eSewa introduces 'Buy Now, Pay Later' scheme for electric scooter purchases

KATHMANDU: Nepal's leading payment provider, eSewa, has introduced the country's first digital wallet 'Buy Now, Pay Later' service, allowing customers to purchase electric scooters in instalments. The feature enables users to buy Gyro brand electric scooters directly through the eSewa platform, eliminating the need for a large upfront payment.

Through a completely digital application process, buyers can secure financing of up to Rs 200,000 at an interest rate of 9.99%. Under the arrangement, Reliance Finance serves as the financial partner providing the loans, while dealership Parimita Investment supplies the vehicles. Customers can repay the amount in manageable instalments over a period of up to 36 months.

The service was formalised through a tripartite partnership agreement signed on September 24 at eSewa's central office. The agreement was signed by Jagdish Khadka, the outgoing chief executive officer of eSewa, Ramhari Acharya, deputy chief executive officer of Reliance Finance, and Manan Tuladhar, representing Parimita Investment.

eSewa stated that the new service is a continuation of its efforts to deliver convenient financial solutions through digital technology. The company noted that making electric scooters more accessible is expected to encourage the adoption of environmentally friendly transport, contributing to reduced pollution, sustainable transport, and the growth of a digital economy.

The tripartite agreement is expected to expand cooperation across the digital payment, financial, and electric vehicle sectors to aid the development of new services. eSewa expressed its ongoing commitment to expanding innovative digital solutions to meet the changing lifestyles and needs of its customers.