The Corona virus has a positive effect on electronic payments in Nepal.

Mobile banking business has been on the rise lately as digital payments are more secure than physical cash payments. According to the NRB, mobile banking has increased by 10.58 percent in a single month.

Until mid-July last year, the government had announced a lockdown from April to July for the prevention and control of Corona virus. During that period, banks and finance companies and payment providers did free electronic transactions. But after the end of the lockdown, electricity transactions were re-charged.

However, due to the increased risk of corona infection in physical cash transactions, people have done more than Rs 20.34 billion in mobile banking transactions in August despite paying fees. This is Rs 1.5 billion more than in July and Rs 1.94 billion more than in July.

Last July, 18.83 billion mobile banking transactions were made. After the digital banking fee, which was made free from April, started to be re-charged from July, the turnover in that month had decreased by Rs.

Similarly, the total turnover decreased by 20 percent in July and 43 percent in August as compared to the month of July when the electronic payment business was re-charged after the lockdown. A total of Rs 2.765 trillion was paid in July.

According to NRB data, ATM, mobile, internet banking, RTGS, ECC, IPS, Connect IPS, e-commerce, POS, QR code, debit card, credit card, prepaid card, branchless banking and wallet accounted for Rs 37.44 trillion in the first two months of the current fiscal year. Electronic payment has been transacted.

Of this, Rs 2189.27 billion was transacted in July and Rs 1.555 billion in August.

From July, NRB had started collecting details of transactions based on QR, POS and e-commerce. The turnover based on QR was Rs 58.90 billion in August, Rs 1.85 billion through POS and Rs 1.20 billion through e-commerce.

The turnover based on QR was Rs. 648 million in August.

Turnover through POS and eCommerce has declined in August. In August, Rs 1.22 billion was transacted through POS and Rs 56.11 million through e-commerce, according to Rastriya Bank.