Samsika Saund from Kirtipur is delighted with the convenience mobile banking has brought to her life. Despite opening a bank account seven years ago at the behest of her friends, she was initially uncomfortable with bank transactions. Now, Saund enjoys the ease of conducting transactions from her phone, eliminating the need to stand in long bank lines.

For many bank customers like Saund, mobile banking has become increasingly convenient. Sagar Oli, a Kirtipur resident, expressed similar sentiments, noting that he can now check his account balance and pay bills from his mobile phone. Oli, who moved to Kathmandu five years ago for his studies, also uses mobile banking to pay his tuition fees.

Bank employees have also noticed the benefits of mobile banking. Hirendra Saund of Kailali, an employee at Nepal Investment Mega Bank’s Kirtipur branch, shared that his job has become more manageable. He no longer needs to rush to the bank early in the morning, as mobile banking allows him to manage transactions at any time.

The number of mobile banking users in Nepal has surged in recent years. By the first quarter of the current financial year, 22.28 million people were using mobile banking services, an increase of 920,633 users in just three months. By the end of the last fiscal year 2079/080, there were 18.37 million mobile banking users.

According to Nepal Rastra Bank data, by the end of October, transactions worth 222.79 billion rupees were conducted through 2.27 million wallet users. During the same period, 1.62 million internet users made payments totaling 11.88 billion rupees, according to bank co-spokesperson Dilliram Pokhrel.

However, Pokhrel also cautioned that the rise in mobile banking has led to increased fraudulent activities, such as QR code misuse and account password theft. He urged users to remain vigilant and aware of potential threats. Pokhrel emphasized that digital banking has had a particularly positive impact on the younger generation, making transactions easier and more efficient.