Government Prepares Draft Law to Allow Foreign Companies to Operate Payment Services in Nepal

Kathmandu – The government has prepared a draft amendment to the Payment and Settlement Act, 2018 to allow foreign companies to obtain licenses for operating payment systems and providing payment services in Nepal, similar to domestic firms such as PhonePe, eSewa, and Khalti. Currently, nine companies, including PhonePe, Nepal Clearing House, and Visa, are licensed…