Top 6 Payment Gateways in Nepal

With the rise of e-commerce in Nepal, the need for reliable and secure payment gateways has become crucial. Payment gateways are the online systems that enable merchants to accept electronic payments from customers. As more businesses in Nepal are moving towards e-commerce, it is important for them to have a secure and trustworthy payment gateway to ensure smooth transactions.

In this blog, we will take a look at the top 6 payment gateways in Nepal based on various criteria such as features, fee structure, integration options, customer support, and security measures. This list will help merchants to choose the best payment gateway for their business needs.

Before we dive into the list, let’s take a brief look at the Nepalese e-commerce industry. E-commerce in Nepal has been growing rapidly, and it is expected to reach $3 billion by 2023. With the increasing penetration of smartphones and the internet, the e-commerce industry is likely to see further growth in the coming years. However, the lack of reliable payment gateways has been a major challenge for the industry. With the introduction of new payment gateways and improvements in existing ones, the industry is poised for significant growth.

Criteria for selection

To select the top 6 payment gateways in Nepal, we considered several factors that are important for merchants and customers alike. Here are the criteria that we used to make our selection:

1. Features and Benefits: The payment gateway should have a variety of features such as multiple payment options, real-time transaction processing, fraud detection and prevention, and recurring billing.
2. Fee Structure and Pricing: The fee structure of the payment gateway should be transparent and affordable for small and large businesses alike. We looked at the setup fee, transaction fee, and other charges associated with the payment gateway.
3. Integration Options and Ease of Use: The payment gateway should be easy to integrate with the merchant’s website or mobile application. It should also have a user-friendly interface that makes it easy for merchants to manage their transactions.
4. Customer Support: The payment gateway should have a dedicated customer support team that is available 24/7 to address any issues that may arise. They should be responsive and knowledgeable.
5. Security Measures: The payment gateway should have robust security measures such as SSL encryption, tokenization, and PCI compliance to ensure that customer data is protected at all times.

Based on these criteria, we selected the top 5 payment gateways in Nepal that meet the needs of merchants and customers alike. In the following sections, we will provide an overview of each payment gateway, its features and benefits, fee structure and pricing, integration options, customer support, and security measures.

Top 6 Payment Gateways in Nepal

1. eSewa: eSewa is one of the most popular payment gateways in Nepal, with over 3.5 million users. It offers a wide range of features such as mobile top-up, utility bill payments, and online shopping payments. eSewa also has a loyalty program that rewards users for their transactions. Its fee structure is transparent, with no setup fee and a transaction fee of 1.5% for merchants. It is easy to integrate with e-commerce platforms and has a user-friendly interface. Customer support is available through phone, email, and chat. eSewa has multiple security measures such as SSL encryption and two-factor authentication.
2. Khalti: Khalti is a leading payment gateway in Nepal that offers various payment options such as mobile banking, internet banking, debit/credit cards, and wallet payments. It also offers services such as mobile top-up, utility bill payments, and online shopping payments. Its fee structure is affordable, with no setup fee and a transaction fee of 1.5% for merchants. Khalti is easy to integrate with e-commerce platforms and has a user-friendly interface. Customer support is available through phone, email, and chat. Khalti has multiple security measures such as SSL encryption and two-factor authentication.
3. IME Pay: IME Pay is a payment gateway offered by IME Group, one of the largest financial institutions in Nepal. It offers various payment options such as mobile banking, internet banking, and wallet payments. Its fee structure is affordable, with no setup fee and a transaction fee of 1.5% for merchants. IME Pay is easy to integrate with e-commerce platforms and has a user-friendly interface. Customer support is available through phone, email, and chat. IME Pay has multiple security measures such as SSL encryption and two-factor authentication.
4. Connect IPS: Connect IPS is a payment gateway offered by Nepal Clearing House Ltd (NCHL), a company owned by Nepal Rastra Bank. It offers various payment options such as mobile banking, internet banking, and wallet payments. Its fee structure is transparent, with a setup fee of NPR 5,000 and a transaction fee of 1% for merchants. Connect IPS is easy to integrate with e-commerce platforms and has a user-friendly interface. Customer support is available through phone, email, and chat. Connect IPS has multiple security measures such as SSL encryption and two-factor authentication.
5. FonePay: FonePay is a payment gateway offered by F1Soft International, a leading software company in Nepal. It offers various payment options such as mobile banking, internet banking, and wallet payments. Its fee structure is affordable, with no setup fee and a transaction fee of 1.5% for merchants. FonePay is easy to integrate with e-commerce platforms and has a user-friendly interface. Customer support is available through phone, email, and chat. FonePay has multiple security measures such as SSL encryption and two-factor authentication.
6. Prabhu Pay: Prabhu Pay is a payment gateway offered by Prabhu Group, a leading financial institution in Nepal. It offers various payment options such as mobile banking, internet banking, and wallet payments. Its fee structure is affordable, with no setup fee and a transaction fee of 1.5% for merchants. Prabhu Pay is easy to integrate with e-commerce platforms and has a user-friendly interface. Customer support is available through phone, email, and chat. Prabhu Pay has multiple security measures such as SSL encryption and two-factor authentication.

Comparison of the top 6 payment gateways

Overall, eSewa and Khalti are the most popular payment gateways in Nepal, with a wide range of features and affordable fee structures. IME Pay, Connect IPS, FonePay, and Prabhu Pay are also great options with similar features and fee structures. Nabil Bank e-Banking offers a variety of payment options, but its fee structure depends on the package chosen. All payment gateways offer easy integration with e-commerce platforms and have multiple security measures to protect customer data.

Conclusion

In conclusion, payment gateways have become an essential part of the online business ecosystem in Nepal. With the rise of e-commerce and the increasing trend towards cashless transactions, choosing the right payment gateway is critical for merchants to ensure secure and hassle-free online transactions for their customers.

After analyzing the criteria for selection and reviewing the features, fee structures, integration options, customer support, and security measures of the top 6 payment gateways in Nepal, we have concluded that eSewa and Khalti are the most popular and reliable options. However, other payment gateways like IME Pay, Connect IPS, FonePay & Prabhu Pay also offer similar features and security measures that can be considered based on specific business needs.

In the end, it is essential to choose a payment gateway that fits your business requirements, provides secure transactions, has reliable customer support, and is user-friendly for your customers. We hope that this blog has provided useful insights for businesses looking to choose the right payment gateway in Nepal.

References

Here are some references that were used to gather information for this blog:

1. eSewa: https://esewa.com.np/
2. Khalti: https://khalti.com/
3. IME Pay: https://www.imepay.com.np/
4. Connect IPS: https://connectips.com/
5. FonePay: https://www.fonepay.com/
6. Prabhu Pay: https://prabhubank.com/prabhu-pay/