Launching payments in Nepal: the stack

By Polynopsis team · Last updated 29 October 2026

Paying out in Nepal runs through Nepal Rastra Bank licensed remittance companies and banks. A licensed remittance company must bring foreign currency into Nepal as pre-funding through the banking system (or hold a foreign bank guarantee or cash deposit covering the full amount) before paying beneficiaries in rupees to bank accounts, wallets or as cash. Cross-border payment companies typically contract a licensed Nepali remittance company or bank such as IME, Prabhu Money Transfer, Nabil Remit or Global IME Bank, directly or through networks such as Thunes and Nium, and each remittance company's agreement with a foreign partner needs NRB approval.

Currency	NPR
Local payout rails	connectIPS, NCHL-IPS (via National Payments Interface), RTGS
Holiday calendar	Nepal bank holidays 2026 and 2027

The Nepal market

Nepal received US$14.70 billion in personal remittances in 2025, equal to 32.3% of GDP, up from US$11.25 billion (26.0% of GDP) in 2024 (World Bank data, last updated 8 October 2026). source
NRB recorded remittance inflows of Rs. 2,363.13 billion in fiscal year 2025/26 (to mid-July 2026), up 37.1% in rupee terms, or US$16.19 billion, up 28.1% in dollar terms. source
In 2025/26, 406,519 Nepali workers took first-time approval for foreign employment and 385,783 took approval for renewal of entry, against 505,957 and 333,309 the year before. source
Sending the equivalent of US$200 cost 2.76% on average from Malaysia to Nepal (14 services surveyed) and 3.41% from the United Arab Emirates (17 services) in Q3 2025, according to the World Bank's Remittance Prices Worldwide dataset. source
From mid-June to mid-July 2026, Nepalis made 82.61 million mobile banking transactions worth Rs. 696.94 billion and 69.59 million QR code payments worth Rs. 189.91 billion. source
Gross foreign exchange reserves stood at Rs. 3,897.67 billion (US$25.31 billion) in mid-July 2026, enough for 19.6 months of merchandise and services imports. source

Licensing: who can pay out in Nepal

As at 16 July 2026, NRB's Foreign Exchange Management Department had licensed 19 commercial banks, 6 development banks and 23 non-bank remittance companies under the Remittance Bylaw, 2079 (including second amendment). Licensed remittance companies include City Express Money Transfer, Esewa Money Transfer, Hulas Remittance, Prabhu Money Transfer and Remit To Nepal. source
Under the Remittance Bylaws, a remittance company needs paid-up capital of Rs. 250 million to also run payment service (through a subsidiary) and remittance card businesses, and Rs. 100 million otherwise, deposits a security of Rs. 20 million or Rs. 10 million with NRB in cash or bank guarantee, and receives a five-year licence. source
A remittance company must obtain NRB approval for each agreement, amendment and renewal with a foreign firm, submitting the foreign partner's outward remittance licence or certification and its AML/CFT policy. source
Licensed remittance companies handle inward remittance only: sending foreign currency out of Nepal is not allowed. They can pay beneficiaries through NRB-licensed payment system operators and payment service providers under agreement, but not in cash through that route. source
Nepal prohibits all virtual asset activities: NRB public notices declare virtual currency use illegal, and Section 262(A) of the National Criminal Code (amended 12 April 2024) prohibits producing, selling, trading, storing or transferring virtual assets for payments unless issued or recognised by NRB (FIU-Nepal, 2025). source

This page explains the rules in general terms and is not legal or regulatory advice. Check the primary source and take advice on how the rules apply to your firm.

Payout rails in Nepal

Rail	Operator	What matters for payouts	Source
connectIPS	Nepal Clearing House Limited (NCHL), licensed by NRB as a payment system operator	Real-time account-to-account transfers available 24x7. Regular per-transaction limits are NPR 2,000,000 on web, NPR 200,000 on the mobile app and NPR 50,000 through PSPs; between 9:00 PM and 7:00 AM the web limit is NPR 200,000 per transaction. Banks can set lower limits.	source
NCHL-IPS (via National Payments Interface)	Nepal Clearing House Limited	Non-real-time direct credits: the debit is immediate but beneficiary accounts are credited once nostro settlement completes at NRB, currently in sessions at 12:30 PM, 1:30 PM, 2:30 PM and 4:00 PM. NPI exposes both connectIPS and NCHL-IPS through APIs, with a batch limit of 10,000 transactions.	source
RTGS	Nepal Rastra Bank	Hosted by NRB for high-value and urgent interbank payments and net settlement of other systems, supporting NPR, USD, EUR, GBP and JPY, with the business-day schedule set by NRB's RTGS operating procedure.	source

The Nepal payments stack, layer by layer

The providers below are a starting shortlist for each layer, described from their own documentation. Confirm terms, coverage and licences with each provider.

Payout and collection partners

Provider	What it does in Nepal	Source
IME Remit	Nepal-licensed remittance company working with international remittance partners; beneficiaries collect cash at IME counters and agents (45,000+ nationwide agents), receive bank account deposits or receive into the Khalti by IME wallet.	source
Prabhu Money Transfer	Nepal-registered remittance company with international branches and agents, paying cash pickup against a control number and depositing directly to bank accounts at almost all Nepali financial institutions.	source
Nium · our guide	Pays out NPR to bank accounts and wallets, in real time to listed banks or next day subject to cut-off, with a maximum of NPR 2,000,000 per transaction and extra beneficiary documents required by the partner bank above NPR 1 million.	source
Thunes · our guide	Its pay network lists Nepal among its Asia Pacific payout markets.	source

Local banking and settlement accounts

Provider	What it does in Nepal	Source
Nabil Bank (Nabil Remit)	Inward remittance platform connecting to partners worldwide, paying in real time to accounts and wallets through national clearing and as cash at 20,000+ points, including IME, City Express, Samsara Remit and United Remit sub-agents.	source
Global IME Bank (Global Remit)	Inward remittances can be collected at 25,000+ locations including 350+ Global IME branches and the IME Remit network, or sent to Global IME accounts, mobile wallets or any bank.	source

FX and liquidity

Provider	What it does in Nepal	Source
NPR peg to the Indian rupee	NRB keeps the Nepali rupee pegged to the Indian rupee, unchanged in its 2026/27 monetary policy, and fixes INR 100 at NPR 160.00 buying and NPR 160.15 selling.	source
NRB open market exchange rates	NRB publishes daily open market buying and selling rates for the US dollar and other convertible currencies, alongside the fixed Indian rupee rate.	source
NRB foreign exchange operations	In 2025/26 NRB injected Rs. 1,172.14 billion of liquidity through net purchases of US$8.05 billion from the foreign exchange market, and bought Indian currency worth Rs. 710.36 billion by selling US$4.84 billion.	source

KYC and KYB providers

Provider	What it does in Nepal	Source
Shufti	Verifies 10 Nepali document types including the Citizenship Certificate, the biometric National Identity Card, passports, voter ID and driving licences, aligned to NRB requirements and the Asset (Money) Laundering Prevention Act 2008.	source
Didit	Captures and verifies the Citizenship Certificate, biometric passport, National Identity Card, driving licence and voter ID with face match and AML screening; it states there is currently no public government database validation API for Nepal.	source

Funding and prefunding NPR payouts

A licensed remittance company must bring foreign currency into Nepal from abroad as pre-funding through the banking system. If it pays beneficiaries before reimbursement, it must hold an unconditional foreign currency guarantee from a foreign bank, or a cash deposit from the foreign partner, covering the entire amount, and be reimbursed in foreign currency. source
Remittance companies must take their commission in foreign currency, and foreign currency received as remittance can be held in a foreign currency account at a bank or financial institution until the time NRB prescribes. source
From 6 April 2026 NRB directed all licensed banks and financial institutions and Nepal Clearing House Limited to close on Saturdays and Sundays, with office hours of 9:00 am to 5:00 pm Monday to Friday (9:00 am to 4:00 pm from Kartik 16 to Magh 15). source
NCHL-IPS credits land only after nostro settlement at NRB in the 12:30 PM, 1:30 PM, 2:30 PM and 4:00 PM sessions, while real-time connectIPS transfers through NPI are capped at NPR 2 million per interbank transaction. source
The rupee depreciated 10.9% against the US dollar between mid-July 2025 and mid-July 2026, with the buying rate moving from Rs. 137.0 to Rs. 153.72. source

Size the prefund to your runway target with the corridor runway calculator and the Nepal holiday calendar.

Launch checklist

Plan: launch volume, the prefund sized to your runway target including weekends and holidays, the contracting entity and the funding route.
Open accounts: shortlist payout partners and a local banking route from the layers above, and prepare the onboarding pack.
Set up: read access to every new balance, a runway target with alerts, and the corridor in your daily reports.
Go live: the first prefund and a test payout, then daily monitoring.

Polynopsis turns this into one plan with named approvals, then shows every Nepal partner, bank and wallet in one live position. See how a corridor launch works.

Frequently asked questions

Who can pay out remittances in Nepal?

Entities licensed by NRB under the Remittance Bylaw: as at 16 July 2026, 19 commercial banks, 6 development banks and 23 non-bank remittance companies.

Does a foreign sender have to prefund in Nepal?

Yes. The licensed remittance company must bring foreign currency into Nepal as pre-funding through the banking system, unless it holds a foreign bank guarantee or cash deposit covering the full amount.

Can remittances be paid to mobile wallets?

Yes. The Remittance Bylaws let remittance companies pay through NRB-licensed payment service providers, though not in cash through that route, and IME pays into the Khalti by IME wallet.

Are stablecoins or crypto allowed for funding?

No. Nepal prohibits all virtual asset activities, and the National Criminal Code amendment of April 2024 criminalises transferring virtual assets for payments unless issued or recognised by NRB.

Which days do Nepali banks work?

Monday to Friday since 6 April 2026, when NRB directed banks and Nepal Clearing House Limited to close on Saturdays and Sundays. connectIPS keeps running 24x7.

How is the Nepali rupee priced?

It is pegged to the Indian rupee at NPR 160.00 per INR 100 (buying), and NRB publishes daily open market rates for the US dollar and other convertible currencies.

Other markets

Sources

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About Polynopsis

Polynopsis is liquidity management software for cross-border payment companies. The name joins poly, many, and synopsis, a seeing together: one live view of money spread across many banks, payout partners, exchanges and stablecoin wallets, including money in flight, with a warning before any corridor runs dry.

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