Mobile Banking in Nepal: All You Need To Know

Amid the towering peaks and verdant valleys of Nepal, a revolution is silently sweeping across its cities and remote hamlets.

This revolution doesn’t involve banners or rebellions, instead, it evolves in the hands of millions who are skipping queues at brick-and-mortar banks and making transactions with a few taps on their smartphones.

Welcome to the world of Mobile Banking in Nepal – an evolving financial landscape that is transforming how Nepalese save, transact, and manage their money.

Key Statistics

mobile banking stats in Nepal

The mobile banking landscape in Nepal encompasses various aspects, including the number of mobile banking users, the growth of digital payments, the adoption of mobile banking, and the impact of COVID-19 on mobile banking use.

Here’s a summary of the key mobile banking statistics in Nepal:

Number of Mobile Banking Users

  • The number of mobile banking users in Nepal has been increasing significantly. According to a report by the Nepal Rastra Bank, the number of mobile banking users reached 14,194,839 by the end of Fiscal Year 2020/21, showing a substantial increase from the previous year.
  • The adoption of mobile banking has been particularly notable in recent years, with mobile banking swiftly overtaking other means of digital payments within just a few years of adoption.

Growth of Digital Payments

  • The digital payments market in Nepal is projected to grow by 18.46% from 2023 to 2027, resulting in a market volume of US$4840.00 million in 2027.
  • The adoption of digital payments in Nepal has been driven by a combination of government initiatives, increasing availability of mobile and internet services, and the need to reduce dependence on cash.

Adoption of Mobile Banking

  • Research has examined the adoption of mobile banking among users in Kathmandu Valley, indicating that perceived usefulness, attitude towards mobile banking, and perceived ease of use have significant effects on behavior intention.
  • The adoption of mobile banking has been growing, and it has been considered an essential service by financial institutions in Nepal.

Impact of COVID-19 on Mobile Banking Use

  • The COVID-19 pandemic has reshaped Nepal’s banking culture, leading to the adoption of QR code-based touchless payment options and the floating of mobile loans by banks.
  • The pandemic has played a significant role in the rise of mobile banking adoption, as it provided a convenient method of payment and banking during lockdowns and restrictions.

These statistics reflect a significant shift towards digital financial services in Nepal, driven by technological advancements and changing consumer behaviors.

Leading mobile banking platforms in Nepal

Here are some of the leading mobile banking platforms in Nepal based on our research:

  1. eSewa Pvt. Ltd.
  2. Laxmi Bank Ltd
  3. Khalti Pvt Ltd
  4. IME Digital Solution Limited
  5. CDSC
  7. Global IME Bank Limited
  8. Nabil Bank Limited
  9. MetLife Inc
  10. F1soft
  11. Kumari Bank
  12. TT USDT Limited
  13. Siddhartha Bank
  14. PayPal Mobile
  15. Smart Card Nepal Pvt Ltd
  16. Slideshow Vid Maker
  17. Fonepay Payment Service Limited
  18. PhonePe
  19. Employees Provident Fund, Nepal
  20. Sanima Bank
  21. Binance Inc.
  22. Nepal Clearing House Ltd
  23. Ahad Ahad
  24. Everest Bank Limited.
  25. Quotex Limited
  26. Paytm – One97 Communications Ltd.
  27. Moon Fly
  28. BMW-USDT Limited
  29. FundsReward
  30. Vivid Apps Tech
  31. Softshala Nepal
  32. Musaffa

Here are the top 5 mobile banking apps in Nepal:

  1. NIC Asia MoBank
  2. Nabil nBank
  3. Global IME Smart Plus
  4. eNMB App
  5. Digi Prabhu App

Some popular mobile banking apps such as IME Pay, Khalti, and Fonepay. Additionally, here are some of the banks that offer mobile and internet banking services in Nepal, including Himalayan Bank, Prabhu Bank, Everest Bank, Nepal Investment Bank Limited, Standard Chartered, Nabil Bank, and Siddhartha Bank.

Overall, there are many mobile banking platforms available in Nepal, and the most popular ones may vary depending on individual preferences and needs.

Factors Driving Mobile Banking Adoption in Nepal

Sure, here is a list of factors driving mobile banking adoption in Nepal:

Increasing Mobile Phone Penetration:

Factors Driving Mobile Banking Adoption in Nepal

Mobile phone penetration in Nepal has witnessed a remarkable surge in recent years, with over 77% of adults owning a mobile phone. This widespread access to mobile devices has created a fertile ground for the adoption of mobile banking services.

Expanding Mobile Network Coverage:

The expansion of mobile network coverage across Nepal, including remote and rural areas, has played a significant role in enabling seamless connectivity for mobile banking transactions. Reliable internet access is crucial for users to access their accounts, transfer funds, and conduct other financial activities conveniently.

Financial Inclusion Initiatives:

Government and non-profit organizations have actively promoted mobile banking to reach underserved communities and foster financial inclusion.

Initiatives such as financial literacy programs, digital infrastructure development, and targeted marketing campaigns have contributed significantly to the adoption of mobile banking among previously unbanked or underbanked populations.

Democratization of Financial Services:

Mobile banking has democratized access to financial services, empowering individuals without brick-and-mortar bank access to manage their finances effectively.

This newfound financial autonomy has enabled users to participate more fully in the economic system, boosting their livelihoods and promoting overall economic growth.

Growing Consumer Demand:

Consumers in Nepal are increasingly embracing digital technologies for various aspects of their lives, including managing their finances. The convenience, accessibility, and cost-effectiveness of mobile banking have resonated with consumers, driving demand for these services.

Technological Advancements:

Continuous advancements in mobile technology, such as the development of user-friendly mobile banking applications and enhanced security measures, have further fueled the adoption of mobile banking in Nepal.

These advancements have made mobile banking more convenient, secure, and appealing to a wider range of users.

COVID-19 Pandemic:

The COVID-19 pandemic has accelerated the adoption of digital technologies, including mobile banking, as individuals sought contactless and convenient ways to manage their finances.

The pandemic highlighted the importance of digital financial services and further propelled the growth of mobile banking in Nepal.

Regulatory Support:

The Nepalese government has implemented supportive regulations and policies that encourage the development and adoption of mobile banking services.

These regulations aim to create a conducive environment for innovation and promote responsible financial practices in the mobile banking sector.

Efforts from Banks and Financial Institutions:

Banks and financial institutions in Nepal have actively invested in expanding their mobile banking offerings and educating their customers about the benefits of these services.

They have also introduced various incentives and promotions to attract new users and encourage active engagement with mobile banking platforms.

Increasing Awareness and Education:

Growing awareness about the benefits and security of mobile banking, coupled with financial literacy programs and educational campaigns, has played a crucial role in encouraging individuals to adopt mobile banking services.

As more people understand the advantages of mobile banking, its adoption is likely to continue expanding.

Benefits of Mobile Banking in Nepal

Here are the benefits of mobile banking in Nepal:

Convenience and Accessibility

Mobile banking in Nepal offers users the convenience of accessing their accounts and conducting transactions 24/7 from anywhere with a mobile phone. This eliminates the need to visit a physical bank branch, saving time and effort. Additionally, mobile banking is particularly beneficial for individuals living in remote areas with limited access to traditional banking services.

Reduced Transaction Costs

Mobile banking typically offers lower transaction fees compared to traditional banking methods. This is because mobile banking platforms have lower overhead costs compared to brick-and-mortar bank branches. The reduced transaction costs make mobile banking a more cost-effective option for many individuals and businesses.

Enhanced Security

Mobile banking platforms in Nepal employ robust security measures to protect user data and transactions. These measures may include encryption, multi-factor authentication, and device verification. Banks and financial institutions are constantly investing in enhancing their security measures to safeguard their customers’ financial information.

Financial Literacy and Empowerment

Mobile banking provides users with greater control over their finances and promotes financial literacy. By enabling users to track their spending, monitor their balances, and access financial information, mobile banking helps individuals make informed financial decisions. Additionally, mobile banking platforms often provide educational resources and tools to help users improve their financial literacy.

Economic Growth and Development

Mobile banking has fueled financial inclusion, driving economic growth and poverty reduction in Nepal. By providing access to financial services to previously unbanked or underbanked populations, mobile banking has enabled individuals to participate more fully in the economy. This has led to increased entrepreneurial activity, job creation, and overall economic growth.

Additional Benefits

  • Bill Payments: Mobile banking allows users to pay utility bills, credit card bills, and other expenses conveniently from their mobile phones.
  • Account Transfers: Users can easily transfer funds between their own accounts or to other individuals and businesses.
  • Top-ups: Mobile banking facilitates the purchase of airtime, data packages, and other digital services.
  • Account Statements: Users can access their account statements and transaction history directly through their mobile banking app.
  • Customer Support: Mobile banking platforms often provide customer support via chat, email, or phone to address user queries and concerns.

Challenges and Future Prospects

  • Low Literacy Rates: Nepal’s literacy rate stands at 64%, which can pose a challenge for some users to navigate mobile banking platforms.
  • Cybersecurity Concerns: Ensuring the security of user data and transactions remains a critical concern in the digital realm.
  • Infrastructure Limitations: Access to reliable electricity and internet connectivity can hinder mobile banking usage in remote areas.
  • Financial Literacy Gap: Educating users about the potential and benefits of mobile banking is crucial for wider adoption.

Future of Mobile Banking in Nepal

  • Emerging Technologies: Integration of artificial intelligence, blockchain technology, and biometrics can enhance mobile banking services.
  • Digital Financial Services: Mobile banking is expected to play a pivotal role in expanding access to digital financial services.
  • Financial Inclusion Drive: Mobile banking holds immense potential to bring financial services to the unbanked and underbanked segments of the population.


Mobile banking has revolutionized the financial landscape of Nepal, providing a convenient, accessible, and secure platform for individuals and businesses to manage their finances.

As technology advances and financial literacy initiatives gain momentum, mobile banking is poised to play an even more transformative role in Nepal’s economic growth and development.

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