NRB Says Transactions Through Digital Payments Shot Up

NRB Says Transactions Through Digital Payments Shot Up

March 19, 2021, 4:28 p.m.

Payments through QR codes have shot up lately. Over Rs. 500 million more was transacted through payments via QR codes in one month alone (From January 14-February 12, 2021) reports RSS.

According to a report unveiled by Nepal Rastra Bank (NRB), transactions worth Rs 1.71 billion were made through payments via QR codes from January 14-February 12, 2021 against Rs 1.24 billion in the preceding month.

RSS reports that The month recorded 535,790 times transactions against 372,176 in the preceding month. Digital payments through connect-IPS, mobile banking, internet banking, and mobile wallets have increased lately.

Over Rs 163.87 billion was transacted through digital payments using connect-IPS, mobile banking, internet banking, QE codes, and mobile wallets from January 14-February 12, 2021 against Rs 153.17 billion from December 16, 2020-January 13, 2021.

As per the data of the bank, transactions worth more than Rs 104.39 billion were made from January 14-February 12, 2021 through connect-IPS. Connect-IPS was used for 1.545 million times during the period.

Similarly, transaction worth over Rs 385.970 million was done through mobile banking from January-14 to February 12 while Rs 33.15 billion was transacted from December 16, 2020, to January 13, 2021.

E-banking was used 31,482 times from January 14 to February 12 making the transaction of worth more than Rs 9.22 billion. Transaction through Wallet was increased from January 14 to February 12 to Rs 9.94 billion against Rs 9.65 billion from December 16, 2020, to January 13, 2021.

The transaction worth Rs 843 million was done through e-commerce from December 16, 2020, to January 13, 2021, and it was increased to Rs 932 million from January 14 to February 12, 2021.

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