Kathmandu, April 26, 2019: Licence has been granted to Khalti a “payment service provider” under the Nepal Rastra Bank’s Payment and Settlement Bylaw for Wallet Services through telecommunication technology and the internet.
The company mentioned in the press statement that along with digital payment services, Khalti can now provide domestic money transfer facility and mobile financial services in Nepal.
Group of young entrepreneurs had launched Khalti on January 26, 2017. After getting the license, the team is encouraged to take financial services to the next level, the company said. “It will work to bring offline services to online and make the lives of people easier,” said Manish Modi, managing director of Khalti.
The company aims to expand digital payment services in rural and remote parts of Nepal and add different verticals to our platform. “We will work to make online payments possible in every corner of the nation to achieve the vision of Digital Nepal. We will work to bring access to finance to the underprivileged population of Nepal and simplify their lives,” said Modi. As per Nepal Telecommunication Authority latest report, the country has over 132 percent mobile telephony penetration and 59 percent broadband internet penetration.