KATHMANDU, MARCH 27: Fonepay Payment Service Ltd, Nepal’s largest payment network and GLN International (Kyungho Kim, CEO), a global payment network provider company, have lately signed a Memorandum of Understanding (MoU) with the aim to provide cross-border QR payment between Nepal and Korea.
As per the deal, the two companies are to explore necessary regulatory, operational technical and commercial viability to integrate the payment processing switch to facilitate cross-border QR code-based payments between its participating members in Nepal and Korea.
“This collaboration between GLN and Fonepay will start with the launch of Korea’s outbound QR payment service. GLN users traveling to Nepal will be able to utilize cashless, cardless, and hassle-free real-time QR payment services at over 1.3 million offline stores across Nepal through banking apps such as Hana 1Q, KB Wallet, iMbank, Toss, Hana Money and GLN App,” states a press release issued by Fonepay Payment Service.
“In line with our commitment to delivering cross-border payment services worldwide, GLN is excited to embark on this collaborative journey with Fonepay,” the release quoted CEO of GLN, Kyungho Kim as saying. “This strategic partnership not only underscores our dedication to expanding into new territories but also reinforces our mission to provide innovative payment solutions that transcend borders.”
CEO of Fonepay Mr. Diwas Kumar reportedly said, “We are thrilled to be collaborating with GLN to expand our services among the Koreans and is aligned with our international expansion drive in the recent times. This collaboration will help use technology to unlock new opportunities, enhance financial inclusion and contribute in creating a thriving digital economy in Nepal.”
