Siddhartha Bank launches fully virtual Fonepay credit card

KATHMANDU: Siddhartha Bank, in partnership with Fonepay Payment Service, has launched the Siddhartha Fonepay Credit Card, a fully virtual credit product integrated into the bank’s mobile app.

Siddhartha Bank Deputy Chief Executive Officer Rameshwar Prasad Bashyal unveiled the card during an on‑site launch at the Nepal Premier League (NPL), linking the rollout to one of the country’s largest sporting events. Siddhartha Bank is now among the financial institutions offering Nepal’s first fully virtual credit card.

The Siddhartha Fonepay Credit Card allows customers to make fast, secure and contactless payments at more than 1.8 million Fonepay QR merchants nationwide, removing the need for a physical card. The product offers instant activation, real‑time control and enhanced security for everyday payments.

As a launch promotion, Siddhartha Bank and Fonepay are offering 50% cashback up to Rs 750 for new users for a limited period.

Fonepay Chief Executive Officer Diwas Kumar said, “We are delighted to welcome Siddhartha Bank to the Fonepay Credit Card ecosystem. This product is designed to transform the way Nepalis experience credit - fully virtual, widely accepted, and built for secure everyday spending. Together, we aim to drive financial inclusion and digitally empower customers across the country.”

The card is available to eligible Siddhartha Bank customers through the bank’s mobile banking application. Users can activate the card instantly and begin making QR‑based credit payments across Nepal.

With Siddhartha Bank’s onboarding, the Fonepay Credit Card is now live across eight banks in Nepal: Citizens Bank International, Laxmi Sunrise Bank, Kumari Bank, Mahalaxmi Bikas Bank, Shine Resunga Development Bank, Everest Bank, Garima Bikas Bank and Siddhartha Bank.

Fonepay is a Payment System Operator that facilitates inter‑bank person‑to‑person and person‑to‑merchant transactions through an interoperable network and mobile platforms. It is regulated by Nepal Rastra Bank and was the first mobile payment network licensed by NRB as a Payment System Operator. Fonepay is also the country’s first non‑card‑based PSO to achieve PCI DSS certification.

Siddhartha Bank is recognised as one of Nepal’s efficient and professional banks, with a focus on relationship banking, a strong branch network and digital‑first services aimed at supporting individuals and businesses.