Kathmandu. The Payment Systems Department of Nepal Rastra Bank has stated that it has not renewed the payment service provider license (license) given to Nepal Pay Time Pvt. Ltd.
The Rastra Bank has stated that the license has not been renewed due to the fact that the service provided by the said company has been discontinued for a long time, the wallet app used for service delivery is not available in the Play Store and App Store, the institutional governance of the organization is weak, and the work has not been carried out as per the commitment to implement the instructions given by the Rastra Bank.
In view of these facts, the Rastra Bank has stated that it has not renewed the license in accordance with Section 13940 of the Payment and Settlement Act, 2075 BS.
Payment issued by Nepal Pay Time If customers using the devices have any pending transactions with the institution, the Rastra Bank has called on them to contact the concerned institution within 30 days from the date of publication of this notice.
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