What is a 'National Payment Gateway'? When it start?

What is National Payment Gateway? What is a national payment Gateway? Payment Gateway is an important infrastructure for online payments. A...

What is National Payment Gateway?

What is a national payment Gateway? Payment Gateway is an important infrastructure for online payments. At present, various online e-commerce sites are doing business in the market. Banks are working in different ways and online payment service providers are working in coordination with different agencies.

Nepal payment gateway
National Payment Geteway

The concept of National Payment Gateway has been brought to bring it in one place and make the payments related to the government easy, simple and reliable so that it does not have to depend on many agencies.

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Since there is no payment gateway, there are switches from bank to bank for payment. Necessary preparations are underway to make the payment gateway operational as per the plan to bring the National Payment Gateway into operation under the National Information Technology Center.

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Due to the lack of payment gateways, the inconvenience of electronic payment inside and outside the country has been removed. With the government launching an integrated ‘National Payment Gateway’ from next August, such problems are likely to go away.

The National Information Technology Center has stated that the scattered private wallet and card transactions and international payment areas will be included in the same payment gateway along with the payments made by the government and the payments made by the government.

According to Sunil Poudel, executive director of the center, the infrastructure has been prepared in line with the international standards required to bring the payment gateway into operation.

Expenditure by the government, social security for the people and payments to the private sector will now be brought under one-stop system.

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The National Payment Gateway is a long awaited issue for government and non-government bodies, industrialists, traders, importers-exporters and consumers.

“If the system being developed by the Auditor General’s Office comes into operation from August, it will be integrated and the National Payment Gateway will come into operation immediately,”.

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He said that the payment gateway would be operational within a month of being brought into operation by the Accountant General.

This will save the time of the consumer as well as get rid of the hassle as the information of real time payment and actual income and expenditure can be found immediately.

Stating that additional security should be guaranteed in this regard as it is related to money, he said that the National Information Technology Center is vigilant in this regard.

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With the current system, 1000 transactions can be done in 1 second. Later, a system has been prepared which can be extended as per the need.

Nepal Rastra Bank has agreed to provide necessary settlement bank for the payment gateway to the National Information Technology Center and a Memorandum of Understanding (MoU) has also been signed with Rastriya Banijya Bank.

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Poudel adds, “Initially, we start with the payment taken by the government.” After that, there are plans to gradually cover government payments, private wallet and card transactions, and international payments. ’

Poudel also informed that the National Payment Gateway will integrate card, wallet, e-commerce, e-check, credit transfer, debit transfer, bill payment and other transactions in an integrated manner.

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The National Payment Gateway will include mobile service providers, commercial banks and government agencies. In this, NRB will monitor and supervise and National Information Center will look after the technical aspects including privacy and security.

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Once this gateway comes into operation, the general public will not have to bear the physical hassle. The compulsion to go to the banks and wait in line to pay is also expected to end.

Chairman of the Technology Journalists Forum Bishwas Regmi said that the forum has been organizing various programs for the last six years to enhance the capacity of media personnel.

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Kamal Dhital’s Blog: Learning and Sharing for a Brighter Tomorrow.: What is a 'National Payment Gateway'? When it start?
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