# Nepal — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/NP
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **NEPALPAY QR** is the national interoperable QR standard
- **NCHL** (Nepal Clearing House Limited) operates infrastructure
- **Fonepay** is the largest payment network
- **India UPI cross-border** active (March 2024)
- **800,000+ merchants** accepting QR payments

## Banking landscape

### Central Bank
- **Name:** Nepal Rastra Bank (NRB)
- **Website:** https://www.nrb.org.np/
- **Role:** Monetary policy, payment systems regulation

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Nepal Bank Limited | State-owned | NBL Mobile |
| 2 | Rastriya Banijya Bank | State-owned | RBB Mobile |
| 3 | Nabil Bank | Private | Nabil Smart |
| 4 | Nepal Investment Bank | Private | NIB Mobile |
| 5 | Global IME Bank | Private | Global Smart |

### Market Structure
- **NCHL:** Clearing house (10% NRB, 90% banks)
- **Fonepay:** Largest payment network
- **Commercial banks:** Major QR adopters
- **Wallets:** Multiple PSP providers

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| NEPALPAY QR | NCHL | QR Standard | Active |
| connectIPS | NCHL | Interbank | Active |
| Fonepay | Private | Payment network | Active |
| NPS | NRB/NCHL | National switch | Developing |

### NCHL Role
- 10% investment from Nepal Rastra Bank
- 90% from commercial banks
- National Payment Switch development
- NEPALPAY QR operator

### National Payment Switch (NPS)
- ACI Worldwide partnership (February 2024)
- Unified infrastructure development
- Card payment interoperability
- Retail Payment Switch (RPS) operational

---

## QR code standards

### NEPALPAY QR

| Attribute | Value |
|-----------|-------|
| **Standard** | NepalQR (NRB published) |
| **Operator** | NCHL |
| **Merchants** | 800,000+ |
| **Interoperability** | All BFIs and PSPs |

### NEPALPAY QR Features
- National QR scheme/network
- Independent QR scheme operation
- Merchant-level interoperability
- Network-level interoperability

### NEPALPAY QR Capabilities
- Mobile banking app scanning
- Wallet scanning
- connectIPS integration
- Real-time settlement

### Cross-Border QR Payments

| Partner | System | Status | Volume |
|---------|--------|--------|--------|
| India | UPI | Active (March 2024) | Rs 6-8M daily |
| Alipay+ | Wallets | Active (Nov 2024) | 10+ wallets |
| Korea | Planned | Agreement phase | - |
| Singapore | Planned | Agreement phase | - |
| Thailand | Planned | Agreement phase | - |

---

## Mobile payment apps

| App | Provider | NEPALPAY QR | Features |
|-----|----------|-------------|----------|
| Fonepay | Fonepay | Yes | P2P, P2M, bills |
| connectIPS | NCHL | Yes | Interbank |
| Bank Apps | Various | Yes | Full banking |
| Wallets | Multiple | Yes | Payments |

### Fonepay Network
- Nepal's largest payment network
- QR code payments
- Fund transfers
- Bill payments
- Card integration

### India-Nepal Cross-Border
- Fonepay and NPCI International partnership
- September 2023 agreement
- March 2024 launch for Indians in Nepal
- Rs 6 million daily transactions average
- Rs 8 million on weekends
- Nepal-to-India scanning delayed (commission issues)

### Alipay+ Integration (November 2024)
- Singapore Fintech Festival 2024 announcement
- NCHL and Ant International partnership
- 10+ leading mobile wallets enabled
- 800,000+ merchants in Nepal
- May 2024 collaboration agreement

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [NEPALPAY QR](https://docs.barcoder.ai/docs/payments/NP/nepalpay-qr) | National QR | NCHL | 800K+ merchants | [`nepalpay-qr`](https://docs.barcoder.ai/docs/standards/nepalpay-qr) |
| [connectIPS](https://docs.barcoder.ai/docs/payments/NP/connectips) | Interbank | NCHL | Banks/wallets | — |
| [Fonepay](https://docs.barcoder.ai/docs/payments/NP/fonepay) | Network | Private | Largest | — |

## Sources

- [NCHL - NEPALPAY QR](https://nchl.com.np/nepalpay-qr/)
- [connectIPS - NEPALPAY QR](https://connectips.com/knowmore/nepalpayqr/)
- [Fonepay Official](https://fonepay.com/)
- [Kathmandu Post - India QR Delayed](https://kathmandupost.com/money/2024/12/23/qr-code-payment-system-for-nepalis-in-india-delayed)
- [NCHL - Alipay+ Partnership](https://nchl.com.np/alipay-mobile-payment-partner-users-can-now-scan-and-pay-with-interoperable-nepalpay-qr-while-visiting-nepal/)
- [Kathmandu Post - Scan Pay India 2025](https://kathmandupost.com/money/2024/11/13/nepalis-can-scan-and-pay-in-india-beginning-next-year)
- [New Business Age - Digital Payment Revolution](https://newbusinessage.com/news/40018/navigating-the-digital-payment-revolution/)
- [NCHL - Interoperable QR](https://nchl.com.np/nepalpay-qr-interoperable-qr-based-transaction/)
- [Google Play - NEPALPAY Business](https://play.google.com/store/apps/details?id=com.nchl.creditor.nchl_nps_creditor_app&hl=en_US)
- [Kathmandu Post - Wait More Weeks](https://kathmandupost.com/money/2024/09/14/nepalis-have-to-wait-more-weeks-to-scan-pay-in-india)

## Full country report

[NP-nepal.md](https://docs.barcoder.ai/docs/payments/NP)