Fonepay Reappoints CEO Diwas Kumar for Four-Year Term, Eyes Expansion and IPO

Fonepay Payment Service Limited has reappointed its CEO, Diwas Kumar, for another four-year term, ensuring leadership continuity. Since becoming CEO in 2021, Kumar has played a key role in transforming Fonepay into Nepal’s leading digital payment network.

Under his leadership, the company introduced Nepal’s first open-loop QR payment system, expanded to over 2 million merchants nationwide, and achieved daily transactions exceeding 2.5 million, with values surpassing NPR 15 billion.

Fonepay has also expanded into cross-border payments and launched products like virtual credit cards. Looking ahead, Kumar plans to focus on cross-border interoperability, product expansion, and financial inclusion, while also leading the company toward its planned IPO in 2026.