City Express Money Transfer

Cross-Border Remittance Servicesctxpress.com

City Express Money Transfer is a Kathmandu-based licensed remittance operator that handles approximately 15% of Nepal's inbound remittance flow, serving 5M+ Nepali migrant workers and families across 15+ sending corridors via a 25,000+ payout network, bank deposits, and the City Pay digital wallet.

Company typePrivate
Founded2007
HeadquartersKathmandu, Nepal
Headcount251–500
GTM typeB2C
OfferingServices

What City Express Money Transfer does

City Express Money Transfer Pvt. Ltd. is a Kathmandu-headquartered remittance operator, founded in July 2007 as part of the diversified City Express Group. The company facilitates inbound cross-border money transfers into Nepal from Nepali migrant workers located across more than 15 sending countries, including Gulf states (UAE, Saudi Arabia, Kuwait, Qatar, Oman, Iraq), Malaysia, Australia, Japan, South Korea, Singapore, Hong Kong, Brunei, the UK, and broader Europe. It claims approximately 15% of Nepal's inbound sovereign remittance flow and serves over 5 million customers through a 25,000+ payout network of agents, bank deposit channels, and the licensed City Pay digital wallet (iOS/Android). Operating revenues are generated primarily through sender-paid transaction and service fees that vary by corridor and payout method (cash, wallet, or bank deposit), supplemented by commissions from its domestic agent network. Distribution is hybrid: physical counters and exchange-house partnerships (Al Ansari, Al Muzaini, Al Mulla, Al Mirqab, Gulf Exchange, Modern Exchange, Lulu Malaysia, etc.) on the send side, plus bank integrations (Arab National Bank, Bank Al Bilad, Al Taif Islamic Bank) and the City Pay wallet on the Nepal payout side. The company is also integrated as the Nepal payout partner for major global remittance brands including Ria, MoneyGram, Remitly, TerraPay, SingX, Thunes, Transfast, and TapTap Send.

Underlying technology centers on real-time transaction processing engines and secure API integrations connecting global send-side partners to the domestic payout network, with automated AML/CTF transaction-velocity monitoring. The City Pay mobile wallet extends the platform into bill payments, mobile top-ups, merchant payments, and domestic transfers. The company is privately held under the Tandan family-controlled City Express Group, is licensed and regulated by Nepal Rastra Bank, and has not disclosed any external institutional or venture funding. Its leadership comprises Founder/Managing Director Chandra Tandan (also IPP of the Nepal Remitters Association), CEO Subhas Gyawali, COO Bandana Shrestha, CBO Shuvam Dotel, and CTO Santosh Maharjan.

City Express Money Transfer firmographics

Firmographics

Name: City Express Money Transfer
Legal name: City Express Money Transfer Pvt. Ltd.
Website: https://ctxpress.com
Company type: Private
Founded year: 2007
Operating status: Operating
Headcount range: 251–500 employees
Short description: City Express Money Transfer is a Kathmandu-based licensed remittance operator that handles approximately 15% of Nepal's inbound remittance flow, serving 5M+ Nepali migrant workers and families across 15+ sending corridors via a 25,000+ payout network, bank deposits, and the City Pay digital wallet.
Ownership category
akta.pro rank

City Express Money Transfer industry classification

Industry

Product category: Cross-Border Remittance Services
akta.pro primary industry: Consumer P2P International Remittances (FSAGAKAA)
akta.pro secondary industries: Consumer Remittances (P2P) (FSAMAIAA), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), Cross-Border Collections & Local Receiving (Pay-ins) (FSAMAIAI), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

Cross-border remittance
Money transfer services
Digital wallet payments
Cash payout network
Bank deposit remittance

Where City Express Money Transfer is headquartered

Location

Headquarters

HQ city: Kathmandu
HQ country: Nepal
HQ region: Asia

Offices12 records

Markets served

City Express Money Transfer business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

Transaction/Transfer Fees: The company generates revenue primarily through service charges and transaction fees collected from senders when transferring money to Nepal. Fees vary by sending country, transfer method (cash, wallet, bank transfer), and amount tiered structures. The remitter is charged while sending money; beneficiaries receive funds free of charge.
Commission from Agent Network: Revenue is generated through commissions earned from the network of over 25,000 authorized agents and counters across Nepal who facilitate cash pickups for a percentage of each transaction.

Pricing tiers

Model	Billing	Price
Transaction based/ take rate	Pay-as-you-go	Australia transfers - tiered by amount and method
Transaction based/ take rate	Pay-as-you-go	Kuwait transfers
Transaction based/ take rate	Pay-as-you-go	Malaysia transfers
Transaction based/ take rate	Pay-as-you-go	Qatar transfers
Transaction based/ take rate	Pay-as-you-go	Saudi Arabia transfers - tiered by amount
Transaction based/ take rate	Pay-as-you-go	South Korea transfers
Transaction based/ take rate	Pay-as-you-go	UAE transfers - tiered by amount
Transaction based/ take rate	Pay-as-you-go	Iraq transfers - tiered by amount
Transaction based/ take rate	Pay-as-you-go	Oman transfers
Transaction based/ take rate	Pay-as-you-go	UK transfers
Transaction based/ take rate	Pay-as-you-go	Singapore transfers (SingX)
Transaction based/ take rate	Pay-as-you-go	Hong Kong transfers
Transaction based/ take rate	Pay-as-you-go	Brunei transfers
Transaction based/ take rate	Pay-as-you-go	Europe transfers
Transaction based/ take rate	Pay-as-you-go	Japan transfers - tiered by amount

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

City Express Money Transfer product offering

Product offering

Core offering

City Express Money Transfer is a Nepal Rastra Bank-licensed remittance operator that enables Nepali migrant workers abroad to send money home to Nepal from 15+ sending countries. Funds are delivered to beneficiaries in Nepal through three integrated payout channels: (1) cash pickup at 25,000+ authorized agents and counters nationwide, (2) direct bank account deposits at Nepali commercial, development, finance, and cooperative banks, and (3) the City Pay licensed digital wallet mobile application (iOS and Android). The service is offered directly and through 100+ global remittance partners including MoneyGram, Ria, and Remitly, with real-time transaction processing and tracking.

Product overview

City Express Money Transfer operates as a unified remittance platform combining a core money transfer service with multiple payout delivery modules. The flagship product is the City Express Money Transfer (CEMT) remittance service, which handles cross-border transfers from 15+ sending countries to Nepal. Delivery is facilitated through three integrated modules: Cash Pickup (25,000+ agent counters nationwide), Bank Deposit (connecting to Nepali banks and cooperatives), and the City Pay App digital wallet. An online Transaction Tracking system provides real-time status updates. The platform positions itself as a hybrid model bridging physical agent networks with digital-first infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

City Pay: All-in-One Digital Wallet for remittance access, government payments, utility top-ups, and fund transfers. Available as mobile app for customers and agents.

Products and services

City Express Money Transfer (CEMT) - Core Remittance Service Primary cross-border remittance service enabling Nepali migrant workers abroad to send money to family in Nepal from 15+ sending countries, with real-time transaction processing and routing through international agent counters, bank deposits, or the City Pay digital wallet.
City Pay App (Digital Wallet) Licensed mobile digital wallet application available on Android and iOS for receiving inbound remittances, paying utility bills, topping up mobile credit, making merchant payments, and executing domestic fund transfers linked to bank accounts.
Cash Pickup Service Cash collection service allowing beneficiaries in Nepal to pick up remitted funds from 25,000+ authorized City Express agents and counters nationwide with ID verification and control-number confirmation.
Bank Deposit Service Direct bank account deposit service enabling remittance funds to be transferred to beneficiary bank accounts at commercial banks, development banks, finance companies, and cooperatives across Nepal.
City Pay Wallet Deposit Instant remittance receipt directly into the City Pay digital wallet, providing immediate access to funds for bill payments, merchant purchases, and onward transfers to linked Nepali bank accounts.

Quantifiable outcome

5M+ customers served through 25,000+ payout locations
+4 more outcomes

Companies that use City Express Money Transfer

Customer profile

Named customers5 records

Segments4 records

Ideal customer profiles4 records

City Express Money Transfer technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature4 records

City Express Money Transfer partnerships and signals

Strategic signal

Partnerships

46 partnerships are on record, tiered core, major and minor.

Ria Money TransfercoreChannel Partner/ Reseller/ DistributorGlobal money transfer partnership enabling customers to send remittances to Nepal through Ria's global network routed via City Express payout infrastructure.
MoneyGramcoreChannel Partner/ Reseller/ DistributorMajor international money transfer partnership. City Express serves as MoneyGram's Nepal payout partner, enabling cross-border transfers through the MoneyGram global network.
RemitlymajorChannel Partner/ Reseller/ DistributorDigital remittance partnership enabling Nepal corridor transfers through Remitly's online platform with City Express domestic payout network.
TerraPaymajorTechnology or IntegrationMobile payments technology partnership enabling real-time mobile-based remittance transfers to Nepal.
SingXmajorChannel Partner/ Reseller/ DistributorSingapore-based remittance partner enabling transfers from Singapore to Nepal. Service charges: 13 SGD for bank transfer and cash.
City Express Pty. AustraliacoreChannel Partner/ Reseller/ DistributorSubsidiary/partnership in Australia for Nepali diaspora remittance services. Service charges: AUD 1 for cash, AUD 9.01-9.04 for wallet/bank transfers.
Al Ansari Exchange KuwaitmajorChannel Partner/ Reseller/ DistributorMajor exchange house partnership in Kuwait enabling Nepali workers to transfer money to Nepal.
Al Muzaini Exchange KuwaitmajorChannel Partner/ Reseller/ DistributorDirect exchange partnership in Kuwait for remittance services to Nepal.
Al Mulla Exchange KuwaitmajorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait for money transfer services to Nepal.
AL ALMALIK ALDHARY EXCHANGE COMPANYminorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
AL NADA EXCHANGEminorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
BAHRAIN EXCHANGE COMPANY (BEC)minorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
CITY INTERNATIONAL EXCHANGE CO.WLLminorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
UAE EXCHANGE KUWAIT CENTER CO. WLLminorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
NATIONAL EXCHANGE CO. KuwaitminorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
AMAN EXCHANGE CO. WLLminorChannel Partner/ Reseller/ DistributorExchange partnership in Kuwait.
TRANGLO SDN BHDmajorTechnology or IntegrationMalaysia-based cross-border mobile payments and remittance technology partner.
MONEYMATCH SDN BHDminorChannel Partner/ Reseller/ DistributorMalaysia fintech partner for money transfer services to Nepal.
MERCHANTRADE ASIA SDNminorChannel Partner/ Reseller/ DistributorMalaysia-based trading and exchange services partner.
ACE MONEY EXCHANGE SDN. BHDminorChannel Partner/ Reseller/ DistributorMoney exchange partner in Malaysia.
E-Globex Sdn BhdminorChannel Partner/ Reseller/ DistributorMalaysia exchange partner.
LULU MALAYSIA SDN BHD (NS CASHPOINT)minorChannel Partner/ Reseller/ DistributorExchange partnership through Lulu shopping centers in Malaysia.
PLACID EXPRESS SDN BHDminorChannel Partner/ Reseller/ DistributorMalaysia exchange partner.
SMJ RemitminorChannel Partner/ Reseller/ DistributorMalaysia remittance partner.
AL MIRQAB EXCHANGE CO. W.L.LmajorChannel Partner/ Reseller/ DistributorMajor exchange house partnership in Qatar for remittance services to Nepal.
Almana Exchange W. L. L.majorChannel Partner/ Reseller/ DistributorQatar-based exchange partnership.
GULF EXCHANGE COMPANY QatarminorChannel Partner/ Reseller/ DistributorExchange partnership in Qatar.
DOHA EXCHANGE W.L.LminorChannel Partner/ Reseller/ DistributorExchange partnership in Qatar.
ARAB NATIONAL BANK (ANB)coreChannel Partner/ Reseller/ DistributorMajor Saudi Arabian bank partnership enabling remittance transfers to Nepal through bank's extensive branch network.
Bank Al Bilad (Enjaz)coreChannel Partner/ Reseller/ DistributorSaudi Arabian bank with Enjaz digital platform for remittance services to Nepal.
Al Ansari Exchange UAEcoreChannel Partner/ Reseller/ DistributorMajor UAE exchange house partnership (FERG member) for remittance services to Nepal. Service charges: AED 17 up to AED 1000, AED 26 above AED 1000.
Al Fardan Exchange LLCmajorChannel Partner/ Reseller/ DistributorUAE exchange partnership.
XPRESS MONEY UAEmajorChannel Partner/ Reseller/ DistributorInternational money transfer brand partnership in UAE.
AL TAIF ISLAMIC BANKmajorChannel Partner/ Reseller/ DistributorIslamic banking partnership in Iraq for Sharia-compliant remittance services to Nepal.
TAPTAP SENDmajorChannel Partner/ Reseller/ DistributorUK-based mobile remittance app partnership for transfers to Nepal. Free service charges.
MONEYTO LIMITEDminorChannel Partner/ Reseller/ DistributorUK-based money transfer partner.
PAY SEND UKminorChannel Partner/ Reseller/ DistributorUK-based payment transfer partner.
LIGHTNET PTE. LTD.majorTechnology or IntegrationSingapore fintech partnership for mobile-based remittance transfers to Nepal.
THUNES (TRANSFERTO MOBILE SERVICE)majorTechnology or IntegrationGlobal mobile payment infrastructure partnership enabling cross-border transfers.
SBI REMIT (City Express Japan)coreChannel Partner/ Reseller/ DistributorJapan-based remittance partnership through SBI group for Nepal transfers.
CITY EXPRESS MONEY TRANSFER JAPAN CO. LTDcoreChannel Partner/ Reseller/ DistributorSubsidiary partnership in Japan for Nepali diaspora remittance services.
G Money TranscoreChannel Partner/ Reseller/ DistributorSouth Korea-based money transfer partner with Representative Bijay Raj Tandan. Service charge: 2,500 KRW for any transfer method.
Modern Exchange OmancoreChannel Partner/ Reseller/ DistributorOman's leading exchange partnership for remittance services to Nepal. Service charges: 2.1 OMR cash, 1.2 OMR wallet.
SIAMMALI REMITTANCEminorChannel Partner/ Reseller/ DistributorBrunei-based exchange partnership. No service charges applicable.
Nepal Rastra BankcoreOthersCentral bank of Nepal - regulatory licensing and oversight. City Express is fully licensed and compliant with NRB guidelines for remittance services.
City Express GroupcoreOthersParent diversified business group with interests spanning financial services, information technology, trading, travel and tourism, hospitality, visa processing, and retail. Enables operational synergies through internal technology frameworks and global logistics pipelines.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

City Express Money Transfer competitors and assessment

Company assessment

Direct peers

IME Group (IME Remit): Nepal's largest remittance company and most direct head-to-head competitor to City Express, operating a similar agent-based payout model serving Nepali diaspora across Gulf states, Malaysia, and beyond.
Prabhu Money Transfer: Nepal-based remittance service provider operating inbound cross-border transfers from Gulf, Malaysia, and other labor markets; competes directly with City Express for migrant-worker senders and domestic payout share.
Himal Remit: Nepal-licensed remittance operator with a comparable inbound cross-border model and agent payout network; competes for both sender relationships in Gulf states and beneficiary mind-share in Nepal.

Broad incumbents

Western Union: Global incumbent in cross-border money transfer with the largest agent network worldwide. Overlaps with City Express on the Nepal inbound corridor but competes broadly across many destinations and geographies.
Al Ansari Exchange: Major UAE- and Gulf-based exchange house that is both a sending-side partner to City Express and a broad remittance operator across many corridors; competes at the sender counter in Gulf states.

Others

MoneyGram:
TerraPay: Global mobile payments infrastructure provider that is a key technology partner for City Express; adjacent infrastructure player rather than a direct competitor, but enabling digital-first corridors that compete for City Express's flows.

Emerging players

Remitly: Digital-first remittance company focused on migrant corridors; both a partner routing into City Express's Nepal network and a direct competitor to City Express's branded online send-money experience.
Wise (formerly TransferWise): Digital-first low-fee cross-border money movement platform; while not Nepal-corridor-deep today, its brand and app-based model represent a long-term threat to traditional remittance pricing on the Nepal corridor.

Regional players

FonePay Payment Network: Nepal-based interoperable QR and digital payment network; comparable as a domestic Nepal digital-payments player adjacent to City Pay, though focused on domestic retail payments rather than cross-border remittance.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

City Express Money Transfer financial estimates

Financial estimate

Revenue estimate

Valuation estimate

City Express Money Transfer leadership team

Management profile

Number of profiles

Profiles17 records

City Express Money Transfer subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

City Express Money Transfer funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

City Express Money Transfer M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about City Express Money Transfer

What does City Express Money Transfer do?

Is City Express Money Transfer a public or private company?

City Express Money Transfer is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was City Express Money Transfer founded?

City Express Money Transfer was founded in 2007. It employs 251 to 500 people.

Where is City Express Money Transfer based?

City Express Money Transfer is headquartered in Kathmandu, Nepal, in the Asia region.

How does City Express Money Transfer make money?

Two revenue lines are on record. Transaction/Transfer Fees are the primary driver. The others are commission from Agent Network.

Who are City Express Money Transfer's main competitors?

Direct peers on record are IME Group (IME Remit), Prabhu Money Transfer and Himal Remit. Broad incumbents are Western Union and Al Ansari Exchange. Others are MoneyGram and TerraPay. Emerging players are Remitly and Wise (formerly TransferWise). FonePay Payment Network is listed as a regional player.

Does City Express Money Transfer have an API?

No public API is recorded for City Express Money Transfer.

What industry is City Express Money Transfer in?

City Express Money Transfer's product category is Cross-Border Remittance Services. Its primary akta.pro industry code is FSAGAKAA, Consumer P2P International Remittances, with a secondary code of FSAMAIAA, Consumer Remittances (P2P).