Nepal Rastra Bank Updates Payment System Directive

Nepal Rastra Bank has made an amendment to the Integrated Directive on Payment Systems, 2082, incorporating provisions related to national identity cards for wallet users.

According to a circular issued by the Payment Systems Department on Friday, the revised provision requires payment service providers to verify the details of Nepali citizens, including their national identity card information, before opening a wallet.

Furthermore, authorized institutions are required to obtain a self-declaration from wallet users through mobile applications or other suitable means by the end of Ashar 2083, confirming whether they have a national identity card or not.

Provisions for National Identity Card Holders

As per the directive, Nepali citizens who have obtained a national identity card must update their wallet with their national identity card number by the end of Ashar 2083.

Those who do not have a national identity card are required to update their information after obtaining the card, with the provision that they will be informed every month.

Provisions for Nepali Citizens Living Abroad

The provision allowing Nepali citizens living abroad to open an electronic wallet online from abroad, based on necessary documents, remains unchanged.

Such users are required to update their national identity card information with the concerned institution within six months of returning to Nepal.

Provisions for Incapacitated Citizens

The revised directive also includes provisions for incapacitated and helpless citizens, allowing them to open a wallet and conduct transactions based on their national identity card or national identity card number, as well as other necessary documents.