Nepal’s popular digital online wallet service provider Khalti now has got PSP license. Khalti has now received the license of Payment Service Provider (PSP) by NRB. Nepal Rastra Bank (NRB) or the country’s reserve bank is the governing body for all monetary activities. This means a lot of new things for Khalti. They can now act as a payment settlement provider.
This is very crucial for online payment service providers. This gives Khalti additional power than before. Previously the company was working on Letter of Intent (LOI) from NRB but now it changes. They have more power now and it gives more opportunities. Both the company and users can benefit from this. We can expect many new announcements from the company now.
Khalti can now go full throttle and leave the beta phase. At this time there are 8 lakh users and this can increase as they have more power and options for expansion. Khalti has now power to provide more payment and transaction options. This can include payment settlement through banks, credit cards, debit cards, and other electronics mean. According to the PR, their goal is to bring offline services to online.
The new license has been provided to the company under “Payment and Settlement Bylaw 2072” of Nepal Rastra Bank. After this new power, they can integrate more vendors, merchants, service providers and companies. Khalti can now easily serve money transfer facility to its users which is not a new thing but the framework is now under the new license.
Online Payment Service providers and Khalti
We have a list of best digital wallet and online payment service providers of Nepal. Khalti is also one of them. It is one of the leading company because it has a very good app, good website and there are lots of facilities. We ranked the providers by assessing many criteria. In Nepal, the use of such service is rising day by day. Government is also pushing for online banking and e-services.
Khalti provides options to pay for services such as drinking water, electricity, telephone, and ISP, etc. Online payment makes things easier and saves time for everyone. There is a huge market because banking and mobile penetration are still rising. Government is also encouraging people to use e-banking and online services. As every service is shifting to digital and online work payment is going to be basic infrastructure.
In a very short time, Khalti did very well. They started in 2017 and within two years they got the license. We are one of the early adopters and we have seen their journey. They have very good customer care and support in our experience. The services are also increasing regularly and they are making it easier to use. The recent UI change for app and site was a major positive overhaul. We hope Khalti bring more new exciting features for us users soon and gives benefit to users.
