Kathmandu, Nov. 12 -- Nepal Rastra Bank, the central bank, has approved a partnership between RightCard Payment Services Limited-trading as LemFi-and Esewa Money Transfer to operate remittance services into Nepal.

With this approval, LemFi will be able to offer low-cost and reliable international payment services to Nepalis residing in North America and Europe, including the United Kingdom. The service will allow users to send money to Nepal and several other countries across Africa, Asia, Latin America, and Europe.

Remittances form a crucial part of Nepal's economy, contributing significantly to household income and foreign exchange reserves.

"We are honoured that our partnership to better serve the Nepali diaspora has received this a...