Online Payment System in Nepal

Online Payment System on itself it's a modern technology for the whole world. Obviously, this technology is quite new for developing nation like ours. It has been just a few couples of years we get familiar with the online payment system. The first online payment service provider was eSewa (Estd. in 2009) and was licensed by Nepal Rastra Bank as Payment Service Provider in 2017. Other two payment service providers IMEI Digital and Prabhu Technology receive a license in the same year. Since then the transaction through these online payment systems gets validated. This provided ways to make online and offline payments, transfers funds to various banks, purchasing items online, and other various electronic transactions.

Online Payment System

Till date, eight companies in total get approval from Nepal Rastra Bank across the country to operate an online payment system or digital wallet service and 35 other companies get their Letter of Intent approved (i.e. will receive operational certificate within six month for operating online payment services). However, twelve different companies are operating online payment services currently. There is a rise in competition among online payment service providers.

The approved Payment System Providers are:

• e-Sewa Phone Pay Pvt. Ltd: Since 2009 a trusted internet payment service and still today a leading online payment service provider in Nepal offering wide range of payment solutions. 
• IME Digital Solution Limited: A mobile payment service allow payments of utility bills, mobile top-up, money transfer and even withdrawal of cash from IME agent. 
• Salecom Pvt Ltd: Company experienced in designing and manufacturing various kind of switches and supplying. 
• CG Pay Nepal Pvt Ltd, 
• Khalti Digital Wallet: Since 2010, easier payment system, reliable for any kind of payment services, best practice from offline to online. 
• Prabhu Technology: IT company Estd. 2014, provide high-quality electronic fund transfer service.
• Nepal Clearing House Limited: Provide easy Interbank Payment System (IPS) through safely and efficiently fund transfer. 
• Smart Choice Technology: A tech company involved in creating an integrated shared services network for ATMs, and supply ATM cards.

The other Payment System Providers are iPay, Qpay, nPay, ePay, etc.

Nabil Bank and Himalayan Bank are also serving as Payment Service Provider.