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Exponential growth in mobile banking as user base exceeds 17 million mark

KATHMANDU: Mobile banking users in Nepal has reached 17,600,000 in Nepal, as per Nepal Rastra Bank (NRB).

The central bank stated that number of mobile banking users in the country has reached 17,676,259 as of May 14, 2022. The number has increased by 1.66 percent in comparison to the previous year.

Lately, the central bank and other financial institutions have been emphasizing on cashless transactions. For this purpose, mobile banking has been deemed as an appropriate medium. The features of mobile banking include, deposition of money into a different bank account, payment of water, electricity, internet bills, mobile recharge, booking of airline ticket, payment of insurance amount and many more.

Mobile banking also offers the facility of payment via QR code.



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