Kathmandu. Nepal Rastra Bank (NRB) has issued a new directive requiring all payment system operators (PSOs) to be registered as public limited companies. According to the directive, institutions holding licenses to operate as PSOs must transition into public limited companies by the end of Ashar 2085 (mid-July 2028).

Currently, nine companies have received permission from NRB to function as payment system operators in Nepal. These include Nepal Clearing House, SmartChoice Technologies, UnionPay International, Visa Worldwide, Nepal Payment Solution, Mastercard Asia/Pacific, PhonePay Payment Services, First Pay Technology, and Gateway Payment Services.

Among them, Visa Worldwide, Mastercard Asia/Pacific, First Pay Technology, and Gateway Payment Services are now required to convert into public limited companies as per the central bank’s directive. This move aims to enhance financial transparency, accountability, and corporate governance within Nepal’s digital payment sector.