LALITPUR, Sept 30: Fonepay Payment Service Ltd and the Employee Provident Fund (EPF) have announced 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 the EPF to collect receivables from loans through Fonepay’s interoperable biller platform.
According to a press statement issued by the mobile payment 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.
Digital payment agreement between Nepal and India expected to e...
“This partnership with the Employee Provident Fund Nepal marks a significant advancement in our mission to enhance financial accessibility and efficiency for users. By integrating our digital payment solutions, we are not just offering convenience to the users but we are also 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,” the statement quotes Diwas Kumar, the CEO of Fonepay, as saying.
