High growth in banking transactions with cash, how much used through mobile banking and QR?

Kathmandu : Lately, there is a growing interest in electronic payments. Every transaction in Nepali is increasing in electronic medium. In the month of January, most of the transactions with cash were done through RTGS. In this month, the turnover of 28 billion 228.6 million 100 thousand rupees was done through RTGS. Last January, this transaction was 22 trillion 958 billion 04 million rupees. In the same way, the turnover from ECC was 4 trillion 779 billion 291 million rupees in the month of January and 4 trillion 52 billion 718 million rupees from Connect IPS. Mobile banking, which is considered a suitable medium for cashless transactions, is expanding widely. According to Central Bank of Nepal, more than 2 trillion 89 billion 387 million rupees was transacted through mobile banking in the month of January alone. Which is 68.13 percent more than last January. In January of the last fiscal year, it was 1 trillion 72 billion 119 million rupees. On the other hand, mobile banking transactions have increased by 2.53 percent compared to the month of January. The mobile banking transaction in Push was 2 trillion 822. 4 million 100 thousand rupees.

Similarly, recently there has been significant progress in bringing small purchases to the scope of digital payment through QR codes. Similarly, the data of Central Bank shows that 37 billion 734 million rupees were paid through QR code in the month of January. Which is 112.40 percent more than last January. In January last year, transactions worth 17.76 billion rupees were made through QR codes.

Transactions through QR codes have decreased by 2.23 percent compared to last month. In the month of January, the transaction through QR code was 38.59 billion 6 million rupees.

86 billion 48 lakh 5 thousand rupees have been transacted from ATMs in the month of January. Which is 12.25 percent more than last January. Last year, the transaction through ATMs in January was 77 billion 40 million rupees.