Nepal Rastra Bank is going to open a facility to make international payments through digital medium. Governor of Nepal Rastra Bank Maha Prasad Adhikari informed this at the PhonePay Digital Conclave released on Saturday.
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Last August, Nepal Rastra Bank had facilitated the system of receiving international digital payments. Currently, Nepali travelers going abroad have the facility to spend up to 1500 US dollars through the card on the basis of passport.
However, there is no facility to buy foreign e-commerce and other services and subscriptions online. Due to which gaming, paid apps, Amazon Prime and Netflix, international e-commerce services and its payment has become inconvenient for Nepal.
But now online payments are being made open to address this kind of problem.
"We are in talks to open a $500 account," he said.
At a program organized by Brand Worth and sponsored by Ncell, Governor Adhikari mentioned that foreign online payments should be gradually opened. He further said, "We are also thinking of opening up the issue so that the payment service providers can find their association.
We now have 14 months of foreign exchange reserves. In such a situation, there is no inconvenience to the country when limited international online payments are opened.
He said that it would increase business, various activities and convenience, adding that it was not possible for Nepal to stop the issue opened by the world. "However, it is necessary to study and decide on a definite process," he said.
