Regulatory gaps in Nepal’s fintech

There is a severe lack of dedicated fintech-related education in the country.

The fintech sector is one of the fastest-growing industries in the world, offering numerous opportunities and challenges for developing countries like Nepal. Nepal Rastra Bank (NRB), the country’s central bank, formulated the National Payment Systems Development Strategy (NPSDS) 2014 under the NRB Act 2002 to modernise the payment systems and develop a secure, robust and efficient payment system. Digital payments in Nepal gained momentum in early 2016 and significantly increased from 2020 onwards.