‘Hello Pay will be operational by mid-June, we will lead the market soon’
The new payment service provider (PSP) Namaste Pay, which is coming to the market, will be operational within two weeks. Preparations are underway to start Namaste Pelai by mid-June.
Namaste Pay is coming into operation in a joint venture of Nepal Telecom and Rastriya Banijya Bank.
Managing Director of Nepal Telecom, Dilli Adhikari, said that final preparations are being made for the operation even though the goods were delayed due to the corona infection.
“Now we have intensified the work. “Interconnection agreements are being signed,” the official said. “We will probably bring the service into operation by mid-May.”
He said that the operation was delayed due to the corona infection affecting the import of equipment.
Due to non-availability of cargo plane and lack of regular flights, goods could not arrive on time. The people of the supplier company had more problems when they were infected with the corona while connecting the goods and operating the system.
He said that Namaste Pay will be established in the market soon as there is a need for a reliable partner in the market despite the challenge of competition in the market.
“It depends on what kind of company you come to trust,” the official said. “Both Nepal Telecom and Banijya Bank earn trust as they are government companies.”
At present, less than 10 percent of the country’s total payments are in digital transactions. He said that it should be expanded and digital payment company should be working for that.
Also, as it brings an international level solution, we will soon lead the market in a digital payment company, ‘he said,’ which is expected to help build a castleless society. ‘
“Even now, our society treats cash as money and checks as money, so there is more work to be done,” he said.
The company has the highest authorized capital and paid-up capital. With the backup of the ‘Giant’ company with the help of the company, it will be easier to operate and win the trust of the consumers quickly, the official said.
As per the details released by Nepal Rastra Bank, the paid up capital of Nepal Digital Payments is Rs. 400 million. Namaste Pay was approved by the National Bank on March 19.
In terms of paid-up capital, Namaste Pay is the largest of the 28 payment service providers approved by Nepal Rastra Bank.