Digital Payments in Nepal

7th March 2021, Kathmandu

Nepal Rastra Bank has given a payment service provider license for the digital wallet company iPay Digital Wallet. The central bank has issued the company a license to make digital payments across the telecommunications network and the Internet according to ‘Payment and Sales Regulations 2072.’

Chairman of iPay Amrit Tuladhar expressed his happiness at the approval of the quality and systematic service that iPay has been providing in Nepal since 2010.

“We feel that this has helped us do better in the sense of supporting cashless digital payments in Nepal,” he said.

In the form of online payment and digital wallet, iPay has been allowing users to purchase goods and services online from various businesses through the Internet and mediate payments.

iPay has provided its digital wallet and payment services free of charge to both personal and business users.

According to iPay Chief Executive Officer Amir Maharjan, over 500,000 active iPay users are active across the country. The company has more than 1,000 agents.

For the past decade, it has been providing mobile recharge/top-up, electricity and water bills, internet and television bills, movie ticketing, plane ticketing, etc., and online payment of goods and services purchased through e-commerce.

Nowadays, the company has stated that it will provide more up-to-date digital financial services to make the everyday lives of consumers simpler.

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