Namaste Pay, a digital wallet product of Nepal Digital Payment Company (NDPC), has begun its preliminary test. The initial testing was done on May 2 on the occasion of 4th National ICT Day amid a virtual program.
Nepal Telecom and Rastriya Banijya Bank have jointly invested in the digital payment service.
On the day, Minister for Communications and Information Technology (MCIT) Parbat Gurung said that though they were planning to launch the app on the same day, it was postponed due to technical reasons.
It is said that Namaste Pay can operate both online and offline. The users can use the app without having an internet connection.
The paid-up capital of the company is Rs 400 million, according to Nepal Rastra Bank.
According to Nepal Telecommunication Authority (NTA), the digital payment companies should have a paid-up capital of at least Rs 10 million. This is the digital payment company with the highest paid-up capital till now.