The day has finally come when we will be able to conduct financial transactions using our current mobile balance. Yeah, you read that correctly. Namaste Pay, a newly announced digital payment gateway, has made this a possibility.
The new digital payment app has been dubbed “Namaste Pay” by Nepal Digital Payments Company Limited (NDPC), according to the company’s website. Earlier this week, Nepal Rastra Bank granted Nepal Telecom permission to operate its own mobile wallet.
Who is NDPC?
Nepal Digital Payments Company Limited (NDPC) is a public company established by Nepal Doorsanchar Company Limited (Nepal Telecom) and Rastriya Banijya Bank Limited through a joint investment. Their main goal is to make cashless payments simple and affordable for people all over Nepal. They want to boost financial inclusion as well as achieve the national objective of building a digital society.
Namaste Pay: Nepal’s Biggest PSP?
In the background of Nepal, there are currently 27 Payment Service Providers. IME Pay was the highest PSP, and E-sewa was the second largest. However, with the launch of ‘Namaste Pay,’ it appears to be on the verge of taking over the top spot. It has a paid-up capital of Rs. 40 crore. This is the most money that any payment service provider has ever received.
What should we expect?
In the industry, there is a lot of excitement and anticipation for this mobile wallet. When it is eventually launched, everyone will be able to use their mobile balance in the same way they would a bank account. In other words, the mobile balance can be used for financial transactions by both banked and unbanked people of the world. They are also looking to extend cashless payment systems to the grassroots.
In Nepal, the number of digital wallets and payment service providers is rising. However, this form of service is being introduced for the first time in Nepal, where our mobile wallet and SIM card are run by Nepal Telecom. As a result, we can expect other unique and advanced features to excel and set it apart from its competitors.
We’d like to see the following features:
We’d like to see the following features in this upcoming payment service provider:
- Other facilities, such as a mobile app and QR codes, will be available.
- Move the user’s mobile balance to a specified bank account as required.
- Enable the transition of mobile balance between two separate SIM providers to be made easier.
- Feature phone users can benefit from easy-to-use code-based payment services.
For further details, NDPC can be reached at:
Nepal Digital Payments Company Limited (NDPC)
Tripureshwar, Kathmandu, Nepal (Corporate Office),
Bhadrakali Plaza, Kathmandu, (Liaison Office)
Tel. No.: +977-1-4117100
E-mail: firstname.lastname@example.org, Website: http://www.ndpc.com.np
This article has been referenced from NepaliTelecom.com