Transactions of 1 Crore INR. recorded within 10 days of launching Nepal-Indian QR payments

Kathmandu: A transaction of 1 crore INR. (1 Crore 60 Lakhs NRs.) has been performed within 10 days after the launch of the cross-border payment system between Nepal and India.

The payment service began on 28^th Feb (16^th Falgun). With the launch of the service, Indians can use the Fonepay QR code to make payments using the Fonepay App of India and Bhim UPI App. According to Fonepay Chief Executive Officer Diwash Kumar Sapkota, daily transactions between 450-500 have been registered.

CEO Sapkota said that Indians were using the QR code of Nepal’s Fonepay to make payments using India’s Fonepay and Bhim App. On average daily, transactions of 10 Lakhs INRs (16 Lakh NRs.) have been registered after the launch of the service. He said that the transactions of 1 crore INR. (1 Crore 60 Lakhs NRs.) was recorded through the Fonepay network in the first 10 days of its launch.

Fonepay has made the strategy to expand the use of the QR code to a larger scale by identifying all the sectors, in which Indians were making the cash payments.

The company is even trying to make the payments easier for religious tourists in the religious sites. CEO Sapkota said that the company was even targeting religious tourists and focusing on making the QR payments more accessible for Indians in the peripheral regions of popular regions including the Pashupatinath, Manakamana, etc.