Diwas Kumar Sapkota Reappointed as CEO of Fonepay for Second Four-Year Term

Kathmandu. Diwas Kumar Sapkota has been reappointed as the Chief Executive Officer (CEO) of Digital Payment Network Fonepay for a second four-year term, following a decision by the company’s board of directors.

Sapkota has led Fonepay since 2021 and brings more than two decades of experience in banking technology, electronic payment infrastructure, and the fintech industry. He is also a member of the company’s founding team and previously served as Chief Technology Officer (CTO), where he played a key role in developing and expanding the company’s technology systems.

Originally established as a Payment System Operator (PSO), Fonepay has grown into a major digital payment infrastructure provider in Nepal. The company introduced the country's first ‘Open Loop QR’ payment system by connecting banks and financial institutions on a single network. 

Fonepay currently serves millions of users and businesses through services including Fonepay QR, Fonepay Direct, Fonepay Bill, Fonepay Tag, and Virtual Credit Card.

According to the company, more than 2.5 million transactions are processed daily through the Fonepay network, with daily transaction volumes exceeding Rs 15 billion. The company has also expanded cross-border digital payment services through integration with payment networks in India and China.

Under the virtual credit card service launched in partnership with several banks, more than 30,000 cards have been issued within one and a half years. Fonepay says over 2 million QR merchants across all 77 districts of Nepal are now connected to its network. 

Speaking after his reappointment, CEO Sapkota said Fonepay aims to evolve beyond a payment network into a full financial platform. He identified three key priorities for his new term: strengthening regional and international payment interoperability, expanding the digital ecosystem, and increasing financial inclusion in underserved areas. He also stated the company would move forward with plans to issue an initial public offering (IPO) to the general public.

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