SCT, MyPay reach agreement to enable payments via SmartQR for MyPay wallet users

KATHMANDU: An agreement has been reached between Smart Choice Technologies (SCT), a payment system operator licensed by Nepal Rastra Bank (NRB), and Smart Card Nepal (MyPay Wallet), a payment service provider, for the operation of payment services through 'SmartQR'.

Following this agreement, MyPay Wallet users will be able to load their wallets through SmartQR and make payments to merchants. Additionally, businesses will be able to use the SmartQR facility to receive payments via QR codes. SmartQR is Nepal's first interoperable QR code issued under the Nepal QR standard, following the EMV standard, the popular international standard for QR codes.

At an event recently held at the SCT office, CEO Manoj Ghimire of SCT and CEO Manoj Mehta of MyPay signed the service operation agreement.

It is said that the launch of this service will facilitate easier transactions for merchants and MyPay Wallet users, as the transaction amount through SmartQR will be immediately transferred to the merchant's account.