3rd April 2025, Kathmandu
With the launch of interoperable QR payments and remittance services, mBank paves the way for secure, convenient, and accessible banking, especially for rural and underserved populations in Nepal.
Interoperable QR Payments Nepal
The services, introduced on the occasion of the 68th National Cooperative Day, include eSewa Remit, Samsara, IME Remit, City Remit, Missed Call Banking, and Interoperable QR Payment.
Expanding Access to Financial Services
mBank’s new offerings aim to provide secure and efficient financial solutions, especially for individuals in remote areas where banking options are limited. The newly launched remittance services—eSewa Remit, Samsara, IME Remit, and City Remit—enable fast, reliable domestic and international money transfers. This will help ensure financial stability for families and businesses by offering a faster and more accessible way to receive funds.
Interoperable QR Payments: A New Milestone in Digital Payments
A standout feature of the new services is the Interoperable QR Payment Service. This allows customers to scan any QR code from different banks or payment providers and make payments seamlessly. By doing so, users can pay using their preferred platform, while merchants can accept payments from various financial institutions without hassle. This flexibility enhances digital payment adoption, benefiting both customers and merchants alike.
Missed Call Banking: Simplifying Banking for All
To bridge the digital divide, mBank has introduced Missed Call Banking. This service is designed for users who have limited access to smartphones or the internet. Customers can simply make a missed call to a designated number to receive account details, mini-statements, and other banking information. This eliminates the need for branch visits or apps, making banking more accessible, especially for people in rural areas.
Commitment to Financial Inclusion
Sanjay Mahaseth, Founder and CEO of mBank, expressed the bank’s commitment to financial inclusion. “These digital services are designed to promote financial independence and support cooperative members and the wider community,” he said. “We are dedicated to ensuring that even the most remote populations have access to secure, convenient financial services.”
Driving Nepal’s Digital Banking Future
The introduction of these services marks a major step forward in Nepal’s digital banking landscape. By embracing fintech innovations, mBank is not only streamlining financial transactions but also reaching previously underserved communities. The introduction of interoperable QR payments and missed call banking services will help bring banking to those who have been excluded from traditional financial systems.
Conclusion
mBank’s new digital solutions set a new standard for financial inclusion and innovation in Nepal. With secure remittance options, interoperable QR payments, and the user-friendly missed call banking service, mBank is making banking more accessible for everyone. These initiatives ensure that all individuals, even in the most remote regions, can participate in the digital economy and access the services they need for financial empowerment.
For more: Interoperable QR Payments Nepal