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Kantipur Media Group makes investment in F1Soft International, online transactions to be made possible even in remote areas

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Kathmandu, May 31, 2017: Kantipur Media Group has made an investment in the pioneer software development company, F1Soft International.

The group had made an investment in the company which is also the developer of eSewa, an online payment gateway, which has been playing a key role in providing mobile banking services and promoting e-commerce in the country.

F1Soft is the designer of financial technology products, such as mobile and internet banking platforms, and digital wallet. The products of F1Soft are being used by 95 percent of banks and financial institutions in the country. These products have enabled over five million people in Nepal to pay utility bills, make online payments and remit funds for the last nine years.

“This partnership will help us to expand our services nationwide. It will also help us to generate awareness about financial technology products and raise people’s access to mobile banking and mobile financial services,” said president of F1Soft Biswas Dhakal in a statement.

The partnership has been announced at a time when demand for platforms that support electronic transaction is gradually increasing in Nepal with the rapid rise in the number of mobile phone users.

The products of F1Soft will facilitate people to make online transactions even in remote areas where there is no presence of brick-and-mortar bank branches.

In partnership with KMG, F1Soft aims to develop and deploy financial technology that suits the local needs. F1Soft will also focus on innovation of technology that caters to the needs of the society.

(With inputs from The Kathmandu Post)