Alternative Options for Electronic Payment in Nepal

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Dear readers, hope you are doing well. In today’s article, you will get to know about the alternative options for electronic payment in Nepal. With the rapid development of the internet and its use, many things around us have changed. More clearly, let’s say the world is moving forward towards digitalization.

In light of this, let’s take electronic payment as an example of the world moving towards digitalization. Though, the traditional way of payment is still there like cash and cheque. However, these days we see electronic payment every now and then.

Before we Begin…

Let’s know more about what is Electronic Payment

Electronic payment is the medium of making transactions or paying for goods and services with the use of electronic mediums. Electronic payment is a payment method that is accepted in most countries worldwide. There are different methods of electronic payment such as debit cards, credit cards, charge cards, etc. In addition, mobile apps web apps such as Google Pay, FonePay, PayTM, AliPay, etc. are some of the global apps for electronic payment.

Whereas, some of these global electronic payment systems are available depending upon the region.

Correspondingly, in Nepal too, there are some very popular electronic payment systems like E-Sewa, and Khalti. Especially, it is popular among the young generation.

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Quick Disclaimer

In this article, we have included only the alternative options for electronic payment systems in Nepal. This means the most popular ones like e-Sewa, Khalti, FonePay are not included in this list.

Here is the list of Alternative Options for Electronic Payment in Nepal.

IME Pay

At first, we have IME Pay in the list of alternative options for electronic payment systems in Nepal. IME Digital Solutions is the founder of IMEPay. IME Pay is one of the alternative options for payment of services and goods, pay restaurant bills, pay utility bills, recharge mobile, purchase goods online, send money person to person as well as withdraw money.

Users can load money in their IME Pay app from a bank. Also, we can load IME Pay by using mobile banking, remittance, or IME / IMEPay agent. Users can send/transfer money to other users too. It is available in most districts of Nepal. In addition, it has a good public review as well.

IME Pay is compatible for Web, Android, and iOS.

Click here for official website

Download from Play Store

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FonePay

Another, widely used E-payment system in Nepal is Fonepay. It is an electronic payment mode that enables consumers, banks, and merchants to connect for mobile/digital payment. It is a product of F1Soft International Pvt. Ltd. It was established in 2004 A.D.

Besides, FonePay is mainly used to send and receive money and also for payment of goods and services, pay restaurant bills using QR payment mode. It has over 150000+ merchants all over Nepal. The public is positive and responds well about this electronic payment system.

It is compatible with Web, Android and iOS.

Click here for the official webisite of FonePay

Download from Play Store

Download from App Store

Connect IPS

Next up, we have Connect IPS as another alternative option for electronic payment in Nepal. It is a payment gateway especially used for interbank fund transfer. Also, users can make payments of services like tax, Lok Sewa, passport, company registrar, travel and tour, school/college fee, stockbrokers, insurance premium, and many more.

Connect IPS is a product of Nepal Clearing House Limited. It is one of the safest method of electronic payment systems in Nepal. As well as that, it has a very positive and satisfying public review.

It is compatible with Web, Android and iOS.

Click here for the website of Connect IPS

Download from Play Store

Download from App Store

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QPay

QPay is another alternative option we can choose for electronic payment in Nepal. It is an easy, fast way to make payments for any services and goods. QPay is a service of Que Pay Pvt. Ltd.

Also, once can send money to QPay users’ easily. Likewise, through QPay one can also pay the utility bills like TV, internet, electricity, mobile top up, taxi booking, restaurant bills etc. It has a good public review which means people are positive about using QPay.

It is compatible on Android, iOS and web.

Click here for the official website of QPay

Download from Play Store

Download from App Store

SCT-MoCo

Now, here is SCT-MoCo. It is one of the alternative options for online payment in Nepal. As matter of fact, SCT-MoCo is linked with ATM cards on the users and the payment can be done through the app. One can easily pay the bills of telephone, internet, television, electricity, water, flight booking, etc. through SCT-MoCo.

It was introduced by FOCUSONE Payment Solutions Pvt. Ltd in May 2014. This system is new to many. However, people are slowly getting used to it and have very good responses about this system.

SCT-MoCo is compatible on web, Android, and iOS.

Click here for official website

Download from Play Store

Download from App Store

iPay

Next up, we have iPay in this list of alternative options of electronic payments in Nepal. iPay is a product of iPay Pvt. Ltd. Users can easily pay electricity bills, internet bills, telephone bills, and other utility bills ina minute using iPay.

As well as that, users can also book flights for domestic airlines such as Yeti Airlines, Buddha Air, Simrik Air, and Saurya Airlines. Likewise, iPay also makes it easier to book tickets for buses and movies. and pay restaurant bills using iPay. iPay also supports payment for online shopping. Many users are satisfied and are giving positive reviews for iPay.

It is compatible for web, Android, and iOS.

Click here for website

Download from App Store

DPaisa

Another alternative option for electronic payment in Nepal is DPaisa. DPaisa is a product of Goldmine Business Group. Dpaisa is a digital wallet and an electronic payment system that supports the transfer of funds, bill payments, mobile recharges, domestic remittance, shopping, wallet payments, and pay utility bills in a few clicks.

It is another alternative that people choose for electronic payment. These days more people are attracted to electronic payment systems. Correspondingly, the public is positive about DPaisa as well.

It is compatible for web, Android, and iOS.

Click here for official website

Download from Play Store

Download from App Store

PayWell Nepal

Subsequently, now we have PayWell on this list. PayWell is a service of PayWell Nepal Pvt. Ltd. The service is approved by Nepal Rashtra Bank and was launched on the 18th of April, 2019.

Through PayWell, one can easily transfer money and pay for utility expenses. The utility expenses include electricity bill, water, internet, telephone, etc. Customers of PayWell Nepal are increasing day to day in hundreds of numbers. This means that they are satisfied with the service of PayWell Nepal.

It is compatible for web, Android, and iOS.

Click here for the website of PayWell

Download from Play Store

Download from App Store

EPay

Finally, we have Epay as another alternative option for digital payment in Nepal. Epay is an alternative option for payment of utility bills like internet, electricity, water, and telephone.

Epay is a product of Nepal Electronic Payment System Pvt. Ltd. Users can easily perform their financial transactions using EPay. Moreover, the users have positive reviews for EPay.

It is compatible for web and Android.

Click here for website

Download from Play Store

Last but not the Least

Besides these E-payment systems in Nepal, there are other service providers too Npay, Prabhu Pay, etc. Apart from these alternative options, mobile banking is another very popular method of electronic payment in Nepal.

Mobile Banking

Mobile banking is also one of the E-payment systems widely used in Nepal. Well, mobile banking services are provided by banks for their customers to make their financial transactions using their mobile device.

Most of the banks have their own respective app for providing services to their clients. Furthermore, using mobile banking users can fund transfers, Top Up & Recharge, pay Electricity & Water bills, TV Payments, pay School & College fees, Credit Card payments, as well as Insurance/ Finance/ EMI payment, can be done.

To sum up, the use of mobile banking is gradually growing in Nepal. It is located widely in all places with internet facilities. Users can download mobile banking apps from the respective banks’ websites.

On the EndNote…

Alternatives for Electronic Payment in Nepal

Speaking of challenges… for online payment in Nepal, there are different factors that reduce the speed of the electronic payment systems in Nepal. For instance, lack of electricity in rural places and geographical conditions have made it difficult to establish internet and communication, electricity facilities in remote places. These are some of the major obstacles that are affecting the trend of electronic payment systems in Nepal.

Speaking of opportunities… these different electronic payment mediums are helping to promote local businesses and entrepreneurs. In particular, these service providers are encouraging local businesses and entrepreneurs to increase their profit and business. Merchants and users of electronic payment systems are growing daily. If the E-payment system can reach all the citizens of Nepal.

Definitely, it can boost the economy of our country. Likewise, the cost of producing cash can be minimized, as well as people’s life will be easier and of quality.

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