FonePay Ushers in a New Era of Digital Credit with Nepal’s First Domestic Credit Card Network
In a groundbreaking move that is set to redefine the payment landscape in Nepal, Fonepay Payment Service Limited has unveiled the country’s first-ever domestic credit card network.
This pioneering initiative marks a significant stride towards financial inclusivity and convenience, catering to the evolving needs of consumers and businesses alike.
Collaborating with the esteemed Citizens Bank International Limited, Fonepay has introduced a fully digital credit card, a first of its kind in Nepal.
This innovative offering empowers banks and financial institutions to provide their customers with a seamless and secure credit card experience, right at their fingertips through mobile banking applications.
Leading the charge, Citizens Bank International Limited has become the trailblazer, proudly issuing the nation’s inaugural digital credit card.
Customers of this forward-thinking institution can now avail themselves of this cutting-edge facility through the bank’s mobile banking app, ushering in a new era of convenience and accessibility.
Backed by the visionary Nepal Rastra Bank’s domestic card project, Fonepay has received the necessary regulatory approvals to operationalize its groundbreaking Fonepay Credit Scheme.
With unwavering confidence, the company believes that this revolutionary credit card will redefine the card payment industry in Nepal, propelling it into the digital age.
Seamless integration is at the core of this innovative offering, as Fonepay’s credit card can be seamlessly utilized at the vast network of approximately 1.4 million merchants currently affiliated with the company’s QR payment system.
This extensive reach ensures that consumers can enjoy the benefits of this digital credit card across a wide range of merchants, fostering a truly cashless and convenient payment experience.
As Nepal embraces the digital revolution, Fonepay’s domestic credit card network stands as a testament to the country’s commitment to innovation and financial inclusion.
With this pioneering initiative, the company has set the stage for a future where digital payments reign supreme, empowering consumers and businesses alike to thrive in an increasingly cashless society.
