Nabil Bank Limited has successfully inaugurated Quick Response (QR) Payment Service in Dhumbarahi Vegetables and Fruits Store as a result of which customers can now easily make QR code payments using their mobile banking application or digital wallet. The program was formally inaugurated by Nepal Rastra Bank’s Executive Director, Mr. Bhuban Kadel in the presence of senior management staffs of Nabil Bank and executive members of Nepal Dhumbarahi Tarkari Tatha Falful Kendra.
QR code payments are a faster and hassle-free form of digital payments which serve as an innovative alternative to cash or debit/credit card payments with no transaction costs involved. Nabil Bank has been onboarding QR merchants since March 2020 to facilitate contactless payments and promote digital transactions. Currently, the Bank has 3,000+ QR merchants all across the country which is significantly growing by the day.
Speaking about the program, Executive Director of NRB, Mr. Bhuban Kadel said “In the recent days, the use of QR codes for payments has significantly increased in the market. This has been heavily contributed by financial institutions like Nabil Bank who are playing a significant role in enabling digital payments to enable financial access, financial inclusion, transparency and economic prosperity. With the increase in transactions, Nepal Rastra Bank is going to make necessary arrangements to maintain QR code more systematically.”
Likewise, Mr. Anil Keshary Shah, Chief Executive Officer of Nabil Bank said “Nabil QR Code is an easy, secure and affordable form of digital payment service, which we believe will have a significant contribution towards economic prosperity. With an objective to promote digital payments through QR, Nabil Bank has embarked in a mission to expand the access and reach of its QR Payment Service all across the nation.”
Nabil Bank is pleased to inaugurate Over the years, we have witnessed innovation in payment systems in Nepal as a result of which people are slowly shifting from cash to digital payments. Having said that, there remains a significant portion of transactions that are still done through cash. In today’s digital age, there is an imminent need to introduce innovative technologies that facilitate digital payments.’.
Nabil Bank is the pioneer private sector bank of Nepal. It has always been at the forefront in adopting new technology and introducing innovative products and services. With the launch of Nabil Digi Bank unit, the Bank is exploring digital avenues to cater to the customers’ needs. The Bank aims to be the first digital bank of the country and Nabil Digi Bank is progressively improving customer touchpoints and internal processes to achieve the goal.