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Digital payment company PhonePay has been selected as the vice president of the 21st forum of the Asian Payment Network (APN), a joint organization of those working in the field of online payments. Bans Net of the Philippines has been elected as president.
Formed in 2006, APN has 14 member organizations from 13 countries. They are collaborating to make cross-border retail payment systems efficient, secure and cost-effective. Representatives of 14 countries affiliated to APN gathered in Kathmandu for a two-day program.
Attendees discussed the future of cross-border retail payments in Asia . Risk management of fraudulent incidents, exchange of experience and cross-border payments were also discussed in the program. During the discussion sessions, PhonePay expanded on its own experience of regional cooperation and talked about the role of technology in developing a secure payment ecosystem, coordination between regulatory bodies, and technology.
Divash Kumar, Chief Executive Officer of PhonePay, said that holding the APN Forum in Nepal is a sign of our leadership in the field of digital payments. He said, 'This is an opportunity to share learnings and collaborate with regional partners to advance an inclusive and secure financial system .'
