Daraz Nepal has been awarded with the “Excellence in Merchant Acceptance” recognition by Visa in the online category. The eCommerce giant was conferred with the accolade at the Visa Leadership Conclave Nepal 2023 event in Kathmandu. The event was hosted on December 19, 2023, at the Marriott Hotel Kathmandu. Daraz received the award for its contribution to the promotion of digital payments in its online shopping platforms.
Jonaam Bhurtel, Payments Manager received the award on behalf of Daraz in the presence of several high-ranking figures. The attendees included Mr. Bam Bahadur Mishra (Hon’ Deputy Governor, NRB), and Mr. Guru Prasad Paudel (Executive Director, NRB). Also at the event were Mr. Soumya Basu (South Asia Country Manager, VISA), Mr. Sunil KC (Chairman, Nepal Bankers Association), and Mr. Mark Templer (Political & Economic Advisor, US Embassy)
Through this event, Visa acknowledged the contributions of stakeholders to digital payment services. Daraz is no stranger to this. Through its online shopping platforms, the eCommerce company actively promotes and encourages the use of cards and digital wallets for payments for shopping. The majority of Daraz customers perform online payments via payment cards and mobile wallets such as IME Pay and Khalti.
Daraz Nepal has been a leader in promoting and transaction digital payment through the use of cards and wallets in their platform.
There are many online shopping sites in Nepal however, Daraz remains the most prominent with the largest assortment of products and the highest daily active customers.
Online payment is a common theme among Daraz customers
It’s no surprise that Visa acknowledged Daraz Nepal for its contribution to digital payments. Being an online marketplace, Daraz actively encourages customers to pay via online payment methods for products. To their convenience, customers have different payment options too. Daraz lets buyers perform online payments via Visa, master card, eSewa, IME Pay, and other services. This lets buyers pay for their orders anywhere on the go.
Nepal is a burgeoning market for fintech and digital payment is steadily rising. Particularly since the Covid-19 lockdowns, smartphone users have largely resorted to mobile payments via digital wallets. QR payments have further contributed to mobile payments. Daraz customers can make contactless payments using banks’ credit/debit cards, Visa cards, electronic wallets, etc. Whether during major shopping campaigns such as Daraz 11.11 sale or Dashain Dhamaka, or regular payments, digital payment is the norm in Daraz. It’s safe to assume that the facility of digital payment has made Daraz shopping incredibly convenient and approachable.
Daraz awarded by Visa for contributions to digital payment
Visa acknowledged Daraz Nepal for its contribution to the digital payment landscape in Nepal. Daraz Nepal recorded the largest volume of online transactions through the Visa network from June 2022 to July 2023 in Nepal. On this basis, the multinational payment card service provider Visa presented the Excellence in Merchant Acceptance” award to Daraz Nepal.
Daraz Nepal received the award from Visa for “being the leader and having the largest volume of online transactions through Visa network from June, 2022 to July, 2023 in Nepal.
The event had graceful attendance by the leaders of the banking and financial technology industry of Nepal.
Daraz Group, the parent company of Daraz operations is South Asia’s leading eCommerce venture. The group receives 50% of payments through digital platforms. Daraz has over 35 million products with 40 million active users across the markets in Nepal, Bangladesh, Pakistan, Sri Lanka, and Myanmar.
Is online payment your default way for Daraz shopping or do you prefer physical bills? Do share with us in the comments below.
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