Although things seem to be steadily turning back to what was once considered normal, the innate risks of the pandemic don’t feel like they’re going away anytime soon. In the meanwhile, digital payment transactions have seen a much-needed surge in Nepal. This is because contact-less means of payments seamlessly mold comfort while letting you maintain safe social distancing. And amidst all this, IME Pay has successfully registered 1 million downloads on the Google Play Store.
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IME Pay Overview
IME Pay is a payment gateway/digital wallet in Nepal, promoted by IME Digital Solutions while being owned and operated under IME Group. With the company’s long-and-successful heritage of remittance solutions, IME Pay’s remittance feature has been a major driving force in its success. One can easily receive remittance from people living in Nepal or abroad directly into their wallet; they are even eligible to receive a bonus of up to Rs. 60 in the process. How neat!
Moreover, you can also request funds from fellow IME Pay users, or load the wallet yourself through different means. This includes your bank’s e-banking or mobile banking portal, Visa/Master/SCT debit or credit card, Connect IPS account, or through IME agents around you. On the other hand, IME Pay allows money transfer from a user’s wallet to his/her bank account, domestic remittance, or other IME Pay users.
Utility payments and more
Besides this, one can also make utility payments. For example, mobile, landline top-up, electricity, water, TV, internet bills, etc. Some of these even include a certain percentage of cashback. There’s the option to buy tickets for movies, airlines, Chandragiri Cable Car, and different sponsored events. Finally, IME Pay also lets you make payments on your EMI, insurance premium, Demat account, credit card, CTEVT exam, or to your stockbroker too. Additionally, IME Pay users can enjoy a cashback of Rs. 2 on every liter of petrol at select petrol pumps in Kathmandu. All this diverse feature set on the platform has certainly contributed to IME Pay’s climb to 1,000,000 downloads.
Super Wallet – Earn interest on your wallet balance
Upon each successful transaction, it rewards you some reward points as well. You can redeem them for cash or different gifts offered within the app. What’s unique to IME Pay that no other digital wallet in Nepal offer, is that the users have an opportunity to earn interest on their wallet balance. After all, money is only going to go down in value with every passing day so why not “make your money earn you money”. Here, one has to upgrade their account to “Super Wallet” to be eligible to earn 4% interest pa.
The conditions to upgrade their regular IME Pay account to Super Wallet is simple. First, the user must have verified their KYC details. On top of this, they must have performed a minimum of 10 transactions in a month; and have a closing balance of at least Rs. 1,000 every day. That’s fairly reasonable I’d say. The accrued interest will be automatically deposited to the IME Pay wallet every three months on the Nepali Calendar.
Easy-to-use and secure app
Available for both Android and iOS users, the IME Pay app is incredibly well-designed; although I’d like to see dark mode pretty soon. The app is frequently updated for better optimization and feature additions. In terms of security, you can secure your account and transactions using a 4-digit PIN or other biometric option like fingerprint (if available).
First digital wallet to get the license from Nepal Rastra Bank
Despite being a comparatively new player in Nepal’s digital wallet industry, IME Pay is the first to get Nepal Rastra Bank’s license under the “भुक्तानी तथा फर्छ्यौट विनियमावली – २०७२”. Thanks to this, the company operates as a legitimate digital payment service provider (PSP) in the country. So, with the legal side of things all secured and monitored by Nepal’s central bank itself, you don’t need to worry when making transactions on IME Pay.
A solid network of nationwide coverage
With the infrastructure and resources of its parent company, IME Pay has accumulated a big network of partners, agents, and other affiliates. It has a nationwide presence in all 77 districts with 1 million customers, 25,000+ IME agents, 50+ banking partners, and 3,000+ merchant network. Let’s take a look at the list of its banking partners:
Advertisements, partnerships, & community engagement
In a bid to become a household name in terms of digital wallets, IME Pay “Nepal Lok Star” last year. It has also won the title sponsor spot for the Nepali rendition of the popular international franchise show “Dancing With The Stars”. The program will go to go live from Ashoj 2nd, 2077 B.S on Himalaya TV. Under community outreach programs, the company has been involved in educating and training people in rural parts of Nepal. Its topic mostly revolves around digital currency, its importance, and its implementation. Because of this, IME Pay’s userbase is spread out over the country; rather than being concentrated on just urban cities like Kathmandu.
IME Pay 1 Million Downloads Celebration
Finally, to celebrate IME Pay getting 1 million downloads in Google Play Store, the company has come up with different offers.
- Under the forthcoming 2 weeks, people who top-up their phone using IME Pay App will be eligible to win a brand new OnePlus Nord. The winner will be announced based on a lucky draw.
More details regarding the campaign will be uncovered in the coming days. So, be sure to follow them on their different social media handles (website, Facebook, Twitter).