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Oxigen launches Indo-Nepal money remittance service

Payment services company Oxigen has started an Indo-Nepal money remittance in partnership with the IME Nepal to help migrant Nepali workers. Nepali citizens residing in India, for employment, can send money through Oxigen’s 30,000 banking touch points of the total 2,00,000 Oxigen retail network locations, across India. The receivers in Nepal can receive the amount through more than 5,400 agent locations of IME in Nepal. IME will provide account deposit facilities to these customers besides cash payment options. Oxigen has tied up with RBL Bank in India and IME Nepal has partnered with Global IME Bank for fund settlements. Note that Oxigen has not mentioned charges for international money transfers and we will update once we hear from them. Traditionally, Oxigen has had a strong offline presence - it mentioned that the average ticket size of a money transfer was Rs 3,500…

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