NRB Planning to open Payment gateway

NRB Planning to open Payment gateway.

Now you can pay for Netflix and Amazon from Nepal. Nepal Rastra Bank has included the issue of payment gateway of international digital services. And e-commerce in the first quarterly review of monetary policy.

Point No.66 of the Monetary Policy Review Report states that an arrangement will be made to import foreign goods and services. Up to a certain amount through online and provide exchange facility in foreign currency.

Just a few days ago, the Governor of Nepal Rastra Bank. Maha Prasad Adhikari, had said that discussions were underway on the arrangement of international payments of up to USD 500 online.

Related: What is a ‘National Payment Gateway’? When it start?

As soon as the issue is formally introduced in the monetary policy. NRB is busy with the homework of making necessary legal arrangements.

Soon, services like Amazon, Netflix and international e-commerce companies will be able to pay for the goods from Nepal. Due to lack of legal provisions, such payments from Nepal are considered illegal In Nepal. and Nepali consumers are deprived of the benefits of world-class services.

Nepal is not currently under the international service and small-scale procurement system. Some transactions have been done through checks.

Director of the foreign exchange management department said that arrangements to pay up to $500 through wallet to stop this illegal transaction.

Last August, Nepal Rastra Bank had facilitated the system of receiving international digital payments. Currently, Nepali travelers going abroad have the facility to spend up to 1500 US dollars.

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