Fonepay and Employee Provident Fund Launch Groundbreaking API-Based Payment Integration

Fonepay Payment Service Ltd. and the Employee Provident Fund (EPF), also known as Karmachari Sanchaya Kosh, have announced a strategic partnership to implement API-based Host-to-Host (H2H) payments. This integration will connect EPF's ERP system with Fonepay’s payment infrastructure, facilitating various types of corporate payments, including business-to-business (B2B), business-to-government (B2G), and business-to-consumer (B2C) transactions.

The partnership allows EPF members to pay their provident fund loans easily through multiple digital platforms, such as mobile banking apps and internet banking, enhancing financial accessibility and efficiency. Diwas Kumar, CEO of Fonepay, highlighted that this collaboration aligns with the Digital Nepal vision and aims to improve financial services for all Nepalis. Darshan Bhattarai, Acting Chief Manager of EPF, emphasized that this move modernizes financial services, making loan repayment quicker and more accessible for members.

Fonepay, a Payment System Operator in Nepal regulated by Nepal Rastra Bank, is committed to fostering a cashless economy through secure and efficient digital payment services. As an ISO/IEC 27001:2022 certified subsidiary of the F1Soft Group, Fonepay focuses on technological innovations in mobile payments.

EPF is dedicated to providing exceptional social security services, leveraging digital technology to enhance service delivery and member satisfaction. Their online platforms allow members to access a wide range of services, significantly improving efficiency and reducing wait times for assistance.