•      Wed Jun 19 2024

Digital payment on rise in Nepal

Nepal Rastra Bank (file photo)

Kathmandu: 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 rise till date.

Nepal Rastra Bank (NRB) has also encouraged people for the electronic payment. The latest record shared by NRB has showed that in the second month (Bhadra) of the current fiscal year alone, transaction of more than Rs 4900 billion was 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 transaction amounts Rs 17.63 billion, while it was Rs 14.42 billion in the same month last year.