NEPALPAY QR Monthly Transaction Crosses 1 Crore

NEPALPAY QR transactions in the months of Ashadh and Shrawan have crossed close to NPR. 1.5 Crore. The member banks & financial institutions and some of the wallets have started to acquire merchants for NEPALPAY QR and also enabled their instruments for customers to scan & pay. 

Most of the mobile banking apps provided by the BFIs, some of the wallets and connectIPS app have been enabled to scan & pay with NEPALPAY QR. The users simply need to scan NEPALPAY QR code for initiating a payment.It is currently enabled in mobile banking apps of 11 BFIs and a PSP including Everest Bank (EBL Touch 24), Himalayan Bank (HI-MB), Machhapuchhre Bank (MBL M-Smart), Mega Bank (Mega Smart Banking), NIC Asia (MoBank), Sanima Bank (Sajilo e-Banking), Sunrise Bank (Smart+), Kamana Sewa Bikas Bank (KS iMobile), Goodwill Finance (Goodwill Finance Smart), ICFC Finance (ICFC Finance Smart), Samriddhi Finance (mBank), Cellcom Pvt Ltd. (CellPay) and connectIPS mobile app. Other BFIs and PSPs are also in process of integrating their apps, for which total of 52 BFIs and 13 PSPs have already signed up within NPS.

The business customers of the BFIs and PSPs can contact their banks or PSPs to be enrolled as merchants within NEPALPAY QR and start receiving payments from their customers. Such enrollment could be in a form of physical QR standee or integrating with their billing system as dynamic QR or enabling their android POS or integrating QR based payment gateway in their e-commerce portal. Some of the BFIs and a PSP have also stated providing aggregated interoperable QR. The businesses can contact one of the BFIs/PSPs includingEverest Bank, Himalayan Bank, Kumari Bank, Machhapuchchhre Bank, Mega Bank, NMB Bank, NIC Asia Bank, Sanima Bank, Standard Chartered Bank, Sunrise Bank, Garima Bikas Bank, Kamana Sewa Bikas Bank, Central Finance, Goodwill Finance, ICFC Finance, Samriddhi Finance or Focusone Solutions for enrollment. Others BFIs and PSPs are also in process of roll-out.

Also Read: NEPALPAY Instant: connectIPS Users Can Now Send Money to Bank Account and Wallets Using Mobile Number

NEPALPAY QR is operated by NCHL as an implementing infrastructure of NepalQR standards published by Nepal Rastra Bank and as part of the National Payment Switch (NPS), primarily for interoperability. It works as an independent QR scheme and allows QR interoperability at merchant and network levels, corresponding to which independent QR and merchant level interoperability has already been realized so far. NEPALPAY QR payment is also available as an additional option within connectIPS payment gateway, that can be used by the customers of mobile banking app and wallets.