Digital payments double to Rs1.22 trillion in first quarter

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Nepal’s digital payment platforms saw a 94 percent year-on-year jump in business in the first quarter as consumers took to paying online for daily essentials at local stores besides premium products.

Digital payment refers to contactless transactions made via online methods as opposed to cash payments made physically.

According to Nepal Rastra Bank, the country’s central bank, digital payments almost doubled in the first quarter of the current fiscal year, started mid-July 2021, mainly due to an increase in the number of people adapting to online payment.

Turnover in the first three-month period (mid-July to mid-October) reached Rs1.22 trillion compared to Rs630.85 billion in the same period in the last fiscal year.

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According to the central bank, digital payment platforms saw the highest monthly turnover of Rs470.51 billion between mid-September and mid-October, coinciding with the f


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