Nepal Telecom got Approval for Mobile Money Service:
Nepal Rastra Bank (NRB) has given permission to a payment service provider company to be a joint venture between Nepal Telecom (NT) and Rastriya Banijya Bank. NRB on Thursday licensed Telecom to launch a mobile money service for digital payment services.
About a month ago, permission was sought for the mobile money service, which is being brought with different features and services from the current mobile payment service provider company.
Telecom is preparing to aggressively expand its mobile money service, which is said to be different from other companies.
Millions of customers will be connected to the mobile money that is being brought by two companies. The mobile money provided by a company called Nepal Digital Company Limited will have different features and services.
The company, which has an authorized capital of Rs 1 billion, has 62 percent investment from Telecom and 38 percent from Rastriya Banijya Bank.
Managing Director of Nepal Telecom, Dilli Ram Adhikari, said that the service is ready to be launched within a month of receiving the license for the mobile money service from the Nepal Rastra Bank.
The first attraction of mobile money invested in two companies is online and offline. The mobile money being introduced by the telco will enable online transactions both when there is the internet and when there is no internet.
Similarly, there will be an arrangement to buy goods from the mobile balance, the telco said. Telecom also says that the mobile money will be focused on the rural people. Similarly, Telecom's mobile money service will focus more on banking wallet services, QR, and paying government revenue.
From paying water, electricity, telephone bills to deducting tickets, paying bills, transferring money, this technology will be useful.
It is estimated that mobile banking will spread to a large community in Nepal if the payment facility is started from Telecom's mobile.
After the launch of the service, Telecom customers will be able to deposit money in their mobile wallets from the existing recharge centers.
Which can be paid from mobile as per requirement. If we look at the statistics, the active SIM card users of Nepal Telecom alone are around 20 million.
Along with this, for the first time in Nepal, the telecommunication service provider company has entered the digital payment service.