Visa Card users visiting Nepal from foreign countries also can now pay digitally through FonePay QR. This facility is introduced by FonePay in Nepal in the collaboration with Visa.
The foreigners who have Visa cards can pay by scanning FonePay QR using mVisa. mVisa is a QR code payment service introduced by the global card company Visa.
This integration will allow the foreigners and Nepalese having Visa cards to pay directly through their mobile app and perform a cash-less transaction.
It Will Allow the Visa Users for Hassle free Digital Payments While Staying in Nepal
This collaboration will enable Visa customers to scan and pay using Visa-enabled app to FonePay’s 600,000 merchants across Nepal. This will free the foreigners from the need for cash conversion before visiting Nepal.
Regarding this collaboration, Mr . Soumya Basu, Country Manager of Visa, shared,
“We have been in Nepal for more than 25 years. This journey of collaboration with FonePay will further enable the partnership with Nepal. With this launch, all the Visa cardholders can make payment through Visa scan-to-pay using any Visa-enabled mobile app at the merchants.”
Nabil Bank Becomes the Banking Partner in this Collaboration
Nabil Bank stands as the banking partner in this collaboration where it will be at the receiving end of payments in Nepal. Adding his remarks on this collaboration, Anil Keshari Shah, CEO of Nabil Bank said,
” As things are going back to normal, we are now ready to receive our earnings through a digital system from people across the world. And there will come a day when we will forget cards, forget cash and there will only be scan-to-pay. “
FonePay will require to change the existing QR codes in their merchant network. As per the direction of Nepal Rastra Bank to enable interoperability among digital payments systems, FonePay’s collaboration with Visa will not only allow for integrated payments to the people in Nepal but also to those around the world under the Visa network coming to Nepal.
Regarding this launch, Guru Prasad Poudel, Executive Director of Payment Systems Department, Nepal Rastra Bank said,
“I hope this will bring convenience to the foreigners in making payments in Nepal for the purchase of goods and services. I believe this integration will enable interoperability in payment services, which aligns with the regulation issued around a month back by Nepal Rastra Bank.“
FonePay and Visa Collaboration is Expected to Bolster Income Inflow in Nepal
Previously, there were only card-based or cash-based payment options for foreigners in Nepal. Now, they can easily pay digitally by just scanning a QR code in Nepal through their mobile app.
Also read: Prabhu Bank Adds FoneLoan BNPL Feature; Buy Now Pay Later through Your Mobile Banking App
This will also support small merchants in Nepal who had problems in adding card-based POS machines. They will be able to receive payments from the foreign buyers which can ease the inflow of income inside the country. This will not only increase the revenue collection of the government but also bring the merchants in banking channel for the systematic records in the national income calculation.
