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Nepal Telecom to Operate Mobile Money Service Within Poush 2077

Nepal Telecom has started its preparations to operate the mobile money service within Poush, 2077. Nepal Telecom and Rashtriya Banijya Bank (RBB) had set up a new company for mobile money service. As known, Six companies participated in the bid for the mobile money project. Find the details of the bidder of mobile money service below.

NTA (Nepal Telecommunication Authority) had given Nepal Telecom a green signal to operate its own mobile money service on Magh 14th. As known, Ncell was also given permission to operate a similar service by the NTA. Since then Nepal Telecom had commenced its internal preparations for the operation of the mobile money service in Nepal.

If everything goes as per plan, the new payment platform from Nepal Digital Payment company will be ready to serve people by Poush 2077. As per the English date, the launching of the payment service could be even within this year 2020.

Bidders for Nepal Telecom Mobile money service

Nepal Telecom’s subsidiary company had announced a global tender to procure hardware and software required for the mobile money project. Kantipur reports that a total of six different international companies had participated in the tender.

As per their report which quotes Nepal Telecom MD Mr. Dilli Ram Adhikari, the outcome of the tender evaluation will be announced after 10 days. After which, they will ink a contract with the chosen one to complete the project within 3 months. The names of the companies which participated in the bid along with their bidding amounts are listed as below:

Name Of Participating Companies for the Mobile Money bidCountryBidding Amount
Shenzhen KingdomChina$13,03,631
6DIndia$14,18,225
ComvivaIndia$16,66,965
One97India$13,96,606
Panamax IncUSA$19,85,029
Seamless USA

As per the permission given by the Nepal Rastra Bank to the Nepal Telecom, it should start the mobile money service within the six months from days counting 1st week of Shrawan. So, Nepal Telecom is all geared up to meet this deadline from NRB. Nepal Rastra Bank (NRB) has also chosen not to give the licenses to other organizations until further notice.

Mobile Money Service

Now let’s know about the mobile money service. We have various online payment platforms in Nepal but Nepal Telecom’s mobile money service or mobile wallet is one of its kind. It is a wallet based payment service which does not need to have a bank account.

Telecom’s subscribers will also be able to use their mobile balance as a wallet. The customers will be able to use the balance for buying several products/services and bills payment in addition to the current voice, data packs. So, after the launch of this service, your mobile balance itself become like your bank account. Isn’t that interesting? 

Conclusion

This new mobile payment service will make big waves in the online payment sector of Nepal. As the service is very easy to use and one will only need their mobile number for its use. The online payment service will surely be a big success and popular among public. Nepal Telecom already has millions of customers while RBB adds It might bring a revolution in the adoption of digital payment here in Nepal. Nepal will take a giant leap towards the cashless society if such payment service from two of the government giant entities succeeds. 

Do checkout: Top Online/Digital Payment Platforms In Nepal

What are your thoughts about the upcoming Mobile Money service of Nepal Telecom? Do you think this project will be completed by Poush 2077? Are you excited to use this new service? Please let us know in the comment section below.

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