Machhapuchhre Bank enables NEPALPAY QR in its MBL M-Smart

Machhapuchhre Bank Limited (MBL) has successfully integrated NEPALPAY QR in its mobile banking app, MBL M-Smart, such that its customers can now scan and initiate NEPALPAY QR payments, available at various merchants and payment gateway. MBL has also initiated acquiring merchants for NEPALPAY QR. 

MBL is one of the first banks to join National Payment Switch and to enable NEPALPAY QR. MBL has over 6 lakh mobile baking users and has already acquired over 6,500 QR merchants. The business customers of MBL can now be enrolled as merchants to manage their receivables from their customers using MBL M-Smart or any other instruments enabled with NEPALPAY QR.

NEPALPAY QR has been implemented and operated by NCHL as an implementing infrastructure of NepalQR standard issued by Nepal Rastra Bank as part of the National Payment Switch. The infrastructure allows to deploy independent QR scheme and facilitates interoperability of QR at merchant and network level. Apart from MBL, merchant acquiring in NEPALPAY QR is already initiated by Himalayan Bank, NIC Asia Bank, Kamana Sewa Bikas Bank and Focusone Solutions Pvt. Ltd. as well with other BFIs in process of initiating the acquisition.

The enablement of QR in the mobile banking app of MBL and acquiring of merchant QR is expected to further increase the digital transactions at retail level, which has always been the major focus for the bank. MBL has been serving its customer from its164 branches, 8 extension counters, 165 branchless banking points and 203 ATM spread across the country.