Nepal Rastra Bank is preparing to introduce a national payment gateway in a bid to conduct a regular monitoring of the digital payment system.
Speaking amidst a special interaction program organized on January 5, 2018 in Kathmandu to discuss the paths ahead for the development of Financial Technology in Nepal, Deputy Governor of the central bank Chinta Mani Shiwakoti informed that the service that helps in the real-time gross settlement would come into effect within the next 18 months.
“All payment systems will be monitored, and all payments of VAT, income tax, and excise duty can be made digitally, once the national payment gateway comes into operation,” he said on the occasion.
Likewise, the central bank is also preparing to make new laws to facilitate the digital payment. “The bank is preparing the draft of the act related to the issue,” Siwakoti informed.