Cash-less Transactions

In a good sign for the country and its people, electronic payment transactions are increasingly gaining traction. According to latest macroeconomic and financial report based on three months of the current fiscal year released by Nepal Rastra Bank (NRB), the use of ATM, Connect IPS, mobile banking, wallet, prepaid card and Quick Response (QR) code has been increasing for financial transactions, with the use of QR soaring by most compared with the year before. This means that digital infrastructure underpinning such monetary transactions has been growing in the country, boding well for the overall development of the country and its economy. This also means that direct cash payment is dwindling in a mirror of a global trend. Even in vegetable markets, we see billboard after billboard urging customers to make payment through QR code.