In a small shop along the bustling Norzin Lam, a woman buys a Nu 50 packet of doma. There’s no cash exchanged, no fumbling for change—just a quick scan of a QR code, a few taps on her mobile screen, and the transaction is done. This scene, once rare, is now routine in Bhutan’s capital and across the country, signaling a significant shift in the way Bhutanese people pay.
According to the Royal Monetary Authority’s (RMA) latest Quarterly Payment System Report, digital banking has reached new heights. In the first three months of 2025 alone, Bhutan recorded over 38 million mobile banking transactions, marking a 4.3% increase compared to the same period last year.
A major driver of this growth is the rapid adoption of QR code payments. From bustling urban streets to quiet village shops, QR transactions are now ubiquitous. Between January and March, nearly 33 million QR payments were processed, amounting to more than Nu 33.5 billion.
“For us, QR payments are very useful. Customers don’t carry much cash these days—even if they buy something worth just five ngultrum, they use their phones to pay,” said Sangay, a shopkeeper in Thimphu. Another vendor, Nanda Lal Pradhan, agreed, noting the convenience and accuracy QR payments offer: “People may not have cash, but they always have their phones. And the best part is, they pay the exact amount.”
Beyond convenience, digital payments also serve a broader economic function. The RMA emphasizes that electronic transactions create transparent, traceable records—helping monitor money flows and improving tax compliance. Economists add that real-time payment data equips the Central Bank to make quicker, better-informed decisions on matters like monetary policy and interest rates.
The popularity of mobile banking is reflected in user registration data as well. Over 45,000 new mobile banking users signed up during the first quarter of this year. DK Bank led the growth, adding more than 20,000 users, while T-Bank recorded the lowest increase with just over 1,000.
Meanwhile, traditional payment methods are in decline. Cheque usage and ATM withdrawals dropped by around 27% in the first quarter. Still, the RMA notes the continued importance of ATM infrastructure, particularly for regions with limited internet access and for visiting tourists. Currently, 249 ATMs operate nationwide.
As Bhutan continues to digitize its economy, experts believe this evolution in payment habits is just the beginning. With expanding access to smartphones and internet services, digital transactions are expected to grow even further—offering not only convenience but also a more efficient and transparent financial system.
The future of money in Bhutan, it seems, is already in the palm of the hand.
