6 Digital Payment Gateways bolstering payment processes in Nepal

By Gloria Mathias

Payment gateways are online payment processing systems that enable secure transactions between merchants and customers. Payment gateways are mediums chosen for their seamless transaction services, mitigating the risks of payment fraud and breaches. In Nepal, digital payment gateways have emerged as vital stakeholders, revolutionising the way Nepalese individuals, businesses, and institutions manage their finances and transact consistently.

According to an IBS intelligence report, rapid digitalization in the payments sector is the primary trend in the market. In the post-pandemic society, digital currencies, biometrics, and real-time payments are becoming more popular and widely accepted by customers to reduce the demand for cash. Furthermore, technology is expanding to new use cases as its adoption continues to provide contactless payment choices for restaurants and retailers.

Dynamic real-time payment credit has also allowed retailers to scan customer codes, where the system detects fraud automatically. As a result, the worldwide real-time payments industry could see growth because of the increase in developments and efforts toward digitalized payments. Such factors are expected to fuel the growth of the market during the forecast period.

Listed below are the 6 digital payment gateways in Nepal:

• CellPay

CellPay is a Nepal Rastra Bank-licensed payment service provider, providing both bank links and wallet facilities from the same app. It is a mobile application that has been uniquely placed with a dual feature of a digital wallet and bank link facility easing customer needs.  CellPay has a merchant network of more than 200,000 as of now. CellPay customers can simply scan the QR available within the Fonepay and CellPay networks and make payments via their bank account or their wallet balance.

• eSewa

eSewa is the pioneer digital wallet of Nepal that facilitates real-time, secure, and instant digital payments to various merchants. eSewa has been able to simplify people’s lives since its inception by facilitating online mobile recharge, Internet bill payments, airline and bus tickets, movie tickets, bank transfers, education fee payments, insurance premium payments, and scan and pay.

• Fonepay

Fonepay is Nepal’s payment network, licensed and regulated by Nepal Rastra Bank as a Payment System Operator (PSO). Fonepay connects Banking and Financial Institutions, Digital Wallets, Consumers, and Merchants in its interoperable network and facilitates various Person-to-Person (P2P) and Person-to-Merchant (P2M) payments and offers other services aligning with instant, easy and convenient money movement.

• Khalti

Khalti is a mobile wallet, payment gateway, and service provider in Nepal. It was launched in January 2017. It allows users to pay for a range of services like basic utility payments, hotel bookings, movie and domestic flight tickets, events, and many more. It offers payment solutions to hundreds of merchants across Nepal and provides seamless payments using eBanking, smart banking, cards, and wallets.

• Prabhu Pay

PrabhuPAY App allows its users to simplify the payment process. With this app,  consumers can easily make payments for the goods purchased and services rendered. Quick recharge and easy payment of various utility bills make this app more user-friendly, and on top of that consumers can also transfer small-value funds to the consumers within the PrabhuPay network.

• Namaste Pay

Namaste Pay is a new payment service provider promoted by Nepal Telecom and Rastriya Banijya Bank. It aims to provide one-stop digital payment solutions for multiple categories of goods, services, and other financial transactions. Through a nationwide network of distributors, agents, merchants, banks, and retailers, it shall provide cash-in, cash-out, and a wide variety of payment services.