Fonepay has reached yet another milestone in the month of Poush by crossing NRs. 51 billion worth of transactions across its networks. It has reached this milestone in a single month which is a great achievement for the digital ecosystem. This has proved that the practice of digital payments is increasing rapidly in Nepal.

In the month of Poush alone, Fonepay has crossed this transaction amount through 44 lakhs transactions. Using the Fonepay network, one can opt for digital payments through:

  • QR Code
  • Interbank Transfer
  • Online Merchant Payment
  • Mobile Banking

After reaching an NRs. 51 billion transaction amount, Fonepay has shared this happiness with its stakeholders and customers. The users have been using Fonepay for merchant payments, fund transfers, airline ticket booking, utility bill payment, and many more.

About FonePay; How Did It Make Huge Transactions?

FonnePay is one of the leading and reputed payment system operators in Nepal licensed by Nepal Rastra Bank. The FonePay network includes 60+ banks and financial institutions, while the international payment partners include China UnionPay and AliPay. Similarly, there are more than 570,000 merchants in FonePay so far. FonePay is affiliated with payment service providers such as eSewa, IME Pay, and CellPay for QR code payments.

It is one of the units of the IT company F1 Soft International. F1 Soft International is the parent company of prominent digital payment systems like eSewa and Fonepay. eSewa is the first digital payment gateway in Nepal. It started its operation in 2009 as a digital wallet. Now, it has more than 5 million users and over 130,000 agent networks.

Fonepay has grown with an increasing number of users. It has introduced its own Foneay Offer App which allows you to buy products online and pay through the reward points you get in each Fonepay transaction. With many new services and products for digital payments and transactions, the Fonepay network is growing more and more. It is building a great customer base which is adding new members day by day. In addition to that, it now serves more than 4 million banking customers through mobile banking apps and about 6 million users of payment service providers (PSPs) including digital wallets.

With reaching such a huge milestone, Fonepay is contributing to the digital economy too, supporting the vision of #digitalnepal. TechSathi congratulates the whole team on this achievement.

Do you use the services of Fonepay? How was your experience in this? Feel free to share your thoughts on this.

Also read: What is NFT? Here’s all you should know about NFT

Share.

Hi, I am a postgraduate student of Economics, stock market enthusiast, an occasional storyteller and a habitual reader.

Leave A Reply