Nepal Rastra Bank Amends Payment System Directive to Include National ID

Kathmandu. Nepal Rastra Bank has made the 15th amendment to the Integrated Payment System Directive, 2082, by including provisions for opening 'wallets' and updating user details by payment service providers, incorporating the National Identity Card system. According to the circular issued by the Payment Systems Department on Friday, as per the amended provision, payment service provider licensed institutions must now verify wallet opening for Nepali citizens based on the details from the electronic record of the National Identity Card. Similarly, by the end of Ashwin, 2083, licensed institutions must obtain self-declaration from wallet users through mobile applications or other suitable means regarding whether they have National Identity Card details or not. According to the directive, Nepali citizens who have obtained the National Identity Card must update their National Identity Card number in their wallet by the end of Ashwin, 2083. For users who have not obtained the National Identity Card, arrangements must be made to inform them every month to update their details after obtaining the card. The provision for Nepali citizens residing abroad to open electronic wallets online from abroad based on necessary documents remains the same. The central bank stated that such users must update their National Identity Card details with the concerned institution within six months of returning to Nepal. Likewise, for incapacitated and helpless citizens who cannot take care of themselves, the amended directive has made arrangements to open wallets and conduct transactions based on documents other than the National Identity Card or National Identity Card number.