Opinion | Digital diplomacy
Summary
Nepal's digital payment market is growing rapidly with significant potential for cross-border transactions and economic inclusion, supported by emerging networks and partnerships.
Key Points
- Nepal's digital payment market is expanding with key players like eSewa, IME Pay, Khalti, and Fonepay.
- Cross-border digital payment systems, similar to India's UPI and Thailand's PromptPay, offer opportunities for Nepal to enhance remittances and tourism transactions.
- Efforts like the George Town Accord among ASEAN countries aim to establish global standard payment systems to facilitate smoother cross-border transactions.
- Challenges include digital literacy gaps, payment scams, infrastructure, and data privacy, which need addressing for sustainable growth.
