Fonepay partners with Employee Provident Fund Nepal to facilitate digital loan payments

काठमाडौं ।

Fonepay Payment Service Ltd. and the Employee Provident Fund (EPF), a government entity also known as Karmachari Sanchaya Kosh, have announced a landmark partnership to facilitate API-based Host-to-Host (H2H) payments. This integration connects the ERP system operated by the EPF to Fonepay’s payment rails for B2B, B2G, and B2C corporate payments. Additionally, this arrangement will enable EPF to collect receivables from loanees through Fonepay’s interoperable biller platform.

This strategic collaboration allows EPF members to easily pay their provident fund loans through various digital platforms, including mobile banking apps, internet banking, and Omni Channel websites. The H2H payment integration represents a cutting-edge digital payment infrastructure that facilitates corporate payments, enhancing efficiency and streamlining financial processes.

“This partnership with Employee Provident Fund Nepal marks a significant advancement in our mission to enhance financial accessibility and efficiency for users.” said Diwas Kumar, CEO of Fonepay. “By integrating our digital payment solutions, we’re not just offering convenience to the users – we’re actively contributing to the Digital Nepal vision. This collaboration underscores our commitment to making financial services more accessible and user-friendly for all Nepalis. We also aim to introduce many innovative payment solutions through this partnership”

Darshan Bhattarai, Acting Chief Manager of Employee Provident Fund, remarked: “The collaboration with Fonepay is a strategic move to modernize our financial services. Enabling digital payments for EPF loans will streamline the process for our members, making it faster and more accessible. This partnership reflects our commitment to adopting innovative solutions that benefit our contributors.”