December 12: Nabil Bank has announced the launch of “QR Code Payment Service” in association with UnionPay International (UPI) and Rojgari Services Private Limited. Nabil Bank said in a statement that it has formed a Quick Response (QR) merchant development alliance with UPI, a leading international payment association, and Rojgari Services, a recruitment solution company.

According to the bank, the alliance brings together a pool of expertise in QR payment solution, acquiring/payment services and network development.

“Rojgari Services shall develop QR merchant network across the country for Nabil Bank that will enable customers to process payment through their mobile device using QR Code from those merchant touch points,” the statement said.

With the UPI QR Code service, Nepali businesses can now sell their products/services electronically in a secure environment, the statement further said. The bank said that Rojgari Services will build the bank’s QR acquiring portfolio with 10,000 merchants over the period of one year. Over the time, Nabil Bank said it expects to deliver enhanced suite of QR payment solution to its customers and merchants.

“It's a completely new approach to the typical payment process where the need of physical Point of Sales (POS) terminals can be avoided and no physical contact of the card is required. The QR code conveys the purchase transaction information to the application on the mobile device where the payment is initiated.”

Commenting on the agreement, Anil K Khanal, deputy chief executive officer of Nabil Bank, said, “We continue to work towards promoting digital banking and innovative solution as we have been delivering such innovative payment solutions to our customers since long. This partnership will help towards building an ecosystem for QR payment in the country and expand our service offering to the next level.”