QR Code Transactions in Nepal Triple Over Two Years
QR-based digital transactions in Nepal have tripled in two years, reaching 72.4 million monthly transactions between mid-July and mid-August. The total value of QR transactions in the first month of the current fiscal year was Rs 164.42 billion, as adoption expands across retail, transport, and services.
KATHMANDU, Sept 27 — The frequency of QR-based digital transactions in Nepal has grown three-fold over the past two years, as a large number of people adopt the payment platform for their daily economic activities.
Records with Nepal Rastra Bank (NRB) show that a total of 72,438,302 QR transactions were recorded in one month between mid-July and mid-August. During the same period last year, the number of such transactions stood at 40,236,413, while in the previous year it was 20,825,615. Over the two-year period, the transaction number increased by more than 50 million.
With the expansion of QR-based payment facilities across shops, restaurants, the retail sector, transportation, and various services, the use of this method for small, everyday payments is on the rise.
In the first month of the current fiscal year, a total of Rs 164.42 billion were transacted through QR.