QR code payment increases

Kathmandu: Nepal Rastra Bank (NRB) has introduced QR codes in various sectors to promote digital payment system and the number of payers through codes has increased. Till last month, the minimum amount paid through QR code was Rs. 500 million in January.

As per the report made public by Nepal Rastra Bank, more than Rs. 467 million has been transacted in January alone as compared to last December. The turnover was Rs 1.24 billion in December, compared to Rs 1.71 billion in January.

Of the 372,176 transactions last December, 535,790 transactions were made in January. Recently, the transaction amount through Connect IPS, Mobile Banking, Internet Banking and Wallet has been increasing. Compared to last month, online transactions have increased by Rs 10 billion in January alone.

According to the data released by the NRB till mid-January, transactions through Connect IPS, Mobile Banking, Internet Banking, QR Scan and Mobile Wallet alone increased by Rs 163.87 billion in January alone.

A total of Rs. 153.17 billion was transacted in December using the technology. According to the bank’s data, more than Rs 104.39 billion has been transacted through Connect IPS in January alone. Connect IPS has been used 1.545 million times in that period.

A total of Rs 38.59 billion was transacted through mobile banking in January. A total of Rs 33.15 billion was transacted last December. In January, 96 lakh 72 thousand 478 transactions have been made through mobile banking.

A total of Rs 9.22 billion has been transacted through internet banking. There have been 31 thousand 482 transactions in January. A total of Rs 9.65 billion was transacted through wallet in December, an increase of Rs 9.94 billion in January. A total of 15.11 million transactions have been made in a month.

Similarly, out of 843 million transactions made online (e-commerce) in December last year, the amount increased to Rs 932 million in January.