Garima Bikas Bank Launches Nepal’s First Virtual Credit Card Through Mobile Banking App
17th September 2025, Kathmandu
In a significant stride towards modernizing Nepal’s financial landscape, Garima Bikas Bank Limited has introduced a virtual credit card service, the first of its kind to be offered by a development bank in the country.
Garima Bank Virtual Credit Card
This groundbreaking service, a product of collaboration with the Fonepay network, is seamlessly integrated into the bank’s mobile banking application, Garima Digi Batua. The launch of this service positions Garima Bikas Bank at the forefront of the digital finance revolution in Nepal, providing customers with a secure, cashless, and highly convenient banking experience without the need for a physical card.
The Mechanics of the Virtual Credit Card
The application process for the virtual credit card is straightforward, designed to be accessible to a wide range of customers. Existing customers of Garima Bikas Bank can initiate the process by visiting their nearest branch and filling out a simple application form. Upon approval, the virtual card is instantly activated and made available within the Garima Digi Batua mobile banking app. This rapid issuance eliminates the traditional waiting period associated with physical card production and delivery. Once activated, the card can be used immediately to make payments by scanning any Fonepay QR code, which are now accepted at over 1.7 million merchant locations across Nepal, from small local shops to large retail chains. This broad acceptance network ensures that users can make digital payments conveniently in almost any part of the country. The integration with Fonepay’s ubiquitous QR system allows for a frictionless payment experience, supporting the transition towards a cashless economy.
Key Features and Strategic Benefits
Garima Bikas Bank’s virtual credit card comes with a range of features tailored to the modern consumer. The credit limit is flexible, ranging from a minimum of NPR 10,000 to a maximum of NPR 100,000, which provides users with a manageable line of credit for their everyday needs. A key selling point of this service is the interest-free period of up to 45 days, offering customers a significant grace period to manage their finances without incurring additional costs. Furthermore, the bank provides flexible repayment options, allowing users to either pay a minimum of 10 percent of their outstanding balance or the full amount at the end of the billing cycle.
Beyond convenience, one of the most significant advantages of this virtual card is the enhanced security. Since the card exists entirely within the secure environment of the mobile banking app, the risk of physical loss, theft, or card skimming is eliminated. This digital-only existence provides a much safer alternative to traditional physical cards, giving users peace of mind in a world where financial fraud is a growing concern. The virtual card is also a testament to Garima Bikas Bank’s robust digital infrastructure, which includes a network of 125 branches, one extension counter, and 51 ATMs nationwide. This extensive physical network, combined with the advanced Garima Digi Batua platform, allows the bank to deliver high-quality, safe, and efficient services to a broad customer base.
A Catalyst for Financial Inclusion and Innovation
The launch of Nepal’s first virtual credit card by a development bank represents a pivotal moment in the nation’s financial evolution. It signifies a major step in the ongoing efforts to modernize Nepal’s banking sector and promote financial inclusion. For many, particularly those in semi-urban and rural areas, accessing traditional credit services has been a challenge due to stringent eligibility criteria and the need for extensive documentation. The virtual credit card, with its streamlined digital application and issuance process, can make credit more accessible to a wider population, including small business owners, freelancers, and students who may not have a stable income or a formal credit history.
Moreover, this initiative is a powerful catalyst for the adoption of a cashless economy. By offering a secure and easy-to-use digital payment solution, Garima Bikas Bank is encouraging more customers to shift away from cash transactions. This not only makes daily payments more convenient but also contributes to a more transparent and trackable financial system. The partnership with Fonepay is particularly strategic, as it leverages an existing, widely accepted digital payment network, ensuring that the new virtual card is immediately useful to customers. The combination of financial innovation, enhanced security, and customer convenience positions Garima Bikas Bank as a leader in Nepal’s digital finance revolution, setting a high standard for other financial institutions to follow. The virtual credit card empowers customers to make quick and confident payments, truly ushering in a new era of modern banking across the country.
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