¶ Introduction to Project: Koili
BitsKraft's Project Koili is a major fintech initiative by BitsKraft Pvt. Ltd., a software engineering firm based in Kathmandu, Nepal. The product Koili is an Instant Voice Payment Notification System (IPN) designed to improve the reliability, accessibility, and security of QR-based digital payments.
¶ 2. What Is Koili ?
Koili is a payment notification device that provides immediate audible confirmation of digital transactions conducted via QR codes. It:
- Instantly announces payment notifications via voice.
- Supports multiple languages, including Nepali, Newari, Maithili, Bhojpuri, and English.
- Helps to reduce fraud risks, such as QR scan fraud and delayed SMS alerts, by providing real-time confirmation.
¶ 3. Purpose & Key Features
Instant Audio Confirmation: When a customer pays via a QR code, the Koili device (an IoT-based voice terminal) provides an immediate audio alert confirming the transaction. This eliminates the need for merchants to check their phones or wait for SMS notifications.
Fraud Prevention: It addresses "QR scan fraud" by ensuring the merchant hears a verified audio confirmation, preventing customers from using fake or old transaction screenshots to deceive them.
Multilingual Support: To ensure inclusivity, the system supports multiple local languages, including Nepali, Newari, Maithili, Bhojpuri, and English, catering to merchants who may not be proficient in Nepali or English.
Bank Integration: The project is integrated with major payment networks in Nepal (FonePay, NCHL, and SCT) and has been adopted by several "A-class" banks. A notable partnership is with Everest Bank (EBL), which introduced the service to its QR merchants.
IoT & Reliability: The terminal uses IoT technology for remote management and updates. It boasts a 99.99% uptime guarantee for its voice messaging gateway.
¶ 4. Commercial Deployment & Collaboration
A major implementation of Koili has been rolled out in partnership with Everest Bank. The bank integrated the Koili IPN terminals for its QR merchants, enabling real-time voice notifications.
This marks a strategic step in digital financial transformation and promoting a cardless, cashless society in Nepal.
Today, Koili IPN feature has gained widespread institutional trust, with more than 20 banks adopting the technology to empower their merchant services.
¶ 📚 Koili's Offical Website:
- Official Page of Koili (कोइली : सुरक्षित भुक्तानीको आवाज)