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Tuesday, September 28, 2021
    Tech and AutoFintechNamaste Pay - NTC's Platform to go commercial from today

    Namaste Pay – NTC’s Digital Payment Platform to go commercial from today

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    Nepal Telecom (NT) is preparing to launch its service Namaste Pay in the business starting today.

    NT had previously conducted successful first testing of the service among its own staff members. One of the most advantageous aspects of the mobile money service is the ability to conduct offline transfers, that is, payments, without the need for a computer or the internet.

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    Founded by Nepal Telecom and Rastriya Banijya Bank (RBB) with an authorised capital of Rs 1 billion, Namaste Pay is a mobile money service that accepts payments over mobile phones. Because of its government-run nature, this software has grown to become the mobile wallet with the greatest paid-up capital, amounting to over Rs 400 million.

    Namaste Pay is only the world’s first government-run payment service provider (PSP), but it is also the world’s first offline mobile wallet, having launched in 2012. It means that the user does not to be connected to the internet in order to make digital payments.

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    Users could only conduct transactions using online systems up until recently, according to the company. It necessitated the use of smartphones as well as an internet connection. Namaste Pay enables NT users with feature phones to conduct offline transactions at any time and from any location with the help of their phones.

    The payment method will employ the cellphone number as a digital wallet, and the mobile number will be required. Because of the restrictions imposed by the regulations, it will be possible to utilise mobile balance funds to pay bills such as energy bills, water bills, and so on for the time being.

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