Preparations ongoing to introduce national payment gateway: NRB

KATHMANDU: Nepal Rastra Bank (NRB) is mulling over introducing a national payment gateway in a bid to monitor digital payment system and transactions.

According to Deputy Governor at NRB Chinta Mani Shiwakoti, a service that would aid the real-time gross settlement would come into effect within the next 18 months.

“VAT, income tax, and excise duty payments can be made digitally, once the service comes into operation,” Shiwakoti said.

Likewise, the central bank has started preparing laws to regulate digital payment system.

“The bank is preparing a draft of the act related to the issue,” Shiwakoti informed.