From smartphone top-ups to airline tickets, paying insurance premiums, all sorts of online payment systems have been available in eSewa and are still counting in.

Recently, the Inland Revenue Office's online payment service was launched in eSewa, a admirable effort to bring government payment services under the shade of digital payment systems. eSewa has launched a new service where you can pay traffic fines online, continuing its persistent effort to add value to its clients. The facility to pay for traffic has now also been introduced by eSewa.

 
The Metropolitan Police Traffic Division has begun to collect a fine through an online payment system from traffic law violators.

The MTPD inaugurated the new online payment system, “An integrated system has been developed between the Traffic Division Violation Record System, Revenue Management Information System, and payment systems. Through the system, the fine amount is deducted from the bank account of the traffic rule violators,” said Senior Superintendent of Police Janak Bhattarai, chief of the MTPD.

“The newly-introduced system will help in reducing big crowds in traffic offices. Once the fine amount is paid, rule violators should come to the traffic police office to collect their documents,” said Bhattarai, adding that the rule violators do not have to queue up at banks to pay the fine amount now onwards.


 

Violators of the traffic law can pay the fine via eSewa. “The Division is also initiating talks with other digital service providers to introduce ‘Traffic Police Fine Payment’ option in their platforms,” he said.

The option of 'Traffic Police Fine Payment' can be found in Esewa and IPS Connect, through which violators can pay the fine amount.

“Violators have to log in to their Esewa or IPS Connect account, and should enter the number of the slip provided by traffic police. After paying the amount, they can visit the respective traffic police office to collect their documents,” said Superintendent of Police Shyam Krishna Adhikari, spokesperson for the division.
 

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The electronic transaction is found have been increasing as a result of the lockdown imposed by the government to stem the spread of the Coronavirus. As of the second week of the lockdown, e-transaction worth Rs. 35.6 billion has been recorded, according to Nepal Clearing House Limited. The transaction was worth Rs. 18.6 billion in the first week of the lockdown. The NCHL has been using five national payment systems including the NHCL-ECC, NCHL-IPS, Connect IPS, Connect RTGS and NPI. Almost all the banks including the central bank, Nepal Rastra Bank are affiliated to the system.

Among the systems, electronic cheque clearing (NCHL-ECC) and Inter-banking payment system (NCHL-IPS) will provide clearing until the situation turns normal. Likewise, the NHCL-ECC clears the cheque collected by 1:30 every day and the NCHL-IPL of the payment order received until 1:00 pm, and the clearance is done on the same day. Those received after the deadline are cleared the next day.

The NCHL's connect IPS provides mobile and e-banking business and transaction round-the-clock through its mobile application and website and that of the particular banks. 

E-wallets mostly used to top-up mobiles, cable and internet during the Coronavirus lockdown

A countrywide lockdown to stop the spread of the coronavirus, e-wallets have become the best option for people to top-up the balance in their mobile phones. As per service providers, use of digital wallets has increased significantly. People are unable to go outside to purchase recharge cards and even the related Telecom providers are unable to supply recharge cards in the market. Hence, the digital wallet has become the best option for mobile top-up.

Likewise, people are also using the digital wallet for payment of cable television and internet bills. Moreover, e-wallets service providers creating awareness among people regarding the significance of digital wallet to go cashless. Banks and other government and private sector offices are all encouraging online payment to maintain social distance.

Meanwhile, some internet service providers have also provided internet service even after the subscription time has expired as people are unable to go outside to pay bills.

The major part of the digital transaction has been somehow affected due to the lockdown. Yet, people are becoming more aware, which could be beneficial in the coming days. The increasing threat of coronavirus, the Nepal Government has also recommended citizens to go cashless and use digital platforms for financial transactions.

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Technological advancement in today’s world has led to digitization of money. Cashless economy, nowadays, has become the goal of several countries. Introduction of cryptocurrency and digital wallets are major step towards cashless economy.

Digital Wallet, also known as e-wallet or mobile wallet, is a virtual wallet that is operated online through internet. It is also known as online payment gateway. Digital wallet enables one to complete their financial activities and transactions through few clicks and swipes. In context of Nepal, since 2009 several digital wallets have been developed and licensed as Payment Service Provider.     

5 Best Digital Wallets in Nepal

eSewa 

Launched in 2009, eSewa is Nepal’s first online payment gateway. It has also been licensed by Rastra Bank as Payment Service Provider. Pursuing their goal to create a cashless economy, it is covering almost every sector and is always expanding their services.

Having largest group of users makes eSewa the topmost digital wallet in Nepal. Some of the services of eSewa are: utility bill payments, school fees payment, movie and flight ticket bookings, insurance premium payment, etc.

Khalti

Launched in January 2017, Khalti can be regarded as emerging and rapidly growing mobile wallet, payment gateway and service provider. Their goal is to simplify the lives of people by bringing financial inclusivity to every individual in Nepal and take the payment industry from offline to online through best practices.

Having best technical team and innovative actions makes Khalti second best digital wallet in Nepal. Some of the services provided by Khalti are: utility bill payments, hotel bookings, movie and domestic flight bookings, events, etc.

Other than phone application, it also has a web version. Also, it has a biometric security option that facilitates the user to carry out their transactions by a simple touch of the fingertips.        

IMEpay

IMEpay is a mobile money service launched by IME Digital in order to provide digital payment solution. It has also been licensed by Rastra Bank. IMEpay, one of the emerging digital wallets, aims to cater vast majority of banked, unbanked and under-banked customers of Nepal. 

IMEpay, a Fintech mobile application, provides services like Remittance service, bus and cable car ticketing, domestic flight bookings, utility bill payments, ISP payment, etc.        

PrabhuPay

PrabhuPay allows its users to simplify the payment process. With this App, the consumers can easily make payments for the goods purchased and services rendered. Also, users can transfer small value fund to consumers within PrabhuPay network.

Being a digital wallet from the Prabhu group, it provides various services such as utility bill payments, insurance premium, internet and TV bills, etc. 

Comparatively, PrabhuPay is a new digital wallet and lacks in some features; however, it is very efficient in its current state.

I-Pay

Launched in 2010 by Muncha.com, IPay excels in online shopping while compared to others. IPay exclusively rewards its customers in almost all payments or transactions. It provides services such as: top-up, utility bill payments, flight and ticket bookings. IPay is also planning on expanding its services.  

Besides these, there are several other digital wallets in Nepal that didn’t make it to the list of top 5 e-wallets such as QPay, EnetPay, etc. All these digital wallets are directing our country, Nepal towards a better future and eventually towards cashless economy.

 

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