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NRB Releases Unified Directives 2078 with Updated Transaction Limits for PSOs, PSPs

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NRB Releases Unified Directives 2078 with Updated Transaction Limits for PSOs, PSPs


Nepal Rastra Bank has recently released the Unified Directives for Payment Systems- 2078 on Tuesday (14th of September, 2021). On this 63-page document, NRB has updated the rules and guidelines for the payment systems including PSPs, PSOs, and mobile banking systems. The Payment Systems Department has published this document on NRB’s website.

The unified directives include rules and guidelines regarding various payment services under the following heads:

  • Electronic Cards
  • PSPs using telecommunications services for digital payments on domestic currency
  • QR code operators, settlement banks
  • Transaction limit for electronic cards, mobile banking and internet banking systems
  • Transaction and charge limits for digital wallets

Unified Directives- 2078: provisions for payment systems

#NRB licensed BFIs and companies can issue QR-based debit/credit and prepaid cards

The banks and financial institutions as well as other PSPs can issue the cards with QR codes after meeting up the requirements. Similarly, it depicts that the ATM cards issued by the banks must support either chip or PIN usage. However, Near Field Communication Technology (NFC) Contactless cards do not require a PIN.

  • All “A” class, “B” class and “C” class BFIs can issue electronic payment cards like debit/credit cards and prepaid cards
  • BFIs other than Class “A”, “B” and “C” cannot issue credit cards
  • Payment System Providers (PSPs) other than BFIs can issue only the prepaid cards
  • BFIs can not issue more than one debit/credit card to a natural person

Banks need to allow free cros

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