NEPALPAY QR Crosses 2 Lakhs Merchants

Merchant acquiring under NEPALPAY QR network by the banks & financial institutions and payment service providers has crossed over Two Lakh merchants. This is a key milestone in further supporting the adoption of QR payments in Nepal to strengthen digital payment ecosystem.

NEPALPAY QR is the implementing infrastructure of NepalQR standard issued by Nepal Rastra Bank as part of the National Payment Switch (NPS). It operates as independent QR scheme and also facilitates interoperability of QR at merchant and network level. There are over 23 BFIs and 2 PSPs currently acquiring the QR. Similarly, there are over 16 BFIs and 4 PSPs whose mobile banking or wallets can scan for QR payment, with others in process of rollout.