Issuing a press statement, the company informed that the Mahalaxmi Bikas Bank is the first development bank to provide fonepay credit card service to its customers. This innovative offering, part of the Fonepay Credit Card Scheme, is entirely virtual and seamlessly accessible through Mahalaxmi Bank’s mobile banking app: Mahalaxmi Smart Sathi.
According to the statement, the card allows users to scan and pay at any Fonepay QR merchant across Nepal. It combines the familiar benefits of a traditional credit card, such as 45-day interest-free credit, flexible repayment options with the ease and security of QR-based payments; no physical card required.
"To celebrate the launch, customers using the Mahalaxmi Fonepay Credit Card can enjoy an exclusive cashback offer of 50% OFF up to Rs. 500 on their transactions. This limited-time promotion is designed to encourage users to experience the convenience of QR-based credit payments while enjoying valuable savings on their everyday purchases," reads the statement.
Speaking on the partnership, Diwas Kumar, CEO of Fonepay, said: “We are proud to have Mahalaxmi Bikas Bank join us as the first development bank to offer the Fonepay Credit Card. Their leadership in embracing digital innovation reflects a strong commitment to serving customers better. This partnership marks another important step toward making financial services simpler, smarter, and more inclusive for every Nepali.”
With this launch, Fonepay and Mahalaxmi Bikas Bank have taken a meaningful step toward redefining how credit is accessed and used in Nepal. As more institutions prepare to join the Fonepay Credit Card network, this collaboration signals a broader shift toward smarter, more inclusive digital banking experiences, bringing the future of finance closer to every Nepali.
