KATHMANDU: Electronic transactions in Nepal surged to Rs 98.43 trillion in fiscal year 2024/25, up 71% from Rs 57.47 trillion the previous year, Nepal Rastra Bank (NRB) data shows.

Digital payments have nearly tripled over the past five years, rising from Rs 34.42 trillion in FY 2020/21, as users shift from cash due to convenience and safety concerns.

The Real Time Gross Settlement (RTGS) system processed Rs 74.9 trillion, while electronic check clearing handled Rs 6.2 trillion and faster payment systems Rs 5.2 trillion. Mobile banking accounted for Rs 5 trillion, debit cards and Connect IPS each Rs 2.9 trillion, QR-based payments Rs 956 billion, and e-commerce Rs 266 billion.

Transaction volumes typically peak at the start and end of the fiscal year, with Rs 126 billion recorded in the first month and Rs 119 billion in the last.