Online Payment System Gateway In Nepal

Share It On:

Online Payment System is a process in which there is a significant transaction of money electronically. Mainly this involves the use of computer networks, digital stored value systems, and the internet. The online payment system is done by the use of a credit card or method of PayPal, Skrill, Dwolla, etc. It is the process of buying and selling of goods and services where transmission of data done on the Internet.

Online Payment System in Nepal is gradually increasing as it helps in sending and receiving the money online, buy air tickets, pay utility bills, purchase mobile recharge cards, pay school college bills, internet bills, subscribe newspaper and magazines online, etc. eSewa Nepal, iPay, Khalti, e-banking, etc. So Online Payment System has made the livelihood of people’s life easier.

How Online Payment System Works?

Online Payment process follows the following steps.

Step1: Purchase phase

Once the user is ready to purchase, then click the buy button on the sites checkout page and enter the payment information. Then the credit card is then encrypted and captured by the payment gateway. Security is very much crucial throughout the payment process. Here the Customer submits the payment information to the merchant.

Step2: Routing and Processing Phase

The merchant submitted the payment information to the online gateway. The online payment gateway sends the payment information to the payment processor.

Step3: Approval phase and Confirmation

The payment processor authorizes the payment and responds to the payment gateway. Then the payment gateway reacts back to the merchant. At this point, the merchant will get the confirmation of whether or not the transaction is successful or not.

Step4: Fulfillment

After the above process completion, the goods will provide to the user.

In Nepal, there are various Online Payment systems. Some of them are:

 1.Khalti

Khalti is a payment service provider which is owned by Sparrow Pay Private Ltd. Some of the partnered banks are Machhapuchchhre Bank Limited, Nepal Investment Bank. Here Khalti to a bank, Bank to khalti or khalti to Khalti is all possible. It is very compatible to both on the web as well as mobile device. This gateway is being very popular in recent months. Khalti is a digital wallet for an instant, secure online payment in Nepal. Recharging your mobiles, paying bills, air tickets wherever you are and whenever you want.

2.iPay

iPay is another popular payment gateway in Nepal which was developed by Muncha.com. We can add money to our iPay account using mobile banking or e-banking service. It allows the users to process all the types of online payments as for the purchase of the product online telephone recharge cards etc.

3.eSewa

eSewa is the first payment gateway which established in 2009 January. Since it was the first electronic payment, it was very much popular than others. eSewa was linked up with more than 45 banks in Nepal. eSewa was compatible both on web and mobile device. Some of the eSewa Clients are Global IME Bank, NMB Bank, MEGA Bank, etc.


Share It On:

Recent Posts

NRB’s NPR 6.8 Billion Investment: Strengthening Nepal’s Financial Future and Banking Stability

NRB’s NPR 6.8 Billion Investment: Strengthening Nepal’s Financial Future and

Share It On:23rd November 2024, Kathmandu Nepal’s Central Bank, Nepal Rastra Bank (NRB), has announced a significant investment of NPR

Nepal’s ADB Prioritizes Farmers’ Welfare for Economic Growth and Agricultural Development

Nepal’s ADB Prioritizes Farmers’ Welfare for Economic Growth and Agricultural

Share It On: 23rd November 2024, Kathmandu The Agricultural Development Bank (ADB) is recognized as a vital institution for Nepal’s

Ridi Power’s 23rd AGM Concludes: Key Decisions, Investments, and Future Outlook

Ridi Power’s 23rd AGM Concludes: Key Decisions, Investments, and Future

Share It On: 23rd November 2024, Kathmandu Ridi Power Company Limited wrapped up its annual shareholder meeting, the 23rd Annual

Nepal Oman Financial Ties Strengthen: Omani Rial Now Legal Tender In Nepal

Nepal Oman Financial Ties Strengthen: Omani Rial Now Legal Tender

Share It On: 22nd November 2024, Kathmandu A significant step has been taken towards strengthening financial ties between Nepal and

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future Plans

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future

Share It On:22nd November 2024, Kathmandu Liberty Energy Company Limited is gearing up to issue rights shares starting December 1,

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Share It On:22nd November 2024, Kathmandu Asha Laghubitta Bittiya Sanstha is holding its 8th Annual General Meeting (AGM) today, November