April 14, Kathmandu- Nepal Rastra Bank has introduced QR codes in various sectors to promote digital payment systems and the number of people paying through codes has increased. Till last month, a small amount was paid through QR code, resulting in a turnover of over Rs 340 million. According to the current economic and financial situation report of the country 2020/2021 A.D., released by Nepal Rastra Bank, the turnover in February alone was Rs. 343 million more than last January.

The turnover in February was Rs 1.71 billion while in February it was Rs 2.55 billion. Similarly, five lakh 35 thousand 790 transactions were made in January last year and six lakh 35 thousand 738 transactions were made in February. Recently, the transaction amount through Connect IPS, Mobile Banking, Internet Banking, and Wallet has been increasing. Compared to last month, online transactions have increased by Rs 10 billion in January alone.

One trillion turnovers through Connect IPS

According to the data released by NRB till mid-January, more than Rs 1.5 trillion has been transacted in  Flagun alone through Connect IPS, Mobile Banking, Internet Banking, QR Scan, and Mobile Wallet. A turnover of Rs. 172.46 billion has been recorded in January alone. Last January, the turnover was over Rs. 163.87 billion. Compared to last January, the turnover in Phagun alone was Rs. 8 billion 176 million more.

Similarly, Rs 40.35 billion was transacted through mobile banking in January. Last January, the turnover was over Rs. 38.59 billion. In Phagun, 182,000 transactions have been made through mobile banking. A total of Rs. 8.88 billion has been transacted through internet banking. More than Rs 10.18 billion has been transacted through the wallet. A total of Rs 9.98 billion was transacted through the wallet last January. It has been traded 16.14 million times in a month.

Similarly, online (e-commerce) had a turnover of Rs. 932 million in January last year. Compared to last January, the e-commerce business has decreased by Rs. 28 million. E-commerce has generated a turnover of Rs. 904 million in February.