The number of users of fonePay Credit Card has crossed 50,000, just over two years after its launch, highlighting the growing demand for digital credit services in Nepal.
fonePay said the milestone reflects increasing consumer confidence in digital financial services and the rising demand for convenient, technology-driven credit solutions.
According to the company, fonePay Credit Card is Nepal’s first fully virtual credit card, integrated directly into mobile banking applications. Customers can apply for the card, receive it and activate it through their respective banking apps, making the entire process digital and paperless.
Available Through Nine Partner Banks
fonePay Credit Card services are currently available through the mobile banking applications of nine partner banks and financial institutions.
These include Citizens Bank International, Kumari Bank, Laxmi Sunrise Bank, Siddhartha Bank, Everest Bank, Garima Bikas Bank, Mahalaxmi Bikas Bank, Shine Resunga Development Bank and Manjushree Finance.
Users can scan and make payments through the card at more than 20 lakh fonePay QR merchants across Nepal.
fonePay said the rapid growth in users demonstrates increasing trust in digital credit services. By integrating credit facilities into everyday banking platforms, the company aims to make formal credit more accessible, convenient and inclusive.
50,000 Users in Two Years
fonePay Chief Executive Officer Diwas Kumar said the growth of fonePay Credit Card has been significant compared with the traditional credit card market in Nepal.
He noted that traditional credit cards have a history of around 36 years in Nepal, with their total number having only recently crossed 3 lakh. In contrast, fonePay Credit Card has surpassed 50,000 users within just two years of its launch.
According to Kumar, the milestone is not only about the number of users but also about expanding access to credit beyond traditionally privileged groups.
He said the growth indicates that Nepal is rapidly moving toward digital credit, with fonePay aiming to make obtaining and using credit as simple as scanning and making a payment.
Focus on Digital Credit Expansion
fonePay said the growth of its credit card service also reflects the increasing adoption of embedded finance in Nepal, where financial services are integrated directly into digital platforms that consumers already use.
As demand for instant, paperless and digital banking services continues to grow, the company said it is working to make credit services more accessible and technology-driven.
fonePay plans to further strengthen its partnerships with banks, introduce product innovations and improve customer experience. The company said its long-term objective is to expand access to digital credit to millions of Nepalis and contribute to the development of Nepal’s digital financial ecosystem.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
