NEPALPAY QR crosses Rs 1 Billion Monthly Transactions

Monthly transaction in NEPALPAY QR for the first time has crossed over NRs. 1 Billion for the month of Ashoj, 2080, since it was rolled out six months back.  Similarly, merchant acquiring under NEPALPAY QR network by the banks & financial institutions and payment service providers has crossed over 4.25 Lakh merchants. This is one of the key milestones achieved in terms of both transaction value and merchant acquiring, which are expected to increase growth of QR payments. 

NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National Payment Switch (NPS) that operates as independent QR scheme and also facilitates interoperability of QR at issuing, merchant and network level. BFIs & PSPs have started issuing aggregated QR for interoperability at merchant level and most recently network level interoperability has also been established between NEPALPAY QR and SMART QR. BFIs and PSPs have already enrolled more than 4.25 lakh merchants in NEPALPAY QR network. And mobile banking of all commercial banks and that of the most development banks, finance companies and wallets can be used for scan & pay with NEPALPAY QR.  

The merchants and businesses can contact their respective banks & financial institutions for enrollment for NEPALPAY QR and start receiving QR payments from their customers. Such enrollment could be in a form of physical QR standee or integrated with billing system as dynamic QR or enabled in android POS or integrated QR based payment gateway in e-commerce portal. Voice based QR notification is also available in NEPALPAY QR in selected BFIs.