Over 147mn transactions totaling US$12.7bn processed through Visa network

Kathmandu, 19 June 2017 – Visa, the global leader in payments technology, is this month celebrating two decades of operating in Nepal. Since the first Visa card was launched in 1997, Visa has led Nepal’s transition from magnetic stripe cards to EMV chip technology, powering the country’s adoption of digital payments.

Over this period, Visa has processed over 147 million transactions totaling US$12.7 billion across Nepal, in the process growing its card base to nearly 3 million Visa cards in the market .

Commenting on the milestone, TR Ramachandran, Visa’s Group Country Manager, India & South Asia said, “Nepal is one of our key growth markets. With an increased focus on electronification of payments and the eCommerce industry booming in the foreground, Nepal is taking rapid strides towards new age banking.” He further added, “In 2017 alone, we have managed to grow our transactions by over 42%, our payment volumes by over 35% while managing a 22% growth in issuance of new cards. We will continue to accelerate this progression by deepening our partnerships in Nepal and leveraging our global payments network to introduce new innovative payment solutions in the country.”

In Nepal, Visa is associated with leading financial institutions and merchants across the country, offering consumers the choice of using their Visa products across over 6000 point of sale outlets and numerous online platforms. As part of its growth plans, Visa continues to invest in the development of the acceptance infrastructure that would stimulate the adoption of digital payments in the country.

Visa’s pioneering efforts over the past two decades have played a pivotal role in helping a traditional cash based economy such as Nepal gradually transition towards a digital payments ecosystem. The rapid penetration of eCommerce and mobile technology is further complementing this change.

At the core of this expansion has been Visa’s relentless focus on creating a secure environment that fosters growth of digital payment systems in Nepal. Towards this end, Visa has been instrumental in helping form the Card Industry Council of Nepal (CICN), a council formally recognized by the Nepal Bankers Association. CICN currently comprises of Nepal’s leading banks and is mandated with suggesting appropriate rules and regulations, sharing information across banks and managing fraud levels across the industry.

The World Bank expects the Nepal economy to grow at a healthy 5.6% during 2017 with robust recovery of key sectors. This combined with the proactive approach by the country’s central bank, Nepal Rastra Bank is widely expected to further propel the country’s move towards a less cash economy. Visa expects to play a key role in this transition over the next few years as it has been over the past 20.

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Nuspay Launches First Tap & Pay NFC Smart Payment Card in Nepal

SUNNYVALE, Calif., NOV 16, 2015/ — Nuspay International Incorporated, a global technology company in the payments industry announced today the launch of the first NFC (near field communication) Tap & Pay payment card in Nepal. The ground-breaking electronic multipurpose Nuspay NFC payment card was created in association with Nepal Bank Limited and Sajha Yatayat, a public transportation bus services provider in Nepal.

The NFC Tap & Pay payment card will reduce fraud in travellers’ payments while allowing commuters on Sajha Yatayat buses to conveniently pay for their journey using the Nuspay co-branded Sajha Yatayat Smart Travel Card. “Nuspay will act as both payment network and processor, becoming a unified payment technology platform in Nepal. This will provide a single point of service to access its payment solutions across the entire payment processing value chain between financial institutions, merchants, and customers” said Greg Wooten, Chief Executive Officer of Nuspay.

Commenting on their alliance with Nuspay, Mr. Kanak Mani Dixit, Chairman Sajha Yatayat, said, “This partnership to launch our multi-purpose NFC-based payment system will have a substantial impact on both commuters and bus conductors for increasing convenience and offering complete security against risk of financial leakages simultaneously. The fare amount will be charged on the basis of the travelled distance while tracking the entry and exit of the passengers through the Smart Travel Card solution”.

Mr. Devendra Pratap Shah, CEO Nepal Bank, which has partnered with Nuspay to implement the solution, added, “We are pleased that our partnership with Nuspay will help usher in a paradigm shift in payment solutions with this more secure and advanced payment system in Nepal”.

About Nuspay:

Nuspay™ is a global financial technology provider building the next-generation global payment network. Nuspay works in tandem with financial institutions, payment networks, payment processors and related financial businesses worldwide to facilitate the acceptance and processing of all forms of payments through its patent-pending technologies. Nuspay is an industry pioneer in payment data security, digital currency, and payment acceptance innovations. The company is headquartered in the U.S.,  For more information, visit http://www.Nuspay.com

About Sajha Yatayat:

Sajha Yatayat is a public transportation bus system in Nepal. It was established in 1961 to provide efficient and affordable public transportation services to commuters in the Kathmandu Valley and to inter-district travellers. In July 2015 Kathmandu Metropolitan City allocated $1 million to acquire larger buses for Sajha Yatayat and finance incurred management and operation expenses.

About Nepal Bank Ltd:

Nepal Bank is the oldest commercial bank of Nepal. It was established in 1937, which marked the beginning of an era of formal banking in Nepal. It is now the second largest bank in Nepal, with 118 branches in the 55 districts of the country. As of January 2015, its total assets amounted to $800 million.

Media contact

Mr. Harmeet

Cell No;9860202994

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For Immediate Release

UNFPA and IPPF to partner in providing Sexual and Reproductive Health services to earthquake affected women and girls in Nepal

May 06, 2015: New Delhi/ Kathmandu/ London:

The United Nations Population Fund (UNFPA) and International Planned Parenthood Federation (IPPF) have entered into a partnership to ensure that the need for sexual and reproductive health care of young girls, pregnant women and lactating mothers in Nepal is urgently met in the wake of the devastating April 25 earthquake.

An estimated two million women of reproductive age have been affected by the disaster. Of these, there are about 126,000 currently pregnant women who are in urgent need of clean delivery and reproductive health kits. About 2,100 women may suffer from obstetric complications over the next month alone. UNFPA estimates put about 40,000 women of reproductive age – including those at camps for the displaced — at increased risk of sexual violence.

UNFPA has pledged support to IPPF’s Member Association, the Family Planning Association of Nepal (FPAN), to expand and strengthen mobile medical camps. Safe delivery and reproductive health kits, as well as dignity kits which contain essentials including sanitary pads, have also been provided by UNFPA through IPPF to FPAN for women of reproductive age.

UNFPA and IPPF through its SPRINT initiative and FPAN are organising mobile medical camps in affected areas to provide critical sexual and reproductive health services (SRH) along with general health services. So far, IPPF through its SPRINT initiative along with FPAN volunteers and staff have mobilised three mobile teams and one referral unit. These mobile teams have, as of this writing, served more than 1,400 persons in need by providing counselling, consultation examination by doctor and medicines. This has been done through ten different locations in some of the hardest-hit areas, including Bhaktapur, Kavre, Lalitpur, Sindhupalchowk and Kathmandu districts.

”Pregnant women and new mothers are often ignored in the aftermath of a disaster, but they are among the most vulnerable and at risk populations,” noted Giulia Vallese, UNFPA Representative in Nepal. “UNFPA is grateful to IPPF and FPAN for this partnership, for it is through our implementing partners on the ground that our lifesaving interventions reach those who need them the most.”

“We welcome the partnership with UNFPA which will strengthen our efforts to provide critical sexual and reproductive care and services in a timely and effective manner. Our endeavour is to reach people with specialised needs especially pregnant women who are in dire need of emergency care. Our Member Association, Family Planning Association of Nepal, has rallied around its staff and resources to respond to this emergency,” said Anjali Sen, Regional Director, IPPF, South Asia Region.

“IPPF through its SPRINT initiative is implementing the Minimum Initial Service Package (MISP) for Reproductive Health to ensure that no one is left behind in receiving the care they need,” says Aditi Ghosh, IPPF’s Global Emergency Response Manager, SPRINT and field coordinator, Nepal Emergency Response.

“At the mobile medical camps, while providing general healthcare and services, we have in just the early days of this crisis evacuated and referred sixteen women in various stages of pregnancy needing emergency obstetric care to different referral sites including the Israeli medical camp,” said Dr. Abhijeet, Pathak, Programme Specialist – Medical and Abortion, IPPF SARO, overseeing the coordination of the mobile medical camps.

The 7.8-magnitude earthquake has claimed more than 7,000 lives, and over 14,000 people have been injured, many seriously. The impending monsoon is compounding fears of further devastation among the affected population. The need for crucial lifesaving medical care, including sexual and reproductive health and services, will continue well into the future. Specialised healthcare needs of pregnant women and lactating mothers, provision for safe delivery, protecting girls from unintended pregnancies, and menstrual hygiene for young girls remain serious issues that the UNFPA-IPPF/FPAN partnership will continue to address.

“So many parts of the country are devastated and it’s encouraging to see that the affected communities themselves want to participate in the response – we must engage women, girls and young people in the services we’re providing”, said Priya Marwah, Humanitarian Response Coordinator from UNFPA’s Asia Pacific Regional Office.

More than a third of maternal deaths worldwide occur in crisis settings due to lack of access to basic emergency-obstetric services and availability of skilled service providers. This leads to high maternal and newborn morbidity and mortality which, however, with timely and appropriate interventions such as those provided by UNFPA, IPPF/FPAN and other partners are preventable. UNFPA and IPPF/FPAN pledge to support the Government and people of Nepal now and in the future.

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