Khalti, one of the most popular digital payment services, is moving up in the digital payment service. Nepal Rastra Bank has now provided the company with a Payment Service Provider (PSP) license. This means that besides digital payment services, Khalti is now able to provide domestic money transfer facilities and other mobile financial services in Nepal.
Payment Service Provider (PSP) are the ones who work behind the scenes in the payment ecosystem. They make modern commerce possible by providing connective financial tissue between merchants, consumers, card brand networks and financial institutions. They are responsible to connect merchants to the electronic financial system so that they can accept credit and debit card payments. With Khalti, now such merchants will also accept payment via Khalti.
eSewa is another Payment Service Provider in Nepal. And we can see how popular it has become with the users. Most organizations use eSewa to make payment to each other for their business transactions, which are more systematic and easier as well.
Khalti already provides services like electronic bill payments and bookings. With the PSP, it will be able to provide users a broader level of services to the users, which might make the lives of consumers, like us, easier and more convenient.
What do you think of Khalti? How much do you use it? And what do you think of the services? I, personally, would like to see Khalti add more banks to their list. Do let us know your thoughts on this.
Also read Top Digital Wallets in Nepal.