Tootle, a startup providing motorcycle sharing service in Kathmandu, and the United Nations Capital Development Fund’s (UNCDF) Mobile Money for the Poor (MM4P) program have signed a grant and a technical assistance agreement, reports The Kathmandu Post.
Why it matters:
- With this agreement, the pilot project, “Doorstep Delivery of Financial Services (Roving Agents) and Driving Adoption of Electronic Payments through Delivery Service Use-Case” can be initiated in Kathmandu.
- The pilot will test the viability of this model and its potential to enhance the digital financial services ecosystem in the country.
- Both organization will use a network of bikers for the delivery of both financial and non-financial services such as package delivery, food delivery and more to retail customers.
- UNCDF uses grants and technical expertise to help companies test and scale up financial inclusion initiatives that use partnerships to reach low-income people.
- As part of its market development mandate, MM4P engages with payment service providers, banks and start-ups, but also regulators, government institutions and community-based organizations to develop, test and scale up financial inclusion initiatives that use partnerships to reach low-income people, a press release issued by UNCDF states.
What they are saying:
- “We hope our support to Tootle will be a triple success – customers can get financial services at their doorstep, drivers can make more money, and Tootle can build its business” said Abhay Pareek, UNCDF Digital Finance Expert based in Kathmandu.
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