NEPALPAY QR

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.

20th April 2022, Kathmandu

Mega Bank Nepal Limited has successfully integrated NEPALPAY QR in the Mega Smart Banking app, Now the Bank’s customers can scan and initiate NEPALPAY QR payments, available at various merchants and payment gateway.

The Bank has also initiated acquiring its business customers as merchants for managing their receivables via NEPALPAY QR.

Mega Bank is one of the first banks to join the National Payment Switch and to enable NEPALPAY QR.

The business customers of Mega Bank will also eventually be able to be enrolled as merchants to manage their receivables from their customers and also all the customer of Mega Bank can pay the merchants by scanning NEPALPAY QR using Mega Smart Banking App.

NEPALPAY QR has been implemented and operated by NCHL as an implementing infrastructure of the NepalQR standard issued by Nepal Rastra Bank as part of the National Payment Switch.

The infrastructure allows for the deployment of an independent QR scheme and facilitates the interoperability of QR at the merchant and network levels.

Apart from Mega Bank, NEPALPAY QR scan for making payments is available in the mobile banking apps of Himalayan Bank, Machhapuchchhre Bank, Sanima Bank, and Samriddhi Finance as well as other BFIs in process of initiating the scan and pay service.

The enablement of QR in the mobile banking app of Mega Bank is expected to further increase the digital transactions at the retail level, which has always been the major focus for the bank.

Mega Bank has been serving its customer from its 207 branches, 25 extension counters, 60 branchless banking points, and 140 ATMs spread across the country.

Please visit www.megabanknepal.com  for more details.