QPay receives PSP license from NRB

Kathmandu, Sept. 7:

Que Pay Private Limited (QPay) has received the 'Payment Service Provider' license from the Nepal Rastra Bank.

QPay has been granted the permission under the NRB’s Payment and Settlement law for Wallet Services.

It was incorporated in 2016 and got its license on Thursday. After getting the license, the Company is encouraged to take financial services to the next level, the company said.

“We are thrilled to have received PSP licenses and will relentlessly work contributing towards the central bank's initiatives of conversing those small value everyday transactions into Digital Form of Payments; we have and will continue to deploy various peripherals (such as POS/ KIOSK etc.) in providing Digital Payment Services at all levels enabling Consumers to make Digital Payment of Goods and Services” said Prajwal Bohara, Chief Executive Officer of QPay.

QPay a company based in Nepal has introduced first QR based Mobile Wallet Solution and is available at Play Stores as QPay Nepal.

QPay is also the first Payment solution that has achieved interoperability with Union Pay International QR Code Network, which means that QPay consumer can scan UnionPay QR Code deployed at various merchants to make payment of goods and services using QPay Mobile Wallet.

Published in The Rising Nepal daily on 8 September 2019.