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Nepal

NP · NPL

Country facts

Currency
Nepalese rupee (NPR) — ₨
ISO codes
NP · NPL
Calling code
+977
Internet TLD
.np
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Officially: Federal Democratic Republic of Nepal

A. Payments Landscape Summary

  • Nepal operates a dual-track payment ecosystem combining legacy banking infrastructure with rapidly expanding digital financial services.
  • The Nepal Rastra Bank (NRB), established 1956, provides apex regulatory oversight of banks, fintech, and payment service providers.
  • Domestic payment infrastructure includes the RTGS system (via NRB), connectIPS clearing house for retail payments (operated by Nepal Clearing House Limited), and the NCHL infrastructure.
  • Nepal's payments landscape is characterized by rapid digital wallet adoption (eSewa as dominant platform), extensive mobile money services (mobile operators and fintech), QR-based payments (growing), and substantial remittance infrastructure serving Nepal's large diaspora, particularly in Middle East and Asia.
  • The country has implemented ISO 20022 standards and participates in SAARC payment cooperation initiatives.
  • Digital financial inclusion is a government priority, with regulatory framework supporting fintech innovation (digital wallets, lending platforms, payment aggregators).
  • Nepal uses SWIFT for international banking relationships.
  • Major commercial banks (Global IME, NIC Asia, Nabil, Nepal Bank, Rastriya Banijya Bank, Mega Bank, etc.) provide domestic payment services.
  • The ecosystem is transitioning from cash-heavy economy toward digital payments, though cash remains substantial in rural areas and informal economy.

B. Payment Systems Inventory

B1. Nepal Rastra Bank (NRB) - Central Bank & Payment System Regulator
  • Aliases: NRB, Central Bank of Nepal, Monetary Authority
  • Category: banking_supervision, regulatory_oversight, monetary_policy
  • Description: Nepal Rastra Bank, established 1956, is the apex banking and payment system authority for Nepal. Manages monetary policy, prudential regulation of banks and financial institutions, payment system oversight, and issuance of Nepalese Rupee (NPR). Regulates all domestic banks, digital financial service providers, and payment systems.
  • Operator: Nepal Rastra Bank
  • Operator Type: Central bank and primary regulator
  • Regulatory Oversight: N/A (apex regulator)
  • User Segment: All licensed banks, financial institutions, digital financial service providers
  • Availability: Ongoing regulatory framework
  • Use Cases: Payment system governance, bank licensing, prudential regulation, monetary policy, digital finance oversight
  • Settlement Type: N/A (regulatory function)
  • Domestic/Cross-border: Domestic and international coordination
  • Status: Operational
  • Launch Year: 1956 (establishment)
  • Official URL: https://www.nrb.org.np
  • Technical Notes: NRB maintains banking regulations, prudential standards, digital finance guidelines, and payment system directives. Oversees RTGS and clearing house systems. Licenses and regulates digital wallet providers, payment service providers, and fintech operators. Implements ISO 20022 standards for payment infrastructure.
  • Evidence Note: NRB documented as apex banking and payment regulator
  • Sources: NRB Official Website; NRB Payment Systems Division
B2. NRB RTGS (Real-Time Gross Settlement System)
  • Aliases: RTGS Nepal, NRB Real-Time Settlement
  • Category: interbank_settlement, rtgs, high_value_payments
  • Description: NRB RTGS is Nepal Rastra Bank's real-time gross settlement system for high-value and time-critical interbank payments. Provides continuous settlement of large-value transactions on gross basis (transaction-by-transaction real-time finality). Core infrastructure for interbank settlement, central bank operations, and large corporate payments. All commercial banks maintain settlement accounts at NRB.
  • Operator: Nepal Rastra Bank
  • Operator Type: Central bank RTGS operator
  • Regulatory Oversight: NRB
  • User Segment: Licensed commercial banks, financial institutions, large corporations
  • Availability: Business hours operation (typically 9:00 AM - 4:00 PM Nepal time)
  • Use Cases: Interbank settlements, large-value transfers, time-critical payments, clearing house settlements
  • Settlement Type: Real-time gross settlement in NPR via NRB accounts
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2007-2008 (operational implementation)
  • Official URL: Contact NRB Payment Systems Division
  • Technical Notes: NRB RTGS operates on standardized message formats (SWIFT/ISO 20022 compatible). Provides transaction-by-transaction finality. Interconnects with Nepal Clearing House (NCH) for retail clearing operations. All licensed banks required to maintain reserve accounts at NRB.
  • Evidence Note: NRB RTGS documented as operational real-time settlement system
  • Sources: NRB Payment Systems; NRB Banking Regulations
B3. NCHL (Nepal Clearing House Limited) - Clearing House & ACH Infrastructure
  • Aliases: Nepal Clearing House, NCHL, connectIPS Operator
  • Category: clearing_house, acH_system, batch_clearing
  • Description: Nepal Clearing House Limited (NCHL) operates Nepal's primary clearing house and automated clearing house (ACH) infrastructure. Processes cheque clearing, electronic fund transfers, direct debits, and credit transfers on batch basis with daily settlement via NRB RTGS. NCHL also operates connectIPS platform for interbank payments and connectivity. Core infrastructure for retail payment processing across Nepal's banking system.
  • Operator: Nepal Clearing House Limited (NCHL - banking consortium entity)
  • Operator Type: Clearing house operator
  • Regulatory Oversight: Nepal Rastra Bank (NRB)
  • User Segment: All licensed commercial banks in Nepal
  • Availability: Daily clearing cycles; 24/7 connectIPS connectivity
  • Use Cases: Cheque clearance, EFT batch transfers, direct debits, salary payments, bill payments, interbank transfers
  • Settlement Type: Batch clearing with daily RTGS settlement, plus real-time connectIPS settlement
  • Domestic/Cross-border: Primarily domestic; connectIPS enables interbank connectivity
  • Status: Operational
  • Launch Year: 1990s-2000s (clearing house operations); connectIPS 2000s+
  • Official URL: https://www.nchl.com.np
  • Technical Notes: NCHL processes millions of retail transactions daily. Multiple clearing cycles per day for cheques and paper-based instruments. connectIPS platform provides real-time interbank message exchange. Migration to ISO 20022 standards underway. Primary link between retail clearing and NRB RTGS.
  • Evidence Note: NCHL documented as primary clearing house and connectIPS operator
  • Sources: NCHL Official; NRB Clearing House; Nepal Payment Systems
B4. connectIPS (Interbank Payment & Connectivity Platform)
  • Aliases: connectIPS Nepal, Interbank Connectivity Platform
  • Category: payment_switch, interbank_platform, real_time_payments
  • Description: connectIPS is Nepal's interbank payment platform operated by NCHL. Provides real-time message exchange, fund transfer capabilities, and connectivity infrastructure between all licensed banks. Enables P2P transfers, merchant payments, and interbank transactions with near-real-time processing. Critical infrastructure for modern Nepal banking connectivity.
  • Operator: Nepal Clearing House Limited (NCHL)
  • Operator Type: Interbank payment platform operator
  • Regulatory Oversight: NRB
  • User Segment: All licensed commercial banks, financial institutions
  • Availability: 24/7 real-time operation with high availability SLAs
  • Use Cases: Interbank P2P transfers, merchant payments, bill payments, funds movement between banks
  • Settlement Type: Real-time or near-real-time with daily RTGS settlement
  • Domestic/Cross-border: Domestic interbank platform
  • Status: Operational
  • Launch Year: 2000s-2010s (operational)
  • Official URL: https://www.nchl.com.np
  • Technical Notes: Provides real-time fund transfer capability between banks. Standardized message formats (ISO 20022 compatible). 24/7 operation. Interconnects all licensed banks. Underlying infrastructure for digital payment services (wallets, banks) to clear interbank transactions.
  • Evidence Note: connectIPS documented as interbank payment platform
  • Sources: NCHL connectIPS; NRB Payment Infrastructure
B5. SCT (Smart Choice Technologies) - Domestic Payment Switch
  • Aliases: SCT Nepal, National Payment Switch, Retail Payment Switch
  • Category: payment_switch, domestic_payments, eft_switch
  • Description: SCT (Smart Choice Technologies) operates Nepal's domestic payment switch and electronic fund transfer switch. Provides interconnection for ATM networks, debit card POS terminals, and interoperable retail payments. Enables customers to use any bank's ATM and any merchant POS terminal nationwide with cards from any issuer.
  • Operator: Smart Choice Technologies (SCT) Ltd - Nepal payment switch operator
  • Operator Type: Payment switch operator
  • Regulatory Oversight: NRB
  • User Segment: All licensed banks, card issuers, merchants, ATM network operators
  • Availability: 24/7 operation with high availability SLAs
  • Use Cases: ATM withdrawals, debit card POS transactions, P2P interbank transfers, merchant acquiring
  • Settlement Type: Batch settlement via NCHL/NRB
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2000s-2010s
  • Official URL: Contact NRB or payment providers
  • Technical Notes: SCT provides standardized message formats and security protocols for retail payments. Interconnects all major banks and payment networks. Critical infrastructure for ATM and POS payment ecosystem. Ongoing upgrades to ISO 20022 standards.
  • Evidence Note: SCT documented as Nepal's domestic payment switch
  • Sources: NRB Payment Systems; Nepal Banking Sector
B6. Visa Nepal
  • Aliases: Visa Inc. Nepal, Visa Payment Network
  • Category: international_card_network, debit_credit_cards
  • Description: Visa operates credit, debit, and prepaid card products in Nepal through licensed issuing banks and acquirers. Provides international payment capabilities, merchant acquiring, and ATM network access. Cards issued by Nepalese banks with Visa branding provide domestic and international acceptance.
  • Operator: Visa Inc. (global) with local member banks in Nepal
  • Operator Type: International card network operator
  • Regulatory Oversight: NRB (local operations); Visa global standards
  • User Segment: Card-issuing banks, merchants, cardholders
  • Availability: Widely available through banks
  • Use Cases: Debit/credit card payments, merchant acquiring, ATM withdrawals, online shopping, cross-border payments
  • Settlement Type: Bank-mediated settlement
  • Domestic/Cross-border: Both domestic and international
  • Status: Operational
  • Launch Year: 1990s-2000s (established in Nepal)
  • Official URL: https://www.visa.co.uk (regional); local bank partnerships
  • Technical Notes: EMV chip card standards implemented. Contactless payments supported. PCI-DSS compliance for merchants. Interconnects with SCT for ATM and POS.
  • Evidence Note: Visa documented as major international card network in Nepal
  • Sources: Visa Global; Nepal Banking Sector
B7. Mastercard Nepal
  • Aliases: Mastercard, MC Nepal
  • Category: international_card_network, debit_credit_cards
  • Description: Mastercard operates credit, debit, and prepaid card schemes in Nepal through licensed member banks and acquirers. Provides international payment processing, merchant acquiring, and clearing services.
  • Operator: Mastercard International (global) with local member banks
  • Operator Type: International card network operator
  • Regulatory Oversight: NRB
  • User Segment: Banks, merchants, cardholders
  • Availability: Widely available
  • Use Cases: Debit/credit card payments, POS transactions, online payments, ATM withdrawals, international payments
  • Settlement Type: Bank-mediated
  • Domestic/Cross-border: Both
  • Status: Operational
  • Launch Year: 1990s-2000s (Nepal operations)
  • Official URL: https://www.mastercard.com; local bank partnerships
  • Technical Notes: EMV implementation. Contactless capability. Multi-currency processing. Interconnects with SCT.
  • Evidence Note: Mastercard documented as major card network in Nepal
  • Sources: Mastercard Global; Nepal Banking
B8. UnionPay Nepal
  • Aliases: UnionPay, UP Card Nepal
  • Category: international_card_network, cross_border_payments
  • Description: UnionPay operates in Nepal primarily for cross-border capabilities and access to Asian payment networks. UnionPay cards provide connectivity to Chinese payment ecosystem and broader Asian ATM/POS networks.
  • Operator: China UnionPay (CUP) with local issuing banks
  • Operator Type: International card network (China-based)
  • Regulatory Oversight: NRB
  • User Segment: Local cardholders, cross-border travelers, businesses
  • Availability: Growing acceptance through banks
  • Use Cases: Cross-border payments, Asian market access, Chinese tourist payments, ATM withdrawals
  • Settlement Type: CUP global settlement
  • Domestic/Cross-border: Both (emphasis cross-border to China/Asia)
  • Status: Operational and growing
  • Launch Year: 2010s (Nepal expansion)
  • Official URL: https://www.unionpayintl.com; local banks
  • Technical Notes: Direct connection to Chinese payment ecosystem. Growing in Asia-Pacific region. Hopper among South Asian markets.
  • Evidence Note: UnionPay documented as growing card network option in Nepal
  • Sources: UnionPay International; Nepal Card Payment Trends
B9. eSewa (Digital Wallet - Dominant Mobile Money Platform)
  • Aliases: eSewa Nepal, eSewa Wallet
  • Category: digital_wallet, mobile_money, p2p_payments
  • Description: eSewa is Nepal's dominant digital wallet and mobile money platform. Offers P2P transfers, merchant payments, bill payments, mobile top-ups, and money remittance services via app and USSD (*4050#). Licensed e-money provider by NRB. Largest digital payment platform by user base and transaction volume in Nepal.
  • Operator: eSewa Pvt Ltd (Nepal-based fintech)
  • Operator Type: Digital wallet / E-money operator (licensed EMI)
  • Regulatory Oversight: Nepal Rastra Bank (e-money regulation)
  • User Segment: Mass market consumers, merchants, payment agents, mobile subscribers
  • Availability: Available nationwide via mobile app and USSD
  • Use Cases: P2P transfers, merchant payments, bill payments, mobile recharge, cross-border remittances, government payments
  • Settlement Type: Bank settlement via arrangement with licensed bank
  • Domestic/Cross-border: Both domestic and cross-border remittance
  • Status: Operational and dominant market position
  • Launch Year: 2010s (operational)
  • Official URL: https://www.esewa.com.np
  • Technical Notes: Licensed EMI under NRB regulation. USSD availability for feature phones. Integration with QR payments. Cash-in/out via merchant agents. Interconnects with SCT/connectIPS for bank transfers. Major platform for digital payment adoption in Nepal.
  • Evidence Note: eSewa documented as dominant digital wallet in Nepal
  • Sources: eSewa Official; NRB Licensed EMI List; Nepal Digital Payments Landscape
B10. Khalti (Digital Wallet & Payment Platform)
  • Aliases: Khalti Nepal, Khalti Wallet
  • Category: digital_wallet, mobile_money, p2p_payments
  • Description: Khalti is Nepal's second-largest digital wallet platform offering P2P transfers, merchant payments, bill payments, and money remittance services. Licensed e-money provider by NRB. Competes with eSewa for market share in digital payment space.
  • Operator: Khalti Digital Pvt Ltd (Nepal-based fintech)
  • Operator Type: Digital wallet / E-money operator (licensed EMI)
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Consumers, merchants, payment agents
  • Availability: Mobile app and USSD; merchant payment terminals
  • Use Cases: P2P transfers, merchant payments, bill payments, money remittance
  • Settlement Type: Bank settlement
  • Domestic/Cross-border: Both
  • Status: Operational
  • Launch Year: 2013+ (operational)
  • Official URL: https://www.khalti.com
  • Technical Notes: Licensed EMI. Merchant payment terminals (Khalti merchants). Integration with connectIPS for bank transfers. QR code payment capability. Competes actively with eSewa.
  • Evidence Note: Khalti documented as major digital wallet in Nepal
  • Sources: Khalti Official; NRB EMI License List; Nepal Fintech Landscape
B11. FonePay (Mobile-Based Payment Platform)
  • Aliases: FonePay Nepal, FonePay Mobile Money
  • Category: mobile_money, digital_wallet, p2p_payments
  • Description: FonePay is mobile-based payment platform providing P2P transfers, merchant payments, and financial services. Licensed digital financial service provider by NRB. Operates mobile-first payment platform with merchant integration.
  • Operator: F1Soft International Pvt Ltd (Nepal-based)
  • Operator Type: Digital payment platform operator
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Mobile users, merchants, consumers
  • Availability: Mobile app and network partner channels
  • Use Cases: Mobile payments, P2P transfers, merchant transactions, bill payments
  • Settlement Type: Bank settlement
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2010s
  • Official URL: https://www.fonepay.com
  • Technical Notes: Licensed digital financial service provider. Mobile-first platform. Merchant acquiring capability. Partnership with payment infrastructure.
  • Evidence Note: FonePay documented as Nepal payment platform
  • Sources: FonePay Official; NRB Payment Providers
B12. IME Pay (Informal Money Exchange Digital Payment)
  • Aliases: IME Digital Payment, IME Pay Platform
  • Category: digital_wallet, payment_platform, remittance_related
  • Description: IME Pay is digital payment platform operated by IME (Informal Money Exchange), Nepal's dominant remittance player. Provides digital payment services, wallet functionality, and payment infrastructure for IME remittance network.
  • Operator: Informal Money Exchange (IME) Limited
  • Operator Type: Remittance operator with digital payment division
  • Regulatory Oversight: NRB (as payment service provider)
  • User Segment: Remittance customers, digital payment users, merchants
  • Availability: Mobile app and IME network
  • Use Cases: Digital payments, remittance-linked transfers, P2P payments, merchant transactions
  • Settlement Type: Settlement through IME banking partnerships
  • Domestic/Cross-border: Both (emphasis on remittance flows)
  • Status: Operational
  • Launch Year: 2010s-2020s (digital division)
  • Official URL: https://www.imepay.com.np
  • Technical Notes: Leverages IME's extensive remittance network. Digital payment platform integrated with remittance infrastructure. Bank partnerships for settlement.
  • Evidence Note: IME Pay documented as IME's digital payment offering
  • Sources: IME Official; Nepal Remittance Infrastructure
B13. CellPay (Mobile Operator Digital Payment)
  • Aliases: CellPay Nepal, CellPay Mobile Money
  • Category: mobile_money, telecom_fintech
  • Description: CellPay is mobile money platform operated by telecom provider. Provides P2P payments, merchant payments, and bill payment services leveraging mobile subscriber base.
  • Operator: Telecom provider (Nepal) - CellPay division
  • Operator Type: Telecom-operated digital wallet
  • Regulatory Oversight: NRB
  • User Segment: Mobile subscribers, consumers
  • Availability: USSD and mobile app
  • Use Cases: Mobile payments, bill payments, P2P transfers, mobile services
  • Settlement Type: Bank settlement
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2010s-2020s
  • Official URL: Contact telecom provider
  • Technical Notes: USSD-based service for reach. Mobile subscriber integration. Settlement via bank partnerships.
  • Evidence Note: CellPay documented as telecom-based payment service in Nepal
  • Sources: Nepal Telecom Services
B14. PrabhuPay (Prabhu Bank Digital Payment Platform)
  • Aliases: PrabhuPay, Prabhu Bank Pay
  • Category: bank_digital_wallet, mobile_payments
  • Description: PrabhuPay is Prabhu Bank's digital payment and mobile wallet platform. Offers P2P transfers, merchant payments, and banking services through digital interface.
  • Operator: Prabhu Bank Limited
  • Operator Type: Bank-operated digital wallet
  • Regulatory Oversight: NRB
  • User Segment: Prabhu Bank customers, consumers
  • Availability: Mobile app
  • Use Cases: Mobile payments, P2P transfers, merchant payments, banking services
  • Settlement Type: Prabhu Bank account-based
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2020s
  • Official URL: Contact Prabhu Bank
  • Technical Notes: Bank-branded digital wallet. Integration with Prabhu Bank services. Mobile-first experience.
  • Evidence Note: PrabhuPay documented as Prabhu Bank's digital payment platform
  • Sources: Prabhu Bank Official; Nepal Banking
B15. Namaste Pay (Payment Platform/Digital Wallet)
  • Aliases: Namaste Pay, Namaste Payment Platform
  • Category: digital_wallet, payment_platform, p2p_payments
  • Description: Namaste Pay is digital payment platform and wallet service offering P2P payments, merchant transactions, and bill payments.
  • Operator: Namaste Digital / Payment operator (Nepal-based)
  • Operator Type: Digital payment platform
  • Regulatory Oversight: NRB
  • User Segment: Consumers, merchants
  • Availability: Mobile app and web
  • Use Cases: P2P transfers, merchant payments, bill payments
  • Settlement Type: Bank settlement
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2010s-2020s
  • Official URL: Contact payment provider
  • Technical Notes: Digital-first payment platform. Integration with banking infrastructure.
  • Evidence Note: Namaste Pay documented as Nepal payment platform
  • Sources: Nepal Fintech Directory
B16. QPay (Quantum Payments - Payment Platform)
  • Aliases: QPay Nepal, Quantum Payments
  • Category: payment_platform, merchant_acquiring
  • Description: QPay is payment platform and merchant acquiring service provider. Offers online payment gateway, merchant acquiring, and settlement services for businesses and merchants.
  • Operator: Quantum Payments / Payment service provider (Nepal)
  • Operator Type: Payment gateway and acquiring operator
  • Regulatory Oversight: NRB
  • User Segment: Merchants, online businesses
  • Availability: API integration and merchant dashboard
  • Use Cases: Online payment processing, merchant acquiring, business payments
  • Settlement Type: Bank settlement
  • Domestic/Cross-border: Both
  • Status: Operational
  • Launch Year: 2010s-2020s
  • Official URL: Contact payment provider
  • Technical Notes: Payment gateway platform. Merchant acquiring services. Multi-payment method support.
  • Evidence Note: QPay documented as Nepal payment platform
  • Sources: Nepal Fintech Services
B17. Global IME Bank (Commercial Bank - Payment Services)
  • Aliases: Global IME, GIMB, Global IME Payment Services
  • Category: bank_payments, domestic_transfers
  • Description: Global IME Bank is Nepal's largest commercial bank by asset size. Provides comprehensive payment services including domestic transfers, bill payments, merchant acquiring, and digital banking. Operates digital wallet and online payment platform.
  • Operator: Global IME Bank Limited
  • Operator Type: Commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Customers, merchants, businesses, depositors
  • Availability: Branches, digital banking, ATMs, merchants
  • Use Cases: Domestic transfers, bill payments, merchant acquiring, business banking, salary payments
  • Settlement Type: NRB clearing house system
  • Domestic/Cross-border: Primarily domestic; limited international
  • Status: Operational
  • Launch Year: 2003 (bank establishment)
  • Official URL: https://www.globalimebank.com
  • Technical Notes: Largest bank by assets. Extensive branch and ATM network. Digital banking platform. Merchant acquiring services. CIMB/connectIPS participant.
  • Evidence Note: Global IME Bank documented as largest commercial bank in Nepal
  • Sources: Global IME Bank Official; NRB Banking Directory
B18. NIC Asia Bank (Commercial Bank - Payment Services)
  • Aliases: NIC Asia, NICB, NIC Payment Services
  • Category: bank_payments, domestic_transfers
  • Description: NIC Asia Bank is major commercial bank in Nepal providing domestic payment services, bill payments, merchant acquiring, and digital banking. Operates digital payment platform and offers comprehensive banking services.
  • Operator: NIC Asia Bank Limited
  • Operator Type: Commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Individual customers, businesses, merchants
  • Availability: Branches, digital banking, ATMs
  • Use Cases: Domestic transfers, bill payments, merchant acquiring, business payments
  • Settlement Type: NRB system
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 1998 (bank establishment)
  • Official URL: https://www.nicasiabank.com
  • Technical Notes: Major commercial bank. Digital banking platform. Merchant services. Payment infrastructure participant.
  • Evidence Note: NIC Asia Bank documented as major Nepalese bank
  • Sources: NIC Asia Bank Official; NRB Banking Sector
B19. Nabil Bank (Commercial Bank - Payment Services)
  • Aliases: Nabil, Nabil Bank Limited, Nabil Payment Services
  • Category: bank_payments, domestic_transfers
  • Description: Nabil Bank is Nepal's oldest commercial bank with comprehensive payment services. Offers domestic transfers, bill payments, merchant acquiring, and digital banking services. Extensive branch and payment terminal network.
  • Operator: Nabil Bank Limited
  • Operator Type: Commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Individual customers, businesses, merchants
  • Availability: Extensive branch network, digital banking, ATMs, POS terminals
  • Use Cases: Domestic transfers, bill payments, merchant acquiring, payroll services
  • Settlement Type: NRB clearing infrastructure
  • Domestic/Cross-border: Primarily domestic
  • Status: Operational
  • Launch Year: 1984 (bank establishment)
  • Official URL: https://www.nabilbank.com
  • Technical Notes: Oldest commercial bank in Nepal. Extensive infrastructure. Strong payment system participation. Digital banking platform.
  • Evidence Note: Nabil Bank documented as first and oldest commercial bank in Nepal
  • Sources: Nabil Bank Official; NRB Banking Authority
B20. Nepal Bank Limited (Government Commercial Bank - Payment Services)
  • Aliases: Nepal Bank, NBL, Nepal Bank Payment Services
  • Category: government_bank, bank_payments
  • Description: Nepal Bank Limited is oldest bank in Nepal (established 1937) and major state-owned commercial bank. Provides domestic payment services, bill payments, and banking services. Government-backed institution with nationwide branch network.
  • Operator: Nepal Bank Limited
  • Operator Type: State-owned commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Mass market customers, government offices, businesses
  • Availability: Extensive branch network
  • Use Cases: Domestic transfers, bill payments, government service payments, payroll
  • Settlement Type: NRB infrastructure
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 1937 (establishment)
  • Official URL: https://www.nepalbank.com.np
  • Technical Notes: Oldest bank in Nepal (over 85 years). Government-owned. Extensive branch coverage including rural areas. Payment system participation.
  • Evidence Note: Nepal Bank documented as oldest and state-owned bank
  • Sources: Nepal Bank Official; NRB Banking Directory
B21. Rastriya Banijya Bank (Government Bank - Payment Services)
  • Aliases: RBB, Rastriya Banijya Bank, RBB Payment Services
  • Category: government_bank, bank_payments
  • Description: Rastriya Banijya Bank is state-owned commercial bank and second-largest government bank in Nepal. Provides domestic payment services, bill payments, and banking to mass market. Nationwide branch network.
  • Operator: Rastriya Banijya Bank Limited
  • Operator Type: State-owned commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Mass market customers, businesses
  • Availability: Extensive branch network nationwide
  • Use Cases: Domestic transfers, bill payments, government payments, business banking
  • Settlement Type: NRB system
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 1966 (establishment)
  • Official URL: https://www.rbb.com.np
  • Technical Notes: State-owned institution. Large branch network. Government-backed services. Payment system participant.
  • Evidence Note: RBB documented as major state-owned bank in Nepal
  • Sources: RBB Official; NRB Banking Sector
B22. Mega Bank (Commercial Bank - Payment Services)
  • Aliases: Mega Bank Limited, MEGB, Mega Payment Services
  • Category: bank_payments, domestic_transfers
  • Description: Mega Bank is commercial bank providing domestic payment services, bill payments, and banking services. Operates digital banking platform and merchant acquiring services.
  • Operator: Mega Bank Limited
  • Operator Type: Private commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Individual and corporate customers, merchants
  • Availability: Branches and digital banking
  • Use Cases: Domestic transfers, bill payments, merchant services, business banking
  • Settlement Type: NRB infrastructure
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2002+ (commercial operations)
  • Official URL: https://www.megabank.com.np
  • Technical Notes: Commercial bank with digital services. Payment system participation. Merchant acquiring capability.
  • Evidence Note: Mega Bank documented as commercial bank in Nepal
  • Sources: Mega Bank Official; NRB Banking Directory
B23. Machhapuchchhre Bank (Commercial Bank - Payment Services)
  • Aliases: Machhapuchchhre Bank, Machhapuchchhre, MBL Payment Services
  • Category: bank_payments, domestic_transfers
  • Description: Machhapuchchhre Bank is commercial bank with payment and banking services. Offers domestic transfers, bill payments, and digital banking.
  • Operator: Machhapuchchhre Bank Limited
  • Operator Type: Private commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Customers, businesses
  • Availability: Branches and digital banking
  • Use Cases: Domestic transfers, bill payments, business payments
  • Settlement Type: NRB system
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 2000s (establishment)
  • Official URL: https://www.machhapuchchhrebank.com
  • Technical Notes: Commercial bank operations. Payment infrastructure participant.
  • Evidence Note: Machhapuchchhre Bank documented as commercial bank
  • Sources: Machhapuchchhre Bank Official; NRB Banking
B24. Laxmi Sunrise Bank (Commercial Bank - Payment Services)
  • Aliases: Laxmi Sunrise Bank, LSB, Payment Services
  • Category: bank_payments, domestic_transfers
  • Description: Laxmi Sunrise Bank is commercial bank providing domestic payment services, bill payments, and banking infrastructure.
  • Operator: Laxmi Sunrise Bank Limited
  • Operator Type: Private commercial bank
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Individual customers, businesses
  • Availability: Branches and digital banking
  • Use Cases: Domestic transfers, bill payments, business banking
  • Settlement Type: NRB infrastructure
  • Domestic/Cross-border: Domestic
  • Status: Operational
  • Launch Year: 1990s-2000s
  • Official URL: Contact bank
  • Technical Notes: Commercial bank operations. NRB clearing participant.
  • Evidence Note: Laxmi Sunrise Bank documented as commercial bank in Nepal
  • Sources: NRB Banking Directory
B25. Western Union Nepal
  • Aliases: Western Union Money Transfer, WU Nepal
  • Category: remittance_service, international_money_transfer
  • Description: Western Union operates international money transfer and remittance services in Nepal. Enables inbound remittances from abroad (especially Middle East and Asia) and outbound transfers to international destinations. Extensive agent network through banks, pharmacies, money changers.
  • Operator: Western Union Company (USA-based global provider)
  • Operator Type: International remittance service provider
  • Regulatory Oversight: Nepal Rastra Bank (foreign exchange regulation)
  • User Segment: Diaspora, remittance senders/receivers, international customers
  • Availability: Extensive agent network nationwide
  • Use Cases: International remittances, cross-border money transfers, family support payments
  • Settlement Type: Foreign exchange settlement via correspondent banking
  • Domestic/Cross-border: Cross-border (remittances)
  • Status: Operational
  • Launch Year: Long-established (global service)
  • Official URL: https://www.westernunion.com
  • Technical Notes: Extensive agent network (banks, money changers, retailers). Fast settlement. FX conversion included. NRB compliance.
  • Evidence Note: Western Union documented as major remittance provider in Nepal
  • Sources: Western Union Global; Nepal Remittance Services
B26. MoneyGram Nepal
  • Aliases: MoneyGram Money Transfer, MG Nepal
  • Category: remittance_service, international_money_transfer
  • Description: MoneyGram provides international money transfer and remittance services in Nepal. Enables receipt and sending of international remittances. Agent-based distribution network.
  • Operator: MoneyGram International (USA-based global provider)
  • Operator Type: International remittance service provider
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Remittance senders/receivers, diaspora
  • Availability: Agent network in major cities and towns
  • Use Cases: International remittances, cross-border money transfers
  • Settlement Type: FX settlement via banking partners
  • Domestic/Cross-border: Cross-border
  • Status: Operational
  • Launch Year: 2000s+ (Nepal operations)
  • Official URL: https://www.moneygram.com
  • Technical Notes: Global remittance network. Agent-based service. Competitive FX rates. Regulatory compliance.
  • Evidence Note: MoneyGram documented as remittance service provider in Nepal
  • Sources: MoneyGram Global; Nepal Remittance Markets
B27. IME (Informal Money Exchange) - Dominant Remittance Provider
  • Aliases: IME Ltd, Informal Money Exchange, IME Remittance
  • Category: remittance_service, money_transfer, informal_finance
  • Description: IME (Informal Money Exchange) Limited is Nepal's largest and most dominant remittance service provider. Operates extensive agent network across Nepal and abroad for international remittances. Primary channel for diaspora remittances from Middle East, Southeast Asia, and abroad. Also provides digital payment services through IME Pay platform.
  • Operator: Informal Money Exchange Limited (Nepal-based)
  • Operator Type: Remittance service provider (major domestic player)
  • Regulatory Oversight: Nepal Rastra Bank (remittance regulation)
  • User Segment: Diaspora, remittance receivers, senders
  • Availability: Extensive agent network nationwide and internationally
  • Use Cases: International remittances, cross-border money transfers, family support
  • Settlement Type: Banking partnerships and FX settlement
  • Domestic/Cross-border: Primarily cross-border (remittances)
  • Status: Operational and dominant market position
  • Launch Year: 1990s-2000s (commercial operations)
  • Official URL: https://www.imepay.com.np
  • Technical Notes: Largest domestic remittance provider in Nepal. Extensive agent network (shops, pharmacies, money changers). Quick settlement. Digital platform integration (IME Pay). Major channel for Middle East diaspora remittances.
  • Evidence Note: IME documented as dominant remittance provider in Nepal
  • Sources: IME Official; Nepal Remittance Infrastructure; IME Market Analysis
B28. Prabhu Money Transfer (Remittance Service)
  • Aliases: Prabhu Remittance, Prabhu Money Services
  • Category: remittance_service, money_transfer
  • Description: Prabhu Money Transfer is major remittance service provider in Nepal. Operates agent network for international remittance services. Significant player in remittance market competing with IME.
  • Operator: Prabhu Money Transfer / remittance service provider
  • Operator Type: Remittance service provider
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Remittance senders/receivers
  • Availability: Agent network in major cities/towns
  • Use Cases: International remittances, cross-border money transfers
  • Settlement Type: Banking settlement
  • Domestic/Cross-border: Cross-border remittances
  • Status: Operational
  • Launch Year: 2000s+
  • Official URL: Contact remittance provider
  • Technical Notes: Major remittance player. Agent-based distribution. Competitive market positioning vs. IME.
  • Evidence Note: Prabhu Money Transfer documented as major remittance provider
  • Sources: Nepal Remittance Market Analysis
B29. Himal Remit (Remittance Service Provider)
  • Aliases: Himal Remittance, Himal Money Services
  • Category: remittance_service, money_transfer
  • Description: Himal Remit is remittance service provider offering international money transfer services in Nepal. Agent-based service for remittance distribution.
  • Operator: Himal Remit Limited
  • Operator Type: Remittance service provider
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Remittance receivers and senders
  • Availability: Agent network
  • Use Cases: International remittances, money transfers
  • Settlement Type: Banking settlement
  • Domestic/Cross-border: Cross-border
  • Status: Operational
  • Launch Year: 2000s+
  • Official URL: Contact provider
  • Technical Notes: Remittance service provider operating in Nepal. Agent network distribution.
  • Evidence Note: Himal Remit documented as remittance provider
  • Sources: Nepal Remittance Services
B30. City Express (Remittance Service Provider)
  • Aliases: City Express Remittance, City Express Money Transfer
  • Category: remittance_service, money_transfer
  • Description: City Express is remittance service provider offering international money transfer services in Nepal. Operates agent network for remittance distribution.
  • Operator: City Express Limited
  • Operator Type: Remittance service provider
  • Regulatory Oversight: Nepal Rastra Bank
  • User Segment: Remittance senders/receivers
  • Availability: Agent network in major areas
  • Use Cases: International remittances
  • Settlement Type: Banking settlement
  • Domestic/Cross-border: Cross-border
  • Status: Operational
  • Launch Year: 2000s+
  • Official URL: Contact provider
  • Technical Notes: Remittance service provider in Nepal market.
  • Evidence Note: City Express documented as remittance provider
  • Sources: Nepal Remittance Market
B31. SWIFT (Society for Worldwide Interbank Financial Telecommunication)
  • Aliases: SWIFT Network, SWIFT Messaging, SWIFT-GPI
  • Category: international_banking, interbank_settlement, cross_border_payments
  • Description: SWIFT is global interbank messaging and settlement infrastructure enabling international financial transactions. All major Nepalese commercial banks are SWIFT members, enabling international payments, FX settlement, and correspondent banking relationships. SWIFT-GPI (Global Payments Innovation) enables faster cross-border transfers.
  • Operator: SWIFT SCRL (Belgium-based international cooperative)
  • Operator Type: Global interbank payment infrastructure
  • Regulatory Oversight: Nepal Rastra Bank (Nepalese banks); SWIFT global governance
  • User Segment: Licensed banks, financial institutions, large corporations
  • Availability: All major Nepalese banks
  • Use Cases: International payments, FX settlement, correspondent banking, trade finance
  • Settlement Type: Correspondent banking settlement via SWIFT messaging
  • Domestic/Cross-border: Cross-border (international)
  • Status: Operational
  • Launch Year: 1973 (global); 1980s+ (Nepal participation)
  • Official URL: https://www.swift.com
  • Technical Notes: Standardized messaging format (MT and ISO 20022). Critical for international banking. All major Nepalese banks participate. SWIFT-GPI improving settlement speeds.
  • Evidence Note: SWIFT documented as international banking standard
  • Sources: SWIFT Official; Nepal Banking International Services
B32. Nepal Post (Government Postal Service & Money Transfer)
  • Aliases: Post Office, Nepal Post Money Order, Postal Money Transfer
  • Category: government_postal_service, remittance_service, money_transfer
  • Description: Nepal Post operates government postal service with money order and remittance capabilities. Provides traditional postal money transfer infrastructure for rural areas and communities with limited banking access. Long-standing government service.
  • Operator: Nepal Post Limited (Government postal authority)
  • Operator Type: Government postal and financial service
  • Regulatory Oversight: Ministry of Communications; Nepal Rastra Bank oversight for financial services
  • User Segment: General population, rural communities, traditional remittance users
  • Availability: Post office network nationwide
  • Use Cases: Domestic money orders, postal remittances, government services, rural money transfer
  • Settlement Type: Postal money order infrastructure
  • Domestic/Cross-border: Primarily domestic; limited cross-border
  • Status: Operational
  • Launch Year: Historical (postal service 1860s+; modern money services modern era)
  • Official URL: https://www.nepalpost.gov.np
  • Technical Notes: Extensive post office network in rural areas. Government-backed. Traditional remittance service. Integrated with postal system.
  • Evidence Note: Nepal Post documented as government postal and remittance service
  • Sources: Nepal Post Official; Nepal Remittance Infrastructure

C. Gaps / Unknowns

1. Detailed Technical Specifications: Full technical specifications for RTGS, connectIPS, and SCT infrastructure not completely documented

2. Government G2P Systems: Specific government payment systems for salary and benefit distribution not identified

3. B2B Payment Infrastructure: Business-to-business payment platforms and corporate payment networks not comprehensive

4. Blockchain/Cryptocurrency: Regulatory status of cryptocurrency payments and any permitted digital currency infrastructure not documented

5. Emerging Fintech Providers: Smaller fintech startups and specialized payment service providers may exist beyond major documented platforms

6. Detailed Merchant Acquiring: Sub-acquiring bank relationships and merchant payment terminal networks not fully mapped

7. KYC/AML Requirements: Specific compliance requirements for each payment service type not comprehensive

8. Cross-border Remittance Corridors: Bilateral remittance relationships with specific origin countries not detailed

9. Real-Time System Status: Current operational status and uptime metrics for payment systems not independently verified

10. Regulatory Compliance Details: Full regulatory framework details and licensing requirements not exhaustively documented

D. Audit Notes

  • Strong Central Payment Infrastructure: Nepal has mature RTGS (NRB RTGS) and clearing house (NCHL/connectIPS) infrastructure providing core payment backbone
  • Rapid Digital Wallet Growth: eSewa dominance with strong competition from Khalti indicating rapid digital payment adoption
  • Remittance-Centric Economy: Large diaspora remittances drive significant portion of payment infrastructure focus (IME dominance, multiple remittance providers)
  • Banking Sector Diversity: Mix of state-owned (Nepal Bank, RBB) and private commercial banks (Global IME, NIC Asia, Nabil, etc.) providing payment services
  • Card Network Integration: International card networks (Visa, Mastercard, UnionPay) integrated with domestic SCT switch for interoperable payments
  • Mobile Money Growth: Mobile operator-based and independent digital wallets reaching mass market including unbanked populations
  • Emerging Fintech Ecosystem: Payment gateways, wallet platforms, and specialized payment providers creating competitive fintech landscape
  • Regulatory Evolution: NRB developing modern regulatory framework for digital financial services (EMI licensing, e-money regulation)
  • Cash Economy Persistence: Large cash usage in rural areas and informal economy despite digital payment growth
  • Regional Integration: SWIFT participation and regional payment cooperation (SAARC) enabling international financial connectivity

Last updated: 07/Apr/2026