encourage the rural public to make proper use of our wide POS network, whether it be for cash transfer and payments or to utilize IME Pay services. Looking at the bigger picture, Digital Gaun Abhiyan is a CSR initiative taken by IME Pay for the community with the aim to empower them with the access and knowledge of the digital payment system.
