26th October 2023, Kathmandu
NEPALPAY QR is now available for scan and pay from mobile banking apps of all commercial banks. Customers can now use the mobile banking of any commercial bank to scan NEPALPAY QR for merchant payments.
Most of the development banks, finance companies, wallets, and connectIPS mobile apps are also available for such scan & pay of QR at merchant points for making instant payments.
NEPALPAY QR on Mobile Banking
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.
This is one of the major milestones in establishing NepalQR interoperability through issuing instruments, which is expected to support growth in QR payments.
NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National Payment Switch (NPS) that operates as an independent QR scheme and also facilitates interoperability of QR at issuing merchant, and network levels.
BFIs & PSPs
BFIs & PSPs have started issuing aggregated QR for interoperability at the merchant level and most recently network-level interoperability has also been established between NEPALPAY QR and SMART QR. BFIs and PSPs have already enrolled close to 4 lakh merchants in the NEPALPAY QR network.
The merchants and businesses can contact their respective banks & financial institutions for enrollment for NEPALPAY QR and to start receiving QR payments from their customers.
Such enrollment could be in the form of a physical QR standee or integrated with the billing system as dynamic QR or enabled in Android POS or integrated QR-based payment gateway in the e-commerce portal.
Most recently voice-based QR notification has also gone live with some of the BFIs.