KATHMANDU: Everest Bank Ltd (EBL), a joint venture partner with Punjab National Bank India, has collaborated with Fonepay, Nepal's largest payment network, and launched the first-of-its-kind offline digital payment solution, also known as 'Fone- TAG' in Nepali market. FoneTAG is an offline payment solution that enables customers to make merchant payments by presenting NFC tag or a CPQR code (customer presented QR code) from mobile banking app even in areas with limited or no internet connectivity, as per a press statement.

The limit for offline transactions is Rs 5,000 per transaction. The service is accessible to all Everest Bank customers through their mobile banking app. - HNS

A version of this article appears in the print on August 14, 2023, of The Himalayan Times.