Fonepay's Commitment

ESG Initiatives

At Fonepay, we are committed to driving positive change through our Environmental, Social, and Governance (ESG) initiatives.

Our focus lies in promoting sustainable business practices, supporting community well-being, and upholding strong governance standards.

ESG Vision & Commitment

From eco-friendly operations and financial inclusion efforts to ethical business conduct, we strive to make a meaningful impact while fostering long-term growth and responsibility.

Environmental

Environmental

Reducing carbon emissions through digital transactions.

Social

Social

Build Strong Relationship with all stakeholders including Network Members, Regulators, Employees, Society.

Governance

Governance

Follow ethical practices , robust structures and system , zero tolerance on noncompliance and sound oversight mechanism.

Environmental:

Aligning with SDG 12 & 13

Emission Management:

Reducing carbon footprint through promotion digital transactions

Eco-Friendly Office Setup:

Creating a sustainable workspace with energy-efficient practices.

EV Promotion:

Encouraging the use of electric vehicles (EVs) as part of staff vehicle facilities.

Proper Waste Management:

Ensuring responsible disposal and recycling within the organization.

Environmental Featured

Social Well-being:

Aligning with SDG 3, 5 & 8

Human Capital Development:

Investing in employee growth through training, development, and leadership programs.

Inclusive Growth & Equitable Development:

Ensuring fair opportunities and benefits for all employees, regardless of background.

Talent Acquisition & Retention:

Strategies to attract and retain skilled employees.

Occupational Health & Safety:

Prioritizing workplace safety and minimizing risks for employees.

Social Featured

Governance: Ethical & Responsible Business Practices

Aligning with SDG 9, 12 & 16 Alignment

Transparent and Accountable Governance:

Ensuring ethical decision-making, regulatory compliance, and corporate accountability.

Providing Value to Consumers Responsibly:

Prioritizes data security, responsible sourcing, and corporate governance to build consumer trust and sustainability.

Fostering Innovation & Resilient Infrastructure:

Investing in technology, sustainable solutions, and resilient business models that drive long-term growth and sustainability.

Employee Well-being:

Ensuring a healthy, supportive, and positive work environment for employees.

Governance Featured

Environmental Impact

Reduced Carbon Footprint:

  • Transitioning from physical to digital financial transactions.
  • 1 million+ daily transactions reducing physical transaction emissions.

Energy-Efficient Infrastructure:

  • Optimized data centers with energy-saving technologies.
  • Energy efficient office design, Open office set up, Sunlight friendly design to lower power consumption, Green office set up.

Impact Metrics:

  • QR transaction CAGR is 100% in last 5 years.
  • Minimizing plastic usage having virtual card scheme.
  • Saving paper and Carbon Footprint by eliminating the need for Cheques, printed receipts, and Clients Mobility.

Future Goals:

  • Partnering with renewable energy sources for operational needs.
  • Promoting e-statements and digital adoption among users.

Social Impact

Community Engagement:

  • Business Academy Workshops: Conducted across all 7 provinces, covering payment services, customer service excellence, and more.
  • Digital Literacy Programs: Running in 6 provinces to equip individuals with essential digital payment skills.
  • Nationwide Campaigns: Initiatives like Digi Smart Nepal educate students through interactive workshops, preparing them for a digital financial economy.
  • Women’s Financial Empowerment: Programs like Sakshyam Nari Campaign promote digital financial literacy and adoption, ensuring equitable access to the digital economy.

Employee Well-Being Benefits (Under SSF):

  • Insurance Coverage: Medical, occupational accident, and personal accident insurance.
  • Income Protection: 60% of basic salary if unable to return to work due to an accident.
  • Financial Support: Housing and education loans available.

Ethical Practices:

  • Workplace Integrity: Employee Code of Conduct & Whistleblower Policy.
  • Fair Practices: Commitment to ethical business and fair employment standards.

Financial Inclusion:

  • Expanding Digital Payments: Bridging the gap for unbanked and underbanked populations.
  • Mobile Banking Reach: 2 out of 3 Nepalis have access to mobile banking.
  • Affordable Digital Solutions: Low-cost payment services drive financial access and economic formalization.
  • SME Empowerment: 75% of registered businesses use QR payments for seamless transactions.
  • Driving Digital Inclusion: Promoting a cashless and formalized economy.

Governance Initiatives

Strong Compliance Framework:

  • Adherence to regulatory standards for digital financial services
  • Policy formulation & implementation for daily operations and strategic decisions
  • Transparent fee structure for customers
  • Robust risk management & oversight mechanisms
  • Independent board structure with strong governance practices

Data Privacy & Security:

  • ISO-certified for Information Security
  • Secured communication channels to safeguard data

KYC, AML & Financial Crime Prevention:

  • Rigorous due diligence for network members & international partners
  • Know Your Vendor (KYV) & Know Your Employee (KYE) practices
  • Suspicious Activity Reporting (SAR) & compliance with regulatory bodies

Transparent Reporting & Accountability:

  • Disclosure and reporting in line with compliance & business transparency

Roadmap towards ESG

Future Plans

Sustainable Finance:

Promote digital lending & open banking to cut down paper use and carbon footprint.

Financial Inclusion Expansion:

Strengthen access to financial services in rural and underserved communities.

Strategic Partnerships:

Collaborate with Development Finance Institutions (DFIs) for impactful initiatives.

Roadmap Featured

Long term Vision

Leading Sustainable Digital Finance:

Striving to be Nepal’s most sustainable digital financial service provider.

Sustainability at the Core:

Embedding eco-friendly practices in every aspect of our operations.