Nepal Rastra Bank Mandates National ID Verification for Digital Wallet Accounts
Nepal Rastra Bank has issued new rules requiring licensed payment service providers to verify wallet users against National Identity Card records and update National Identity Numbers by the end of Ashwin 2083. The provisions include special accommodations for Nepali citizens abroad and for persons with disabilities or those unable to care for themselves.
Nepal Rastra Bank (NRB) has introduced new provisions governing the use of the National Identity Card (NID) for opening and updating digital wallet accounts, tightening identity verification across the country's digital payment ecosystem.
The central bank issued the financial literacy message on Ashwin 6, 2083, outlining requirements that licensed payment service providers must follow when verifying the identity of wallet users.
Under the new rules, licensed payment service providers must:
- Open wallet accounts only after verifying customer details against the electronic records of the National Identity Card.
- Obtain a self-declaration from wallet users on whether they have obtained a National Identity Card, collected through the mobile application or other appropriate means by the end of Ashwin 2083.
- Update the National Identity Number (NIN) of wallet users who already hold a National Identity Card by the end of Ashwin 2083.
The provision is aimed at ensuring that wallet users' identification details are properly updated and verified in line with the central bank's requirements.
Nepali citizens who have not yet obtained a National Identity Card will also be required to update their customer identification details after obtaining the card. NRB has instructed licensed payment service providers to establish a system to notify such users every month through their mobile applications or other appropriate channels.
Nepali citizens residing abroad will be able to open electronic wallets online while remaining overseas even without a National Identity Card or National Identity Number. However, they must submit other necessary identification documents prescribed for opening the wallet. Once such a user returns to Nepal, the concerned licensed payment service provider must obtain and update the user's National Identity Card details within 35 days of their return.
NRB has also made a special provision for citizens who are unable to take care of themselves, persons with disabilities, and helpless citizens. Such individuals may open and operate digital wallets by submitting necessary documents other than a National Identity Card or National Identity Number, as permitted under the applicable requirements.
The new provisions form part of NRB's broader efforts to strengthen customer identification and verification procedures in the digital payment ecosystem while offering practical alternatives for users who may not yet have access to a National Identity Card.