Everest Bank Fonepay Credit Card Launch: Nepal’s Virtual Credit, QR Payment Solution
5th June 2025, Kathmandu
Fonepay, Nepal’s top digital payment platform, has joined hands with Everest Bank to introduce a completely virtual credit card. The new ‘Everest Fonepay Credit Card’ is now available through the bank’s mobile app, EBL Touch 24.
Everest Fonepay Credit Card Launch
This marks the second rollout of Fonepay’s virtual credit card service in Nepal. Earlier, the company partnered with Citizens Bank for the first phase. With this latest launch, Fonepay aims to expand digital credit access to more users.
Simple Access Through Mobile Banking
The Everest Fonepay Credit Card is entirely virtual. Customers don’t need to visit a bank or collect a physical card. Instead, they can activate and manage the credit card directly through EBL Touch 24, the mobile banking application of Everest Bank.
This approach saves time and adds convenience. Users no longer need to wait for a physical card or go through a lengthy activation process. The digital credit card can be used instantly after activation.
Smooth Payments Via QR Codes
Once the card is activated, users can pay by simply scanning the Fonepay QR codes. These QR codes are widely available across Nepal in small shops, restaurants, and online platforms. With the new card, users can now pay on credit using these QR codes.
This is a major change in how credit cards work in Nepal. Traditionally, credit cards required swiping machines or point-of-sale terminals. Now, the process is quicker and more digital.
Combining Credit With Technology
The new virtual card still comes with regular credit features. Users get access to an interest-free period, just like traditional credit cards. But what makes it special is its modern, tech-friendly approach.
The card allows transactions without plastic cards, swiping, or PIN codes. With this, Fonepay connects classic credit services with new, secure digital tools. It also cuts down paperwork and speeds up payment times.
Control And Convenience For Users
Fonepay says the card offers better control and transparency. Since users manage everything from the app, they can view their spending, check limits, and repay balances easily.
This system empowers customers. They no longer rely on branch visits or bank statements. Instead, everything is at their fingertips.
Built For All Nepalese
Speaking about the launch, Diwas Kumar, CEO of Fonepay, said they are excited to bring Everest Bank into this journey. He stressed the need for a safe and local credit solution.
“This partnership proves that there is a growing demand for secure and domestic credit options. It benefits both consumers and merchants,” he said.
Diwas added that Fonepay wants to offer credit access not just to the elite but to every Nepali, regardless of location or income. The goal is to create a simple, inclusive credit experience.
Supports Financial Inclusion
Fonepay’s plan fits with Nepal’s larger push toward financial inclusion. Many Nepalese still don’t have access to credit services. Fonepay’s virtual card helps change that.
By removing the need for a physical card and making the process app-based, even people in rural areas can apply for and use credit easily. This is a step forward for digital finance in Nepal.
Merchants Also Benefit
The new card is not just good for consumers. Merchants also gain from this system. It helps them accept credit card payments easily without installing machines or special hardware.
A QR code is all they need. This lowers business costs and encourages more small shops and vendors to accept credit payments.
Second Phase Of Expansion
This launch is part of Fonepay’s second phase of expanding its virtual credit card program. The first phase, in partnership with Citizens Bank, saw good results.
Now, with Everest Bank on board, Fonepay is gaining momentum. The company revealed that more banks are preparing to launch their virtual credit cards with Fonepay.
If the trend continues, Nepal could see a complete shift in how credit cards are used, moving from physical plastic to app-based digital tools.
Why It Matters Now?
Digital payments are growing in Nepal. People are using QR codes, online banking, and mobile wallets more than ever. Yet, credit services remained largely offline until now.
With virtual credit cards, that gap is closing. Fonepay and Everest Bank are helping Nepal move closer to a cashless, cardless economy.
Conclusion: Digital Credit For A Digital Nepal
The Everest Fonepay Credit Card is more than just a banking product. It reflects a change in financial behavior, one where speed, access, and inclusion matter most.
Fonepay’s mission to bring credit to every Nepali through partnerships like this supports the broader vision of a Digital Nepal. More importantly, it brings everyday financial tools into the hands of the people—quickly, safely, and without hassle.
As more banks follow, this could become the new normal for credit in Nepal.
For more: Everest Fonepay Credit Card Launch
