Nepal Annual Monitor 2016

The digital financial services landscape in Nepal is changing, as the Nepal Rastra Bank starts issuing licences to non-bank payment service providers. Non-banks are actively engaging to set up agent networks and develop partnerships to co-create products, and many mainstream financial institutions are investing in new digital channels to deepen their services. To further enable growth in the market, Nepal Rastra Bank is working on various policy initiatives, viz. the National Retail Payment Strategy, and investing in an e-mapping system to track market progress. At the same time, the Government is working to digitize the social benefits of 2.3 million people. These combined efforts and an openness by market players to invest and innovate will be key to drive the market forward.