22nd February 2023, Kathmandu
Merchant acquiring under the NEPALPAY QR network by the banks & financial institutions and payment service providers has crossed over Two Lakh merchants.
This is a key milestone in further supporting the adoption of QR payments in Nepal to strengthen the digital payment ecosystem.
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 also facilitates the interoperability of QR at merchant and network levels.
There are over 23 BFIs and 2 PSPs currently acquiring the QR. Similarly, there are over 16 BFIs and 4 PSPs whose mobile banking or wallets can scan for QR payment, with others in process of the rollout.
The merchants can contact their banks or PSPs for enrollment within NEPALPAY QR and to start receiving QR payments from their customers.
Such enrollment could be in a form of a physical QR standee or integrating with their billing system as dynamic QR or enabling their android POS or integrating a QR-based payment gateway in their e-commerce portal. Current active acquiring BFIs and PSPs are Citizens Banks International, Everest Bank, Himalayan Bank, Kumari Bank, Laxmi Bank, Machhapuchchhre Bank, Nepal Investment Mega Bank, NMB Bank, NIC Asia Bank, Nepal SBI Bank, Sanima Bank, Siddharth Bank, Standard Chartered Bank, Sunrise Bank, Garima Bikas Bank, Jyoti Bikas Bank, Kamana Sewa Bikas Bank, Shine Resunga Development Bank, Central Finance, Goodwill Finance, ICFC Finance, Pokhara Finance, Samriddhi Finance, Pay Nep Pvt. Ltd. (MORU) and Focus on Solutions Pvt. Ltd (MoCo).
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 simply need to scan NEPALPAY QR for initiating a payment.
is currently enabled in mobile banking apps of Everest Bank, Global IME Bank, Himalayan Bank, Laxmi Bank, Machhapuchhre Bank, Nepal Investment Mega Bank, NMB Bank, NIC Asia Bank, Prabhu Bank, Sanima Bank, Sunrise Bank, Garima Bikas Bank, Kamana Sewa Bikas Bank, Goodwill Finance, ICFC Finance, Samriddhi Finance, CellPay, MORU, Ncash, and Hamro Pay.
In order to know if your mobile banking and wallet are enabled with NEPALPAY QR, go to the QR Scan option and ensure that the NEPALPAY logo is visible.
