Government of Nepal to launch its digital payment system

The Government of Nepal is rolling out a digital payment system by the end of April. The roll out will be in phase wise. The first phase will have the system implemented in offices like Office of the Company Registrar, Transport Management Offices, Inland Revenue Department and the Public Service Commission. This will enable the citizens to pay their taxes and bills through their smart phones.

This plan to digitize the payment system was announced back in 2018-2019 budget announcements. The working guidelines are to be released by mid-March. This system will allow customers to get quick service, reduce tax evasion, overcharging and make transactions transparent.

Nepal Rastra Bank, the country’s central bank has set certain transaction limits. For the first transaction the customers are allowed only Rs. 5000, Rs. 10000 per day and Rs. 25000 a month for e-wallets. Customer needs to link their bank account to this service.

The software has been already ready and is currently being tested. Later, the authorized body plans to extend the services by connecting with telecom service providers, utility companies, e-wallet companies and many others.

The digital payment system will reduce the workload of the government staffers while saving time of consumers.

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