Nepal Rastra Bank Payment Systems Department.
Nepal Rastra Bank (NRB), the Central Bank of Nepal and Regulator of the Payment system of the country defines the regulatory framework, and is responsible for the supervision and oversight of the authorised entities in the ecosystem. It is also responsible to develop Tech led innovations to bring in operational efficiency and minimise cost. Thereby, promoting digital payments and increase its adoption. In payment industry, a change can be observed in consumer behaviour: the payments landscape in Nepal is shifting gears from cash to Digital mode. A digital payment brings in ease and convenience to the consumer and is therefore responsible for its growth and adoption. The new age Start-ups and Fin Techs are largely responsible for popularising Digital payment trend. These entities have identified many industries need and provided innovative solution. One such Payment innovation trending the retail space is QR payments. Quick Response (QR) code payments are an alternative to cash or debit/credit card payments. It is an excellent alternative to cash/ debit/ Credit card payments. ...
