Nepal Rastra Bank Introduces National ID Requirements for Digital Wallet Accounts
Summary
Nepal Rastra Bank has introduced new rules requiring digital wallet providers to verify users against National Identity Card records and update National Identity Numbers by the end of Ashwin 2083. Special provisions allow Nepali citizens abroad, as well as persons with disabilities and helpless citizens, to open and operate wallets with alternative documents.
Key Points
- Licensed payment service providers must verify wallet users against National Identity Card electronic records before opening accounts.
- Existing wallet users with a National Identity Card must have their National Identity Number updated by the end of Ashwin 2083.
- Users without a National Identity Card must update their details after obtaining one, and providers must notify them monthly.
- Nepali citizens abroad and some vulnerable groups may use alternative documents under special provisions.
