Nepal Rastra Bank has provided Khalti with a license of Payment Service Provider (PSP) under its ‘Payment and Settlement Bylaw 2072’ for Wallet Services through telecommunication technology and internet, as per the press statement released by Khalti on April 24. Along with digital payment services, now Khalti can also provide domestic money transfer facility and mobile financial services in Nepal.
Elated after being awarded the PSP license by NRB, Manish Modi, Managing Director of Khalti shared, “Digital payment is a very recent phenomenon in Nepal. Till today, people have to walk for days to reach district headquarters to perform tasks as simple as paying electricity bills. We are excited to get the license from NRB. It has encouraged us to expand digital payments more aggressively across the country. We aim to expand our services in rural and remote parts of Nepal and add different verticals to our platform. We will work to make online payments possible in every corner of the nation to achieve the vision of Digital Nepal. We will work to bring access to finance to underprivileged population of Nepal and simplify their lives.”
