Nepal’s leading digital wallet eSewa marks its 16th anniversary today on January 22 (2025). The company is one of the major drivers of the digital economy of the country and going forward, it’s laid out plans to enhance wallet service as well as introducing other financial and saving schemes too.
The company started off with a beta version of eSewa on January 25, 2010, with 4 employees. It was a new school of thought and transformative in nature given that it let people pay bills on their smartphones using the eSewa app. Fast forward to date, it’s used widely across the country.
A decade ago, Nepal’s digital inclusion was much in want of attention while internet penetration was also less. Over the years, eSewa not only grew as a digital wallet but also transformed how people could pay their bills. It’s leading a digital revolution reinforcing digital transaction habits among smartphone users.
The company says that shifting cash towards digitalization sounds easy, however, it was a brave act 16 years ago. And the company attributes its success their commitment, struggle, and dedication. And that’s very reflective of the company since there are many top digital wallets, eSewa stands out at large.
Esewa is available in all 753 local levels in Nepal playing an incredible role in the promotion of digital and financial inclusion.
Also, check out the digital wallet payment limit in Nepal
Official start of eSewa
If you remember in 2009, eSewa started with a beta version on desktop computers. But soon, it brought top-up mobile recharge and online bill payment which drastically changed the ways of the people. The company started officially in 2010 and became a separate entity in 2012 not just being a product of F1Soft.
Then, it initiated an agent network and its first official merchant was Buddha Air. Currently, thousands of users book their flight tickets on eSewa.
Similarly, in 2013, the company achieved the “Best Technology Innovation Award which proved to be a milestone. Next, it received a license as a payment service provider (PSP) which justified its existence during the COVID-19 lockdowns. The contactless digital payment took an unprecedented high and it’s growing ever since then.
eSewa provides payment facility for over 2000 services including utility payments, top-ups, bluebook renewal, and insurance payments. Additionally, it offers merchant links, easy loans, etc. services.
eSewa has not only directly provided a comfortable lifestyle to its customers but also made a significant contribution to Nepal’s climate. Normally, people use a large amount of paper in daily cash transactions. However, through online payments, eSewa has so far saved about 3,72,340 kg of paper.
Check out: eSewa facility: Same app for personal and business users
eSewa contribution in carbon dioxide reduction
eSewa has helped reduce a total of 7,809,698.726 kg of carbon dioxide. About one million people in Nepal have been paying their Nepal Electricity Authority (NEA) bills through eSewa, saving consumers time, paper, ink, and fuel used to print one million receipts. This in itself is a remarkable change.
eSewa at 16 years
Starting with four employees, eSewa now provides employment to more than 450 people. Also, for the first time in Nepal, a new dimension has begun in Nepal’s digital payment with the easy loan service provided to agents, which allows limited electronic transactions as directed by the service recipient.
The popular digital wallet introduced AI Chatbot eVA to facilitate customer services. And you should also know that the eSewa app has already surpassed a 10 million download record and that’s counting on Android only.
eSewa currently boasts a strong base of 9 million users, 49 bank and financial institution partners, from these banks, money can be easily deposited in Esewa and money can also be sent to bank accounts from Esewa. It has over 268,000 agents.
Future plans for eSewa after the 16th anniversary
As eSewa celebrates its 16th anniversary, it has shared its ambitious plans for the future. The company says that it aims to provide saving and investment plans too. For this, it’s currently working on bringing mutual funds and other investment plans for its users. Likewise, it’s planning to provide an Easy Loan service to users which is currently available for merchants only.
Besides, the digital payment leader will implement a more robust system to detect fraud and suspicious activities using artificial intelligence (AI). It further adds that it wants to grow further in the journey of spending, saving, and increasing income with innovative technologies.
“Our action plan is to establish eSewa as an even more trusted, useful, and inclusive financial service provider. Because, what cannot be forgotten is that eSewa believes in the principle of ‘for all, always and together for the economy’. It focuses its services on covering people from all classes, communities, and regions, which contributes to bringing economic prosperity to every geography of Nepal,” eSewa said in its presser.
The company says that it will conduct its operations not just as a digital wallet but as a financial companion to help customers with a comfortable lifestyle. In conclusion, eSewa is to work as a good financial habit.
On this occasion as eSewa marks its incredible 16th anniversary, nepalitelecom.com wishes it best and hopes that it amplifies further its contribution for Nepal’s digital economy and promotes financial inclusion.
When was the first time you used eSewa? Has it transformed your digital life? Do share in our comments section below.
