It’s been two years since Khalti got launched in the Nepali market and its app on Google Play Store has amassed 500,000 downloads. An indication that Nepali people are quickly adopting digital payment methods.
Manish Modi, the Managing Director of Khalti, on the achievement, said, “Every day, tens of thousands of users load money to their Khalti wallet and consume it to make various digital payments. Similar to Android app users, feedback from Khalti’s iOS app and web users is also equally exciting. We are working to create digital payment habits among all Nepalis. We are extremely overwhelmed and excited to get love and support from users like this. Now we have a lot more responsibility added on us. We feel this is dopamine given us to bring lots of services to our platform and take Khalti to the next level.”
Nepal has above 137-percent mobile telephony penetration and 65-percent broadband internet penetration, shows the MIS report of Nepal Telecommunication Authority. Similarly, the latest statistics of Nepal Rastra Bank indicates that over 83 lakh Nepalese use mobile banking, while the number of Nepalese using internet banking is over 9 lakh.
However, the Global Findex Database of WorldBank for the year 2017 shows that only 45% of the population of Nepal is banked. Thus, the role of digital payment system seems to define to bring the unbanked population to the digital platform as well as provide financial services.
About the Khalti services, it’s been providing utility bill services, mobile recharge, DTH recharge, domestic flight booking, movie ticketing, event ticketing, hotel booking, newspaper subscription, online shopping payments, and insurance premium payments along with other digital payment services in Nepal.
As per Khalti, more than 8 lakh people use its platform for various bill payment services regularly.