Mobile Money is Ready, Now Nepal Telecom's Phone Number is the Mobile Wallet
Mobile Money is ready, now Telecom's phone number is the mobile wallet
Kathmandu.A subsidiary of Nepal Telecom has developed a mobile app required to operate mobile payment services.
The company, which will be a joint venture between Rastriya Banijya Bank and Telecom, is preparing to use Telecom's mobile number as a digital wallet.
According to Dilliram Adhikari, Managing Director of Nepal Telecom, the app is scheduled to be launched by Nepal Rastra Bank on March 25.
"As the Nation Bank has already studied the entire system including QSSD, only the app will be viewed tomorrow," the official said. But now the mobile app is ready.
It has been mentioned that the permission process will move forward as soon as the NRB reviews the app. Earlier, the company had submitted an application to the National Bank for a license to operate the service. On the basis of that, it has been mentioned that NRB has already conducted necessary study on company registration, office, employees, software, network etc.
NRB has stated that the license for mobile payment service will be issued after studying the remaining apps. After the permission, the digital payment company will start the service so that the mobile number of the telecom can be used as a digital wallet. From which they can easily pay for various goods and services.
According to the information received, the amount for mobile payment will be kept in a different account than in the form of recharge balance. This option has been put forward to make mobile money cheaper as recharge will be taxed including telecommunication service fee.
