25 March 2021, Kathmandu
Nepal Digital Company has received permission to operate mobile payment services in collaboration with Nepal Telecom and Rastriya Banijya Bank.
NRB has given permission to Nepal Digital Company to operate mobile payment services on the name ‘Namaste Pay’ on 17 March 2021.
The mobile wallet will provide payment services under the name ‘Namaste Pay’. The company said that the mobile number of Nepal Telecom will use as a digital wallet.
Namaste Pay, Nepal’s first government-run payment service, has more than Rs 400 million in paid-up capital than any other payment service provider.
Nepal Digital company, which has been waiting for approval from the Rastriya Bank for a long time. After preparing the necessary process and infrastructure, the company will now operate the payment service.
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After getting approval from NRB, the company will provide this service by linking the SIM card number of Nepal Telecom to Namaste Pay.
In this service, the company will use Nepal Telecom’s mobile balance as a transaction amount. The sum for mobile payments, on the other hand, will be held in a separate account than the recharge balance.
With the start of this service, customers can easily buy goods and products without the hassle of taking cash in the pocket. Most of the services in Nepal now have cashless services.
Namaste Pay is just like another digital wallet service. The other digital wallet uses the back account. Instead of a bank account, it uses the balance of our NTC SIMs as the source in the wallet.
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