Kathmandu. PhonePe Payments Services Limited (PhonePe) has re-appointed Diwas Kumar as its Chief Executive Officer (CEO) for another four years.

Kumar has been leading PhonePe since 2021. He has more than 20 years of experience in banking, technology, electronic payment infrastructure and fintech leadership. As a member of FonePay’s initial team, as Chief Technology Officer, he was instrumental in building the company’s technological foundation.

Under Kumar’s leadership, PhonePe has gone through its most significant growth phase since taking over as CEO in 2021. Under his leadership, FonePay has transformed from an early payment system operator to become a trusted digital payment infrastructure in Nepal.

In his first five year of operation, he has pioneered Nepal’s first Open Loop QR payment system, integrating all banks and financial institutions on a single payment network. Under his leadership, FonePay has become an integral part of Nepal’s daily financial life.

Serving every Nepali in the banking system, and creating growth opportunities for millions of businesses across the country with services such as PhonePay, QR, FonePay, Direct, FonePay, bills, phones, TAG, and FonePay credit cards, has been creating growth opportunities.

The company has been able to surpass 2.5 million transactions per day and over Rs. 15 billion transactions per day.

Nepal’s cross-border digital payment revolution, integrating with payment networks in India and China, has led the digital payment revolution of Nepal. FonePay, in partnership with various banks and financial institutions, has launched a virtual credit card and issued more than 30,000 cards in the last 1.5 years.