Kathmandu. Nepal Rastra Bank (NRB) has revoked the licenses of PayWell Nepal and Sahaj Pay Payment.
According to the central bank, the permission given to operate as a payment service provider has been revoked.
Paywell Nepal Pvt Ltd was allowed to pay on September 27, 2018 and Sahaj Pay Payment on April 15, 2018.
The licenses of these payment service providers have been revoked as they were found violating various provisions of the Fraud and Settlement Act, Payment and Settlement Bye-laws, Unified Directives on Payment System and Prevention of Money Laundering Act.
As per the decision of the Board of Directors of Nepal Rastra Bank (NRB) on Thursday, the licenses of these payment service providers have been canceled and informed in general.
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