15th June 2019, Kathmandu
Nepal’s first and leading company, FonePay has been successful in reaching over 10 thousand merchants. According to the company, they’ve achieved more than 50,000 trades in 14 types of merchants. They also notified that the banking and merchant expansion had covered all the seven states of Nepal.
More than 60% of the merchants are from Province 3, whereas the other 40% is from the remaining states. FonePaynetwork claims to have more than 50 banks and financial companies tied to it and mention the fact that they’re providing the mobile banking services to over 70 lakh users through the collaborations.
The company hopes to expand its services by providing more and more mobile banking users accessible with the services through their member and business networks. FonePay is a payment network, which connects customers, banks, financial institutions, merchants, and administrative office via the Internet network.
According to the company’s press release, the application has made the online payment system more secure, easy to access, and use on daily transactions by expanding their transactional services. Most of the financial activities from FonePay include shopping, travel fares, business payments, etc.
There are also discounts offered in many businesses paid viaFonePay. To make the transactions more convenient and appealing, the company has agreed to provide discount offers, and cash back offers from 20 merchants each month. Fonepay is supporting company of F1soft International, which is mostly known for creating mobile banking software that is currently in use from various banks of Nepal.