Author: Radha Sapkota

NIC Asia Bank has introduced the “Quick Pay” service for the first time in the Nepalese banking sector targeting SMEs and MSMEs, where the seller can receive payment easily by just sending a payment link to the buyer. The payment is then directed when the buyer simply clicks on that link. Targeting the entrepreneurs in the fields of hospitality, travel / tours, telemedicine, online education, small and medium enterprises, the bank has started this service for rendering a hassle-free payment method where you would not be required to click on numerous tabs for making payments. Just remember how you join…

Every time you might not be in the reach of a stable internet connection. In that case, you might have been using your mobile SIM data for almost all sorts of internet usage. But the painful part is when you do not have enough balance to subscribe to the data pack. To ease this, Nepal Telecom (NTC) has offered huge data packages at affordable prices which you can subscribe to directly through your Khalti Digital Wallet Account. NTC has introduced a Large Data Pack Offer which could be subscribed through your Khalti account. Now you can buy a total of…

Gone are the days where you would have been complaining about how you couldn’t get that Netflix subscription or buy a domain for your website. Finally, the banks are on a spree to issue a Prepaid Dollar Card to their customers for making international payments online from Nepal. Abiding by the circular issued by NRB on 21st March 2021, a total of 46 commercial and development banks have started to issue prepaid dollar cards to their customers. As per the rule, a customer can obtain only one single prepaid card which could be used to make payments up to $500…

We are well aware that the world is heading towards lessening the effect of global warming through subtle yet significant efforts like adapting to electric vehicles and lower-carbon emitting transports. What if we tell you that Nepal is also being a part of it? Yes, you got it right! For the first time, Shireto, a team from Nepal is competing in Shell Eco Marathon with its battery-electric vehicle (EV). This team consists of 10 engineering students from IOE Thapathali Campus, who are intensely focused on designing, manufacturing, and testing electric vehicles that could achieve the highest energy-efficiency as much as…

Nepal Clearing House Limited (NCHL) has revised the daily transaction limit for making payments through connectIPS. It has doubled the daily transaction limit for mobile apps and web application of connectIPS for making payments. Now one can transfer a sum total of NRS 2 lakhs from the mobile app and NRS 20 lakhs from the website of connectIPS per day. Previously, the limit was set to NRS 1 Lakhs and NRS 10 lakhs for mobile app and web apps respectively. According to NCHL, this new transaction limit for connectIPS users has been in effect from the 1st of Chaitra, 2077.…

Nepal Rastra Bank has issued a circular regarding the international payment for purchase of goods and services online. The document from the Foreign Exchange Management Department stated some amendment has been made on Unified Directive- 2076, which reads that it could issue prepaid dollar card with a maximum limit of $500 for easing the international payments to Nepali nationals. It means, one can now enjoy the products and services from Amazon, Netflix and other international companies by paying online through a legitimate medium. It would solve the problem where people needed to use the PayPal or other cards of their…

Nepal Telecom has got approval from Nepal Rastra Bank to operate its Mobile Money from its subsidiary company Nepal Digital Payments Company Limited. Through the Mobile Money system, the users can purchase goods and services or perform digital transactions through the balance in their mobile SIM. Nepal Digital Payments Company Limited is a joint venture of NTA and Rastriya Banijya Bank Limited. On the panel discussion of the Fonepay Digital Economy Conclave held formerly on 28th of November, 2020, Mr Kiran K. Shrestha, CEO of Rastriya Banijya Bank (RBB), had informed that RBB in collaboration with Nepal Telecom was going…

CG Telecom, a unit of the first multinational company of Nepal- Chaudhary Group is going to bring its own internet service in operation. The company has been going through the construction of necessary infrastructures for setting up the fiber internet services and is planning to appear aggressively in the market. The company is also building a data center in Satungal, Kathmandu to operate internet services. According to the sources, about 25% of the work has already been completed. In this regard, the company will have all the necessary requisites to bring fiber internet into operation in some places including Satungal…

IME Pay has recently added QR based payments from FonePay. According to them, this wallet provides all QR Payments through the IME Pay wallet app. With this integration, now IME Pay accepts the QR payments from the QR payment service operators like Smart QR, FonePay, UnionPay and IME Pay itself. On March 1, 2021, Nepal Rastra Bank had brought Nepal QR- Standardization Framework and Guidelines into effect in order to guide for integrated QR based payments in Nepal. Before that, the situation was such that the users were required to have separate mobile wallets for separate QR codes available for…

The COVID-19 pandemic has been agreed unanimously by most of the financial institutions (including Nepal Rastra Bank itself) to become a catalyst in accelerating the use of digital payment services in Nepal. As a matter of fact, a long imposed lockdown with social distancing protocols had restricted people to opt for making cash transactions at large, whereby it fueled the pace of digital transactions in the country. As the monetary authority of the country, Nepal Rastra Bank has published its current macroeconomic and financial situation report of the last eight months (from Mid-July 2020 to Mid February 2021), where it…