Nepal Payment Card

1st April 2021, Kathmandu

Nepal Rastra Bank will issue a Nepali ATM card known as the ‘Nepal Payment Card.’

Until recently, Nepal’s banks and financial institutions accepted international payment cards such as Visa, Master Card, UnionPay ‘Corp Card,’ and STC’s Dynastic Card.

Due to the fact that millions of Nepali rupees are spent per year on the use of foreign cards. The central bank intends to introduce domestic electronic cards.

According to Bhuwan Kandel, executive director of the NRB payment system department, the central bank will use the electronic payment card ‘Nepal Payment Card’ by establishing a payment switch in Nepal.

“So far, transactions with foreign payment switches and foreign cards have cost up to Rs 6 per transaction,” Kandel said. So now NRB will be released Nepali payment card.

In the first phase, this Nepal Payment Card can only be used in Nepal. The second phase will be connected to foreign cards and will be available in other countries as well.

He said that the amount to be charged to the foreign company would be maintained in the country. When the foreign network is used in ATM transactions following the use of the Nepal Card.

You may like this: NRB Issue Prepaid Dollar Cards with a Maximum Value of $500

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Mina Aryal is a Nepali tech journalist and media expert. She is currently the chief editor of ICT Frame, a leading online tech media outlet in Nepal that covers topics such as technology, business, and entrepreneurship. Aryal has been involved in the field of tech journalism for over a decade and has covered various topics such as internet governance, cybersecurity, e-commerce, and startup ecosystems. She has also been involved in organizing and promoting tech events in Nepal to bring together tech enthusiasts, entrepreneurs, and investors to discuss and collaborate on various topics related to the tech industry. Aryal is considered one of the most influential tech journalists in Nepal and has been recognized for her contributions to the field.

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