Nepal is going through a digital transformation, and the central bank is also playing a key role in facilitating this process. We can see this in the Monetary Policy of Nepal for the current fiscal year 2080/81 as well. The policy contains several exciting initiatives that aim to promote the technology sector (fintech in particular)…
Standard Chartered Bank Nepal has introduced a “Scan and Pay” feature that allows its customers to scan and pay merchant QR codes to make contactless payments at over 200,000 merchant locations under the NEPALPAY network. NEPALPAY QR has been implemented by Nepal Clearing House Limited(NCHL) as part of the National Payment Switch which complies with the NepalQR standards published by Nepal Rastra…
Nepal Rastra Bank (NRB) recently published its latest report on the country’s economic and financial status, highlighting several positive indicators that point to Nepal’s economy exhibiting resilience in the face of the global economic crisis and recession. According to the NRB Report, Nepal’s economy shows a surplus of Rs. 180.17 billion in the balance of payments. Gross foreign…
The Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of US dollars. The central bank has revised a circular issued to banks and financial institutions, raising the ceiling from $500 to $5,000. The revised provision does not apply to the amount received as gifts and tips from foreign friends and clients. However,…
Nepal Rastra Bank (NRB) successfully hosted the “Digital Payment Promotion Walkathon, 2023” in partnership with key stakeholders from the banking and payment industry. The event highlighted the growing momentum behind digital payments in Nepal and showcased the positive impact of digital payments on the Nepalese economy and society. The walkathon proved to be an excellent platform for industry peers…
Digital payment systems like Payment System Providers (PSPs) and Payment System Operators (PSOs) can now receive foreign direct investment (FDI) in Nepal. On Thursday, Nepal Rastra Bank issued a Licensing Policy for Digital Payment Systems through the Payment Systems Department. The document includes a set of rules and guidelines policies for the payment system companies…
Are you fond of lavishly nibbling chicken drumsticks at KFC? When it comes to me, I am not a meat-lover but I can recommend my friends to go to KFC and enjoy with their family or other friends this new year. If your friend is having a birthday around these days, make sure you ask…
NCHL-IPS, the interbank payment system platform under Nepal Clearing House Limited has recently updated its settlement and exchange timings. Transaction sessions that used to take long hours before can now be processed within an hour or not more than 2 hours. But before that, let us know in detail about NCHL-IPS. NCHL-IPS is an interbank…
Thamel Remit Pvt. Ltd., a Nepal Rastra Bank-licensed remit company has recently become a member of Nepal Clearing House Limted (NCHL) and has started integrating its National Payment Switch (NPS) as the domestic rail for instant remittances. This membership enables remittance senders from the USA to directly send money to Nepal in just a few…
PayWell app has rebranded itself with a new logo and the user interface (UI) in its app. PayWell is a digital wallet under PayWell Nepal Pvt. Ltd. It has upgraded its mobile app to the new version 4.0.6 in August 24, 2022. Having a logo made in green, yellow and white color before, this digital…
