Digital payments and fintech saw record highs across the economy in 2020, as a substantial number of people decided to stay at home and maintain social distance due to the Covid 19 epidemic and lockdown measures. With concerns about catching new coronavirus infections by visiting bank offices and using currency notes, many people– not only in metros but also in smaller towns– have begun to use their smart phones to pay and even take out loans for more convenient banking services.
Fonepay is a digital payment processor that facilitates mobile/digital payments by connecting customers, banks, and merchants in an interoperable network. Fonepay is a subsidiary of F1Soft Group, a diversified Digital Financial Services (DFS) holding business that has been in operation since 2004.
Fonepay is also Nepal's first mobile payment network to be licensed as a Payment System Operator (PSO) by the central bank, as well as the country's first non-card based PSO to...