The Nepalese digital wallet industry is witnessing a rapid increase with new online payment gateways joining in every day. With increasing payment options such as digital wallets, debit cards, online payment portals, scan to pay services and etcetera, Nepal seems to be taking giant steps towards becoming a cashless nation.
Cashless transactions in Nepal are increasing by leaps and bounds. According to Nepal Rastra Bank, cashless payments transactions increased by NPR 263 billion approx. in 2017 to NPR 712 billion approx. in 2018 and 1,559 billion approx. in 2019. The growth is not surprising since digital payments are easier to use and convenient as well.
Increase in online shopping trends, small businesses adopting online payment collections, and schools also accepting online fee payments are just some of the indications of growing digital transactions. Moreover, eSewa’s initiation in collaboration with organizations like Dhurmus Suntali, Snow Yak Foundation and Manav Sewa Ashram for online donation collection is an example of how moving towards a cashless system can benefit the society.
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