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FonePay’s Merchant Number Reaches 11 Lakh in Three Years After its Inception

If Nepal needs a new testament to the growing digital economy, it’s the fact that there are 11 lakh merchants on FonePay. The leading Payment Service Operator (PSO)’s daily transactions have also reached a whopping Rs 4 billion per day.

Steadily growing, FonePay’s strong network of merchants has surpassed 11 lakhs in a historic milestone. The payment network started with “Leave Cash, Do FonePay” has become one of the leading vehicles of Nepal’s digital payment transformation. Operated under F1 Soft International, FonePay is clearly the most dominant Scan & Pay QR-based payment operator in Nepal.

Also read: FonePay Receives the Excellence in Fintech Innovation Award

FonePay merchants number grow to 11 lakh

Releasing a press note on the milestone, FonePay extended gratitude to its merchants and customers who helped achieve the feat for the company. Diwas Adhikari, Chief Executive Authority of FonePay relished the record. He believes that the record reflects Nepal’s leap in digital transactions.

“We started with a vision to make Nepalese society cashless by promoting a digital economy. Having a million merchants in a short time has further encouraged us,” he said.  

FonePay is a payment processor licensed by Nepal Rastra Bank. It connects customers, banks, financial institutions, government, etc into its network to facilitate electronic transactions. For safety, it follows the standard of safety procedures ” The Payment Card Industry Data Security Standard (PCI DSS)”.

Check out: Top 5 Digital Wallets in Nepal: Updated (2022)

So far, it has added 63 banks and financial institutions to its network. On the other hand, over 1.7 crore people use FonePay for easy transactions.

How often do you use Scan & Pay to clear the bills through FonePay? Do you find it reliable? Do let u know in the comments below.

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