Online Payment System Gateway In Nepal

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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.


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