Daraz and NEPS Partner to Encourage Prepayment Trend

Nepal’s leading online marketplace Daraz has signed an agreement with Nepal Electronic Payment System (NEPS), a prominent payment service operator. The eCommerce giant expects the agreement to boost the prepayment trend among the consumers who buy on its platform.

The agreement aims at transitioning the customers’ preference from cash on delivery toward prepayment cards. Likewise, the agreement encourages online buyers the use credit and debit cards to pay for products when they shop on Daraz.

Arun Phuyal, the Chief of Digital Payment and Partnership, Daraz Nepal, and Pabindra Rajbhandari, the Chief Business Officer (CBO) of NEPS signed the agreement papers.  

Also see: Daraz Launches Proudly Nepali to Promote Local Brands

Daraz and NEPS partnership to encourage digital payment

“We are excited and optimistic to take Nepali eCommerce to new heights about our partnership with NEPS to encourage customers to choose more digital payment methods using a digital shopping platform to help the Nepali e-commerce ecosystem reach new heights,” Phuyal said.

The prominent eCommerce Daraz has collaborated with a number of banks for prepayment and digital wallets to encourage customers to choose online payment. Likewise, customers receive various discounts while making electronic payments.

Additionally, Daraz offers various discounts in shopping campaigns.

Customers receive discounts while checking out or using Bank of the Days Debit/Credit card payments through vouchers. The collected vouchers redeem themselves while checking out.  

Check out: Daraz Summit 2022 Held, Focus on Digital Economy

The Alibaba-owned Daraz Nepal is one of the leading forces in spurning digital payment in Nepal. The company has a network of 15 thousand sellers on its popular platform and serves 15 lakh customers per month in 101 cities.

Likewise, Daraz and NEPS collaboration will further boost the practice of electronic payment among consumers in Nepal.

Do you prefer cash-on-delivery or prepayment online? You can share your reasoning for not resorting to prepayment in the comments below.