With the prohibitory order, digital payments declined

KATHMANDU: JUNE 16 – With the implementation of the prohibitory order in most districts of the country since last April, the transaction amount through digital payment system has come down. With the issuance of the prohibitory order, the transaction amount of digital payment has decreased as compared to the previous prohibitory order.

According to the current economic and financial situation report of the country for ten months made public by Nepal Rastra Bank, according to 2077 BS, the transaction amount in Baisakh alone has decreased by more than Rs. 2.5 billion as compared to last Chaitra.

Although digital transactions continued to increase before the prohibitory order was imposed, the number and volume of transactions have decreased since the prohibitory order was imposed, according to NRB data. With the implementation of the prohibitory order, the transaction amount through Connect IPS, Internet Banking, QR Scan Mobile Wallet and eCommerce has come down.

The transaction amount through digital payment was more than Rs. 166.81 billion last Chaitra, but in Baisakh, the transaction amount decreased to Rs. 164.75 billion. The transaction amount has been increasing since last year’s prohibitory order, but the transaction amount has decreased after the implementation of the prohibitory order.