IME Pay, Khalti, and PrabhuPay have joined the NEPALPAY QR network. Now, users of the first three digital wallets will be able to Scan & Pay using the QR Scan & Pay feature of the NEPALPAY mobile payment network. Nepal Clearing House Limited (NCHL) announced the partnership on July 10, 2023, at a formal program in Kathmandu.
Nilesh Man Singh Pradhan, Chief Executive Officer (CEO) of NCHL, Prabin Regmi, CEO of IME Pay, Khalti CEO Binay Khadka, and Rabi Sigdel, Operations and Finance Head of PrabhuPay, and representatives from BFIs were present in the program.
Now, users of IME Pay, Khalti, and PrabhuPay can use QR to pay at NEPALPAY merchants for goods and services.
With the three digital wallets coming aboard the NEPALPAY QR network, the number of the total banks and financial institutions (BF/Is) and wallet apps using its QR payment service has reached 33. Out of the total, 25 BFIs in their mobile banking apps, and 9 PSPs have integrated NEPALPAY QR in their mobile payment services.
NEPALPAY QR is operated under the National Payment Switch (NPS) project and maintains QR interoperability as per the Nepal QR standard. NEPALPAY QR is capable of establishing interoperability at apps, merchants, and network levels.
As a growing payment processor, NEPALPAY QR is gradually broadening its access thanks to its integration with multiple mobile banking apps and mobile wallets. QR payment is becoming hugely popular in post-Covid Nepal and more such initiatives are helping towards the formation of a Digital Nepal fostering a base for the cashless economy.