National ID Card Made Mandatory for E-Wallet Usage in Nepal

The Nepal Rastra Bank has mandated the use of the National Identity Card (NIC) for electronic wallet users. Payment service providers are required to update users’ NIC details by the end of Ashoj 2078 (mid-October 2021). Special provisions have been established for Nepali citizens living abroad and persons with disabilities.

July 24, Kathmandu – The Nepal Rastra Bank has directed payment service providers to make the submission of NIC details electronically compulsory for Nepali citizens opening e-wallets. Providers must introduce systems to verify and update the NIC information of wallet users via mobile applications or other suitable means by the deadline of Ashoj 2078.

Furthermore, the central bank has instructed service providers to update the NIC numbers of customers who already possess a national identity card through mobile apps or other appropriate platforms by the same deadline. For Nepali citizens without an NIC, providers must ensure that users are informed monthly via mobile or other appropriate methods to obtain the card and update their customer identification.

For Nepali nationals residing abroad, the central bank allows opening electronic wallets using required documents other than the NIC. However, wallet users must submit and update their NIC information with the authorized institution within 35 days of returning to Nepal. Additionally, persons unable to care for themselves, including disabled and helpless individuals, may open and operate wallets by attaching necessary documents along with their NIC or NIC number, as per regulations set by Nepal Rastra Bank.