Digital payment on rise in Nepal

With growing access to technology, digital payment is on rise in Nepal of late.

The digital transaction which gained much pace during the COVID pandemic has continued to rise till date. Nepal Rastra Bank (NRB) has also encouraged people for the electronic payment.

The latest record shared by NRB has shown that in the second month (Bhadra) of the current fiscal year alone, transactions of more than Rs 4900 billion were made via electronic medium.

The transaction of Rs 292 billion was made via Connect IPS. In the same period last year, the transaction of Rs 232 billion was done.

Similarly, the mobile banking in this month stands at Rs 146 billion. In the same period last year, it was Rs 74.32 billion.

Digital wallet transactions amounted to Rs 17.63 billion, while it was Rs 14.42 billion in the same month last year.