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By Sandeep Chaudhary

Internet Banking Users Cross 22 Lakh: Is Nepal Ready for a Cashless Future?

Internet Banking Users Cross 22 Lakh: Is Nepal Ready for a Cashless Future?

By Saun End, 2082 (Mid-August 2025), Nepal’s banking sector has recorded a significant milestone with 22.5 lakh internet banking users across the country. Out of this, commercial banks (Class “A”) account for 16.3 lakh users, development banks (Class “B”) contribute 6 lakh, and finance companies (Class “C”) add nearly 19,000. While this figure is much smaller compared to the 2.79 crore mobile banking users, it signals the steady adoption of digital platforms that could pave the way for a cashless economy.

From a financial modernization perspective, internet banking provides customers with a broad range of services beyond basic fund transfers. It enables businesses to conduct online payments, manage payrolls, trade settlements, and tax filings efficiently. For households, it offers convenient bill payments, e-commerce integration, and easy access to banking records—all of which contribute to reducing reliance on cash-based transactions.

The relatively modest penetration compared to mobile banking reflects Nepal’s digital divide. Internet banking requires stable broadband connections, higher digital literacy, and often more sophisticated devices, which are less accessible in rural and semi-urban areas. As a result, internet banking adoption is concentrated in urban centers, corporates, and the salaried class.

However, this slower growth does not undermine its significance. Internet banking serves as the backbone for high-value transactions, complementing the mobile banking boom. With banks increasingly investing in cybersecurity, authentication systems, and user-friendly interfaces, internet banking is evolving into a reliable channel for secure digital finance.

Looking ahead, Nepal’s readiness for a cashless future will depend on bridging infrastructure gaps, ensuring digital security, and enhancing financial literacy. If these barriers are addressed, the combination of 22.5 lakh internet banking users and nearly 3 crore mobile banking users could accelerate Nepal’s transition toward a digital-first, less-cash economy.

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