As a Payment platform provided by Gateway Payment Service Pvt. Ltd., PaymentNepal performs the roles of processing, clearing, and settlement of payment transactions. The Gateway of PaymentNepal is of a card-not-present nature which enables conducting card-based transactions online.
PaymentNepal is an online system to pay for things without using a physical card. It works with different types of cards like VISA and Mastercard. Nepal registered business can easy use this system by registering with us.
Payment Nepal plans to expand its services in the future to include more card associations like JCB, Discover, RuPay, and UnionPay.
Currently, only VISA and Mastercard are applicable for this project
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Using a payment gateway for online transactions is becoming increasingly popular in Nepal, especially due to the migration of young people to other countries who make purchases in Nepal to send to their families. The Nepal Government has even introduced a VAT refund policy for digital transactions, and the regulatory body, Nepal Rastra Bank, has set transaction limits to encourage the adoption of digital payments.
Transaction through Payment Gateway is the most prevailing process of online purchase in the developed nation and this effect can be seen even in Nepal. The increase in migration of youth to a foreign nation and making purchases in Nepal to deliver them to family members through Payment Gateway sets the proof that Payment Gateway is one of the reliable sources of payment and is the future of e-commerce payment gateway.
Today, merchant networks across e-commerce sectors are greatly dependent on the speed, flexibility, and convenience of payment acceptance in digital mediums. The features and processing of Payment Gateway for merchants providing services to their customers have been revised in such a way that it is indeed perceived as being hassle-free, customer-friendly, and in the true sense an easily available cash management package by the potential clients.
In addition, Nepal Government has also announced a VAT refund policy for transactions performs via a digital platform. Regulatory body Nepal Rastra Bank (NRB) also imposed a leverage transaction limit for invoice-based transactions performed via Digital channels which indicates Nepalese markets are favorable and also moving towards a digital payment eco-system.
