Nepal Telecom has finally launched its digital payment service: Namaste Pay, at a program in the capital on September 14, 2021 (Bhadra 29, 2078). One of the great features of the Digital payment mobile money service is the ability to perform offline transfers, payments that is, without the use of the internet. You can also make online payment using a mobile app.
In the program, MoIC Secretary and NT Chairman Mr. Baikuntha Aryal, Rastriya Banijya Bank’s Chairman Mr. Ram Sharan Pudhasaini, NTA Chairman Mr. Purushottam Khanal, NDPC’s board members, NTC & RBB’s Senior officials were present. Namaste Pay’s logo, its android app, and shortcode for USSD service were unveiled at the event.
Namaste Pay is the mobile money service set up by Nepal Telecom and Rastriya Banijya Bank (RBB) with an authorized capital of Rs. 1 billion. This government-run digital payment app has become the mobile wallet with the largest paid-up capital of Rs. 400 million.
Actually, they intended to officially launch the app firstly within Jestha and then on the National ICT day but due to no readiness, the plan changed. The payment service had to go through several services/banks integration, and rigorous testing to make it officially available for the public.
Namaste Pay: both an online and offline mobile wallet
Namaste Pay is not only the first government-run payment service provider (PSP), but also, the first offline mobile wallet. It means the user need not have an internet connection to make digital payments.
Up until now, there were only online digital payment platforms for the users to make transactions. It required smartphones and an internet connection. With the use of Namaste Pay, NT users with feature phones (non-smartphones) can also make offline transactions anytime and anyplace.
The payment system will use the mobile number as a digital wallet. The ability to use mobile balance funds to pay bills like electricity bills, water bills, etc, will not come now due to the regulations’ restrictions.
So there will be two separate accounts for the mobile number, one for Mobile balance and another for Namaste pay wallet. This feature helps to skip the taxes included in the service charges. Such an option makes mobile money service cheaper and easier.
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For payment, the company also uses the USSD channel which has a fast response. Then, by typing the USSD code, the users can make offline transactions. This option is much secure than SMS too. It will also help non-smartphone users and digitally illiterate people to access such payments.
For online users, a mobile wallet app will be available. Rashtriya Banijya Bank will act as a settlement bank for payment services. As
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