Switching to a cashless means of payment has never been easier in Nepal! Now, you can scan any QR with IME Pay.
Quick Response codes, more popularly known as QR codes, have played a vital role in the rapid advancement of mobile payment services. It allows businesses to accept digital payments with minimal effort, without having to invest in any pricey equipment. As the name suggests QR codes allow businesses to receive instant payments which are highly secure and reliable.
We have come a long way in the acceptance and usage of QR codes. In today’s technologically forward era, there are many mobile apps that allow us to easily scan QR codes to perform several tasks, payments being one of them. All you need to do is open the in-app camera and hover over the QR code. It instantaneously identifies and prompts the action assigned to the code. The user can complete the operation with a few taps on their screen.
To the present date, NRB has licensed 10 PSOs (Payment System Operators) and 27 PSPs (Payment Service Providers) to provide QR code payment services in Nepal. IME Pay, Fonepay, Smart QR, and a few others are some of the most widely accepted among them. Moreover, many major commercial banks have also launched their own mobile banking apps that support QR-based payment; over 50 of which are powered by Fonepay.
However, the technological advancement and variety in the digital payment industry of Nepal ushered in one major issue; users needed to operate separate mobile wallets for separate QR codes available for the payments throughout the country. This created a burden to download different wallets as per the QR service operators and providers available at any given vendor.
To solve the issue at hand, on March 1, 2021, Nepal Rastra Bank brought Nepal QR Standardization Framework and Guidelines into effect; a guideline for integrated QR-based payments in Nepal. This guideline now allows PSOs and PSPs to develop an integrated system where almost all the QR payments could be accepted by a single wallet/payment system.
Paying attention to the aforementioned situation, IME Pay has integrated majorly used QR code-based services into its system to provide a one-stop solution. As of March 19, 2021, all QRs available in Nepal can be scanned from the IME Pay app. With this integration, now IME Pay accepts QR payments from Smart QR, FonePay, UnionPay, and IME Pay itself; some of the most widely accepted QR payment service operators in Nepal. IME Pay App is the only electronic payment service provider app with which you can pay by scanning all QRs. One app that scans it all!
In view of the increasing trend of QR payments in Nepal, it is believed that this service of IME Pay will further strengthen the Digital Nepal Campaign of the Government of Nepal.
Download IME Pay on your smartphone: https://onelink.to/imepay
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