Last Updated on June 29, 2023
Nepal’s leading payment system operator FonePay has announced the joining of Namaste Pay digital wallet in its interoperable payment network. The collaboration allows government-owned mobile payment app users to scan and pay through QR scan at Fonepay merchants.
For cooperation, both Fonepay and Namaste Pay signed an MoU recently.
Chief Executive Officers of both the companies, Diwas Kumar Sapkota, and Prabin Raj Pokharel, signed the agreement papers at a recent event. The milestone moment had the presence of representatives from both the companies and media personnel.
The partnership allows digital wallet users to make instant, affordable, and convenient payments through the Fonepay network. It is an easy, secure, and popular electronic transaction system. Over 1.2 million merchants to date across Nepal have joined the Fonepay network to implement its digital payment system. Â
Smartphone users who have Namaste Pay will now be able to utilize Fonepay’s interoperable payment system and pay using a QR scan from the app.
Fonepay is Nepal’s most dominant PSO while Namaste Pay is one of the fastest-growing digital wallets in Nepal. The cooperation between the two will benefit the latter as its increasing base will benefit from easy QR payments.
Also read: Fonepay Integrated into Khalti, a New Fin-Tech Milestone
CEOs laud Fonepay, Namaste Pay partnership for digital payment
Fonepay’s Chief Executive Officer Diwas Kumar Sapkota expressed his delight with the partnership. He said, “We are delighted to welcome Namaste Pay into our growing payment ecosystem. This partnership aligns with our vision to provide a comprehensive digital payment experience to our users. By integrating Namaste Pay, we offer our customers a wider range of payment options and foster a more inclusive financial ecosystem.”
Likewise, Namaste Pay CEO Prabin Raj Pokharel shared similar enthusiasm. He said, “We are extremely happy to join hands with Fonepay and enable Namaste Pay users with access to 1.2 million Fonepay Merchants throughout the country. Namaste Pay users can also benefit from other Fonepay services with this partnership. We also look forward to making our customers’ digital journey smooth with our innovations and value-added services.”
The arrival of Namaste Pay on the Fonepay network could indeed be a remarkable break for the former. The latter is a powerhouse in Nepal’s fintech market and Namaste Pay is yet to break into the mainstream although growing more prominent by each day. So, the collaboration could help the mobile wallet expand and widen smartphone users’ access to it. Don’t miss: Digital Wallets Can Merge as NRB Clears The Way for PSPs and PSOs
How often do you use the Fonepay QR scan for mobile payments? Would the agreement help you with electronic payment o your next payment session? Don’t forget to share in the comments below.
