Central Bank of Nepal (NRB) to allow international payment of USD 500

According to Maha Prasad Adhikari, governor of Central Bank of Nepal, “Nepal Rastra Bank (NRB) is going to allow international payments through digital wallets.”.  He said this in the FonePay Digital Conclave premiered on Saturday.

governer of nepal rastra bank speaking about NRB rule to allow 500 USD international transation
Maha Prasad Adhikari, Governer of Central Bank of Nepal aka Nepal Rastra Bank (NRP)

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

However, there is no facility to buy foreign e-commerce and other services and subscriptions online. Due to which gaming, paid apps, Amazon Prime and Netflix, international e-commerce services and their payment has become inconvenient for Nepal.

But now online payments are being made open to address this kind of problem. “We are in talks to allow to open a minimum of USD 500 account,” he said.

Speaking at a program organized by Brand Worth and sponsored by Ncell, Governor Adhikari said that foreign online payments should be gradually opened. He further said, “We are also considering opening up the issue of payment service providers seeking their association.

We now have 14 months of foreign exchange reserves. In such a situation, there is no inconvenience to the country when limited international online payments are opened. ‘

He said that it would increase business, various activities and convenience, adding that it was not possible for Nepal to stop the issue opened by the world. “However, it is necessary to study and determine the exact process,” he said.

Rabins Sharma Lamichhane

Rabins Sharma Lamichhane is the owner of RabinsXP who is constantly working for increasing the Internet of Things (IoT) in Nepal. He also builds android apps and crafts beautiful websites. He is also working with various social services. The main aim of Lamichhane is to digitally empower the citizens of Nepal and make the world spiritually sound better both in terms of technology and personal development. Rabins is also the first initiator of Digital Nepal.

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