FinTech International Launches Digital Fare System for Nepal's Public Transport

Photo · techpana.com

FinTech International Pvt. Ltd. has introduced a smart card and offline QR-based digital fare payment system for Nepal's public transport sector to modernize operations and reduce fare disputes. The system uses validator machines with GPS and geo-fencing, allowing passengers to tap in and tap out, with fares deducted based on distance traveled. According to CEO Amit Shrestha, the initiative aims to bring technological advancement to a sector still reliant on traditional cash payments.

• The new system aims to resolve recurring disputes between passengers and co-drivers over fares, change, and overcharging.
• Passengers tap a smart card on a validator machine upon boarding and again before disembarking, with the system deducting the exact fare and refunding any excess balance.
• The system requires a minimum balance on the smart card equivalent to the maximum fare for the route to initiate a tap-in.
• FinTech International began testing digital fare collection via POS machines before the COVID-19 pandemic, building on that technology for the current launch.
• The inspiration for the system came from public transportation payment technologies used in countries like Singapore.