Lalitpur, May 8
Former Governor of the
Nepal Rastra Bank (NRB), Maha Prasad Adhikari, has said that while the digital
payment has gained traction in the country, it has a reliable security
provision to secure the data and information of the consumers and others
concerned.
Speaking at the Nepal
Fintech Festival 2025 organised by Kathmandu Fintek in Lalitpur on Thursday, he
said that all government payment and budget moblisation has been performed
digitally. This has made the fund transfer easy and real-time.
"I told the
traders and consumers that I don't want to see the physical currency notes and
requested them to make the transactions digitally," he said recalling the
NRB's second project of QR code application at the Kalimati Vegetable and Fruit
Market in Kathmandu during the COVID-19 period.
During the pandemic,
the NRB had implemented the digital payment and transaction with high priority.
Neelesh Man Singh
Pradhan, CEO of Nepal Clearing House Limited, said that inclusion and
sustainability of the payment system are the major challenges in Nepal despite
their exponential growth and expansion in the last few years.
Likewise, Pradyuman
Pokharel, CEO of Muktinath Bikas Bank, said that number of digital transactions
has gone up significantly which has a positive impact on access to finance and
financial inclusion in the country.
Yet, there is a need
to further expand the use of digital technology in finance and business, he
maintained.
Surendra Raj Regmi,
Vice-President of Nepal Bankers' Association, pointed at the need to adopt
technology to automate the process and enhance efficiency in service delivery.
"We have
abundance of IT-related expertise which will support the banking and finance
sector to develop and implement effective new digital instrument," he
said.
Founder of Kathmandu
FinteK, Sanjib Subba, highlighted the importance of industry-level dialogues
and exchange of ideas for the smooth development of the sector.
The one-day conference
has drawn the bankers and financial sector professionals and deliberated on the
impact of the recent innovations in digital technology like the artificial
intelligence, consumers rights, new digital financial products and technological
drivers of future financial activities in Nepal and elsewhere.
An exhibition of
recent innovations in the fintech sector and solutions was also organised on the
sideline of the event.
Published in The Rising Nepal daily on 9 May 2025.
No comments:
Post a Comment