QR code payment is a contactless payment method where payment is performed by scanning a QR code from a mobile app. This is an alternative to doing electronic funds transfer at the point of sale using a payment terminal. This avoids a lot of the infrastructure traditionally associated with payments such as payment cards, POS machines, and cash.
QR code payment Advantage in your Business
NIC ASIA Bank offers merchant to accept QR code payment from more Fonepay mobile banking customers in Nepal.
The customer now can simply scan the QR code of the Fonepay network by mobile and pay the bill amount instantly. The payments made through QR code will be directly transferred to the merchant’s Bank account in real time.
The QR code-based payments which are in the Fonepay network are accepted by most of the merchants across Nepal.
Get your NIC Asia Merchant QR Code
The business entity must open an account with the bank.
Submit the PAN and business registration document.
Fill up the Know Your Merchant Form.
Sign an agreement with the bank to accept QR Payments.
Self-Registration in Fonepay Merchant App by Business Entity Benefits of QR Code
QR Code will allow all the merchants to receive digital payments without the use of a Point-of-Sale (POS) swiping machine and is quite cheap with low service charge.
It saves time as the payment gets directly transferred to the bank account.
All the payment details and statements can be viewed online via web or mobile app.
How to Use
On successful registration in Fonepay Merchant will receive SMS with Username and Password in their mobile number. Download Fonepay Merchant App from Google Play Store or App Store. Login with provided Username and Password.
On every payment, both Merchant and Customer will receive an SMS notification from Fonepay.
Merchant can view all transaction details in their Fonepay Merchant App and bank statement.
Merchant can start accepting payment once they are registered using their Static as well as Dynamic QR Code from their Fonepay Merchant App.