PayPal in Nepal-Welcome by NRB
Nepal Rastra Bank (NRB) is preparing to welcome PayPal in Nepal. NRB has been putting efforts to register the PayPal services in Nepal.
There are news in mainstream media that Nepal Rastra Bank is giving the efforts along with other Payment Service Provider like Esewa and Khalti to ease the PayPal to do businesses in Nepal. The main reason is that PayPal is the stronger and widely used online payments services in the world.
What is PayPal?
PayPal is the online payment platform facilitating the digital transaction across the different countries. Found in 1998, headquartered in USA, have presence in over 200 countries/regions and support 25 different currencies.
How PayPal works in Nepal?
PayPal enable users to link their bank accounts with PayPal accounts. Suppose I have bank account in NRB with funds and after I create PayPal account, I can use PayPal to send and receive Payments to my bank account through PayPal. Thus PayPal will be a bridge for sending and receiving money in a affordable, hassle free and in time.
How PayPal will help Nepalese and freelancer?
PayPal will help to receive the funds from overseas in a very easy and hassle free way. There are hundreds of freelancer in Nepal, who is doing overseas work and they are finding difficulty in receiving payments in Nepal. This is because, those overseas company generally don’t send in Nepalese bank account and there needs some reliable online payment system. And in this case, PayPal would be the competent company acting as a bridge between overseas company and Nepal.
When will PayPal start its service in Nepal?
Its still not clear when will it officially provide service in Nepal. However, NRB is giving its efforts to welcome the PayPal and provide it’s services in Nepal. It has been a rumor since last 5 years that PayPal would be available in Nepal. However, this time, government officials have been formally taking this task to a new height to register and provide PayPal services in Nepal.
