Muktinath Bikas Bank Limited has won three awards at the Fonepay Honors event organised by Fonepay, receiving recognition for digital payment activity in the development bank group. The bank was honoured for Highest Fonepay Direct Volume (Issuer), Highest Fonepay QR Volume (Issuer) and Highest Fonepay QR Volume (Acquirer), with the awards recognising its performance in digital transactions and payments.
Three awards across Fonepay payment categories
The honours span three separate categories, covering both Fonepay Direct and QR payment volumes. Muktinath Bikas Bank received the Highest Fonepay Direct Volume award in the issuer category, alongside the Highest Fonepay QR Volume award for issuers. It also won the Highest Fonepay QR Volume award in the acquirer category.
The results place the bank among the recognised performers in the development bank group at the event. Rather than being limited to one payment channel or one role, the three awards recognise activity across direct payments and QR transactions, as well as the bank's participation as both an issuer and an acquirer.
Recognition of digital transaction performance
Fonepay organised the Honors event to recognise performance in digital transactions and payments. The awards received by Muktinath Bikas Bank reflect its reported volumes across the categories named by the organiser. The recognition covers both sides of QR activity represented in the awards: issuer volume and acquirer volume.
The bank's wins therefore extend beyond a single category. Its two issuer awards recognise its standing in Fonepay Direct and Fonepay QR volumes, while the acquirer award recognises its QR volume in that separate category. Together, the honours acknowledge the bank's performance across these digital payment measures.
What the awards recognise
The category names distinguish the type of payment activity being recognised. Fonepay Direct Volume and Fonepay QR Volume are assessed as separate categories, and the QR awards are further divided between issuer and acquirer. Muktinath Bikas Bank won in all three categories listed for it at the event.
The recognition adds to the bank's profile in digital payments, with the awards highlighting transaction-volume performance rather than a single product or service. The event's focus on payment activity also places the bank's results within a broader recognition of digital transaction performance in the development bank group.
Muktinath Bikas Bank's three Fonepay Honors awards cover a range of digital payment categories: Highest Fonepay Direct Volume (Issuer), Highest Fonepay QR Volume (Issuer) and Highest Fonepay QR Volume (Acquirer). The honours mark the bank's performance in the payment volumes recognised by Fonepay at the event.
