June 12: Fonepay Pvt Ltd, Nepal’s first online payment service operator, has claimed to have reached more than 10,000 merchants in different market segments.
With over 14 different types of merchants, Foneypay registers over 50,000 transactions every month, the company said in a statement.
“Our ever-expanding network of banks and merchants has spread all over 7 provinces of Nepal. 60 percent of the merchants are located in Province 3 and the rest are in 6 different provinces of the nation,” the statement added.
Fonepay said its network brings together more than 50 member BFIs, which has been providing service to more than 7 million mobile banking subscribers across Nepal.
“Fonepay intends to further scale these capabilities with activation of more and more mobile banking users through its member BFIs and merchants network,” the statement further said.
Fonepay is a payment processing network that connects consumers, BFIs, merchants, governments and businesses in an interoperable network.