FonePay and VISA partnership has formalized. This will effectively allow foreigners to pay for services when they are in Nepal using FonePay’s QR.
Nepal’s prominent payment processor FonePay has collaborated with the VISA network to facilitate payment options. Both the companies signed their agreement in Kathmandu on Thursday, March 10th.
This agreement will facilitate international tourists for their transactions while they visit Nepal. From now on, any foreigner or a tourist on VISA’s network will be able to pay for services during their stay in Nepal.
While the service comes default to users, they must have access to a bank account that has VISA network availability. Likewise, users shall use the mVisa app for transactions. with mVisa, the international tourists will be able to pay through FonePay’s QR scan embedded in it.
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FonePay and VISA partnership for digital transformation
Making one after other strides, FonePay expects this collaboration to be another hallmark for the digital transformation of the country. With it, customers would have options to pay bills for shopping malls, restaurants, grocery stores, book stores, etc. Likewise, it will also be one of the best payment facilitators that could elevate tourists’ convenience for payment during their Nepal visit.
FonePay has recently integrated Khalti and PrabhuPay within its Scan & Pay network. Meanwhile, it is likely to further grow its network as NRB calls for interoperability within the next 6 months.
With this partnership, FonePay says it will integrate VISA payment service if Nepali banks introduce VISA services.
FonePay is Nepal’s largest payment processor that helps complete mobile payments. The network boasts over 5 lakh merchants and 14 million registered users so far. Being part of the growing Nepali Fin-tech and leading, it has been nothing short of a revolution for mobile payment in Nepal. Users of banking apps and digital wallets can pay their bills using Scan & Pay feature of FonePay.
How remarkable do you think the FonePay and VISA partnership will be for Nepali Fin-Tech, especially for international tourists? You can offer your impressions in the comments below.