Every so often, we have heard someone say something negative about the payment industry in Nepal, nobody came in front to confront those comments as they were vastly true. At nPay we tried to work around on those sort of comments, we tried to understand what actually is the problem and how can we solve it? The Solution for this came very easy to us and the answer was nobody “really tried” to solve these problems.
Recently I had an opportunity to visit a conference of bankers in Nepal, the main question there was “How many Internet Banking users do we have”? Many banks had different answers but the main gist of the answers were, it is decreasing and why wont it decrease? What have banks given to their users ? At this digital age simple window for basic top-up or statement view, is it enough? Absolutely not.
nPay became the first company to introduce payment aggregation in Nepal. Currently around 500+ live merchants use various bank’s e-banking and mobile banking to pay for various goods and services. Those 500+ merchants are common merchants for all the associated banks of nPay as well as those associated banks are common banks for all the enrolled merchants. Basically nPay acted as a bridge for digital payment acceptance. The following act provided 3000 new transactions to a single bank last month alone.
Consumer adoption of digital payment in Nepal is still not where the industry wants it to be, the best example for this is, poorly accepted POS terminal payments. When every another entrepreneur wants to sell some goods or services digitally, payment acceptance becomes a biggest hurdle. At nPay we try to tailor fit various payment services and serve them, so they can accept payments with ease.
Recent crowd at nPay mechants were of “eWallets”, they didnt want to compromise their branding and didnt want to use our logo or portal for payments. Our team came up with an idea of “White-labeling” the product. This gave great pleasure to those “eWallets” and currently almost every eWallet uses our white label solution which not only provides them ease of payment acceptance, it also save their time a lot of time indeed. Thats why we focus on the word “Tailor Fit”.