Nepal Rastra Bank’s directive making the National Identity Card mandatory for payment systems

KATHMANDU:- Nepal Rastra Bank has issued the 15th amendment to the Unified Directive on Payment Systems, 2082, incorporating provisions regarding the National Identity Card into the procedures for opening ‘wallets’ and updating user details by payment service providers.

According to a circular issued by the Payment Systems Department on Friday, under the revised provisions, licensed payment service providers must now verify the details of Nepali citizens against the electronic records of their National Identity Cards when opening wallets.

Similarly, a provision has been made requiring authorized institutions to obtain a self-declaration from wallet users—via a mobile application or other suitable medium—regarding whether or not they possess National Identity Card details, by the end of Ashwin 2083.

According to the guidelines, Nepali citizens who have obtained a National Identity Card must update their National Identity Card number in their wallets by the end of Ashwin 2083. It is also stipulated that arrangements must be made to provide monthly notifications to users who have not yet obtained the card, reminding them to update their details once they have acquired it.

The provision allowing Nepali citizens residing abroad to open an electronic wallet online—based on the necessary documents—remains in effect. The central bank states that such users must update their National Identity Card details with the respective institution within six months of returning to Nepal.

Similarly, the revised guidelines include a provision allowing citizens with disabilities or those who are helpless and unable to care for themselves to open a wallet and conduct transactions based on other necessary documents, in addition to the National Identity Card or National Identity Card number.