‘Mobile phone is the biggest tool for financial inclusion’

Brett King, an Australian futurist, says rapid digital development in China and India would enable Nepal to become a cashless society by early 2030.

The use of mobile banking, internet banking and digital wallets has been rising in recent years. As Nepal aims to transition towards cashless society, it has been signing agreements with various countries to permit online cross-border digital payment. Nepal has signed agreements with India, China and Sri Lanka for cross-border digital payments. Brett King , an Australian futurist, author and co-founder of Moven, a New York-based mobile banking startup, has spoken in over 50 countries and previously advised the Obama Administration on fintech policy. The Post’s Krishana Prasain caught up with King, who is in Nepal to attend a banking event, to talk about Nepal’s fintech assessment, and ways to overcome challenges to become a cashless society. Excerpts: