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Mobile money to be launched soon in Nepal – expected to be within Jestha (1)

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The mobile money that Nepal Telecom is going to bring in collaboration with Rastriya Banijya Bank will come into operation from Jestha.

Krishna Prasad Bhandari, chief executive officer of Nepal Digital Payment Company (NDPC), said that the facility using which people can do transactions using mobile balance even if there is no internet will be started from Jestha.

In a virtual program organized on Wednesday, he said that technical work is being done for the operation of mobile money.

Mobile Money Nepal Telecom
Mobile Money from Nepal Telecom

He also said that there is a need to change the general perception that digital should be free. He says it is not possible to make it completely free to make it reliable and sustainable as large capital investment is required for digitization.

He also suggested that the government should pay attention to the issue of providing discounts and facilities on the import of equipment to move digital finance forward at a faster pace.

Speaking on the occasion, Bikram Shrestha, President of Nepal Internet Foundation (NIF), said that quality internet would be the first condition for expanding digital financial access. He said policy support would also be important for further development in this field.

Mobile Money NTC
Mobile Money NTC

“Due to the policy of Nepal Rastra Bank, the number of QR code users has reached more than two lakhs in a short period of time,” he said. He said that although it is not possible to make the entire transaction cashless, it is possible to reduce the use of cash. Mobile money will also help to reduce the use of cash.

In the program, he suggested to focus on creating Nepali content as there is a problem due to the lack of apps in the Nepali language.

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Shubhechcha Khadka, a human rights activist at the Informal Sector Service Center, said that although the recent environment including Covid-19 has promoted financial digitization, the quality and accessibility of services provided by service providers should also be taken into consideration. Hence, mobile money is one of the crucial things to be launched.

Namaste Pay NTC

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