mHITS launches mobile remittance corridor from Australia to Nepal

SMS money transfers to Nepal

Australian mobile wallet solution provider, mHITS, is launching its SMS Remit micro-remittance service for money transfers to Nepal via its affiliate mobile wallet operator eSewa (view press release). Funds are transferred via SMS to a recipient’s mobile wallet account instantaneously and a transfer agent or bank is not required. Funds can be accessed directly from the mobile wallet and, in certain regions, the recipient can withdraw funds in cash. Australian citizens with friends or family in Nepal can now instantly send them funds by crediting their eSewa mobile wallet account via SMS.

By removing the need for a bank or transfer agent, mobile remittances make sending money cheaper than traditional methods. The World Bank claims that reducing remittance commission charges by 2-5% could increase the flow of remittances by 50-70%. According to the GSMA, the global remittance market is expected to grow from USD300 billion today to USD1 trillion in five years’ time due to technological advances in mobile communications.  

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