2nd December 2022, Kathmandu
The banks & financial institutions, and payment service providers acquired over one Lakh NEPALPAY QR within a short span of over four months since it was rolled out. The milestone of reaching one lakh merchants is expected further to support the adoption of QR payments in Nepal.
NEPALPAY QR is the implementing infrastructure of the NepalQR standard issued by Nepal Rastra Bank as part of the National Payment Switch (NPS). It operates as an independent QR scheme and facilitates QR interoperability QR at the merchant and network levels.
The merchants can contact their banks or PSPs for enrollment within NEPALPAY QR and start receiving QR payments from their customers. Such registration could be in the form of a physical QR standee, integrating with their billing system as dynamic QR, enabling their android POS, or integrating a QR-based payment gateway in their e-commerce portal. Current active acquiring BFIs and PSPs are Everest Bank, Himalayan Bank, Kumari Bank, Laxmi Bank, Machhapuchchhre Bank, Mega Bank, NMB Bank, NCC Bank, NIC Asia Bank, Sanima Bank, Siddharth Bank, Standard Chartered Bank, Sunrise Bank, Garima Bikas Bank, Kamana Sewa Bikas Bank, Central Finance, Goodwill Finance, ICFC Finance, Samriddhi Finance, Pay Nep Pvt. Ltd. (MORU) and Focusone Solutions Pvt. Ltd (MoCo), with others also in the process of roll-out.
Most of the mobile banking apps provided by the BFIs, wallets provided by PSPs, and connect-IPS apps can be used to scan & pay with NEPALPAY QR. The users need to check the NEPALPAY QR code to initiate a payment.
It is currently enabled in mobile banking apps of 14 BFIs and 2 PSPs, including Everest Bank, Himalayan Bank, Laxmi Bank, Machhapuchhre Bank, Mega Bank, NCC Bank, NIC Asia Bank, Sanima Bank, Sunrise Bank, Garima Bikas Bank, Goodwill Finance, Kamana Sewa, ICFC Finance, Samriddhi Finance, CellPay, and MORU. To know if your mobile banking and wallet are enabled for NEPALPAY QR, go to the QR Scan option and ensure that the NEPALPAY logo is visible.
For more information, contact your bank or visit Click Here.