Specially, Online/Digital workers in Nepal were facing so many problems regarding the international payment .But Now there's a good news for them . Finally, Nepal Rastra Bank has allowed the International Payment in Nepal .
Nepalese users can now pay for Netflix ,Amazon ,Online ads , Facebook Post Boost and many more in their own.Now Nepalese users credit/debit card holder can purchase goods and services totaling no more than 2000$ a year.
Problems regarding International Payment before
As Nepal Rastra Bank /Government of Nepal hadn't allowed the international payment it was very difficult for the people to purchase any kind of goods and services in Nepal. The online workers in Nepal were also facing difficulties receiving their payments. The people were using PayPal , Payoneer and other international wallets/account of their relatives or friends residing abroad for purchasing goods and services.
Nepal Rastra Bank (NRB) has identified and defined such kinds of activities as Digital Hundi . These types of activities has been causing Nepalese wealth to leave the country without it being traced by the government. Apart from the wealth leaving the country it also hides the revenue or tax that the government deserves.
However the rising presence of digital marketing , online jobs in Nepal also made the NRB to give access of international payment . So, NRB finally lays a solid foundation for an international payment system in Nepal introducing new provisions.
Solution regarding International Payment in Nepal
NRB has introduced new provisions for international payments in Nepal. They have approved the concept of Prepaid Dollar Card. With these Decision of the Nepal's Central Bank the Nepalese Banks can now issue Prepaid Cards for international payment .
There are some things to keep in Mind before applying for Prepaid cards:
1) Payments can be done only for the purchase of goods and services that are allowed by Nepalese Laws.
2)KYC verfication is must.
3) The users are allowed to deposit a maximum of $500 for international payment.
4)Each users can make only one card from only one bank . Making and using multiple cards is a punishable act.
5)The existing fund in the individuals bank account can be used for converting foreign currency for the payment purpose.
6)If any cardholder is generating foreign income of at least the double the card amount i.e $500 , additional funds may can be deposited to the card by NRB.
This will be considered as a reward to the cardholder by NRB for generating international income for the country.
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