Nepal Digital Payments Company Limited

What Nepal Digital Payments Company Limited does

Nepal Digital Payments Company Limited (NDPC) is a Kathmandu-based private limited company incorporated in 2020 as a joint venture between two state-owned entities, Nepal Doorsanchar Company Limited (Nepal Telecom) and Rastriya Banijya Bank, to operate Namaste Pay, a mobile financial service wallet licensed by Nepal Rastra Bank. Namaste Pay is the first dual-mode mobile wallet in Nepal, offering both an online smartphone application and an offline USSD channel (*500#) that runs on GSM networks — including 2G feature phones — enabling digital wallet services such as P2P transfers, balance inquiry, airtime recharge, bill payments, merchant QR payments, and fund transfers to bank accounts without requiring internet connectivity. The platform is secured via password, biometric, and OTP authentication, and integrates with Fonepay and NCHL for QR interoperability across Nepal's bank-anchored payment rails.

NDPC monetizes primarily through transaction fees on P2P/merchant payments and merchant discount rates (MDR) on QR transactions, while USSD access is provided free of charge to customers, creating a freemium acquisition layer aimed at unbanked and rural segments. Distribution is omnichannel: self-serve mobile app downloads, USSD short code, a nationwide agent network for cash-in/cash-out, and a merchant QR network spanning local street shops, supermarkets, educational institutions, healthcare providers, and government agencies. Channel partnerships with Nabil Bank, Fonepay, and RUMSAN extend commercial reach, while the state-owned parent structure provides telecom infrastructure (Nepal Telecom) and financial distribution (Rastriya Banijya Bank) as embedded distribution moats. The company employs approximately 30 staff and is governed by a board with representation from both state-owned parents.

Strategically, NDPC is positioned to capture Nepal's digital payments tailwind — the market is projected to grow from US$3,621M (2024) to US$6,105M (2028) at a 13.95% CAGR, with QR-based transactions having grown 189.53% in FY 2022/23 — but faces competitive pressure from established wallets (eSewa, Khalti, IME Pay) and structural margin pressure from minimal MDR rates that the company itself flags as a sustainability concern. Customer segments are deliberately broad and inclusive, spanning general consumers (banked and unbanked), SMBs and large merchants across retail, education, healthcare, and government, with a stated mission of improving financial inclusion via modern communication and financial technologies.

Name

Nepal Digital Payments Company Limited

Legal name

Nepal Digital Payments Company Limited

Website

https://ndpc.com.np

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Nepal Digital Payments Company Limited (NDPC) operates Namaste Pay, a dual-mode mobile wallet offering online app and offline USSD (*500#) services for banked and unbanked Nepali consumers, merchants, and government agencies across retail, education, and healthcare verticals.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), Youth / Family Wallets & Allowance Payments (FSAMAEAK)

Keywords

• Mobile wallet services
• Digital payments
• USSD payments
• QR code payments
• Financial inclusion

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Fees: Fees charged on financial transactions including P2P transfers, bill payments, and merchant payments conducted through the Namaste Pay platform.
2. Merchant Discount Rate (MDR): Commission earned from merchants for processing QR code-based payments. The company faces challenges with minimal MDR rates affecting long-term sustainability.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Nepal Digital Payments Company Limited operates Namaste Pay, a mobile financial service wallet that allows users to conduct digital transactions via a smartphone application or via USSD (*500#) on feature phones without internet. The wallet supports peer-to-peer transfers, merchant QR payments, mobile airtime top-up, utility bill payments, ticket booking, fund transfers to bank accounts, and a reward points program, with authentication handled through passwords, biometrics, and OTPs.

Product overview

Nepal Digital Payments Company Limited operates Namaste Pay, a unified mobile financial service platform that serves as the company's core product. The platform offers both online (smartphone app-based) and offline (USSD-based) digital wallet functionality, making it accessible to all mobile phone users regardless of device type. The main Namaste Pay wallet is supplemented by integrated service modules including mobile top-up, utility bill payments, ticket booking, QR code merchant payments, reward points, and fund transfer services. The USSD offline mode (*500#) extends accessibility to feature phones and areas with limited internet connectivity, particularly in rural Nepal.

Differentiator

Problem solved

Functional benefit

Brands

• Namaste Pay: Mobile financial service (MFS) wallet operated by Nepal Digital Payments Company Limited. First mobile wallet in Nepal to offer both online (app-based) and offline (USSD-based) services, enabling both smartphone and feature phone users to access digital financial services.

Products and services

• Namaste Pay Mobile Wallet Mobile financial service (MFS) wallet enabling digital financial transactions including P2P transfers, QR merchant payments, airtime top-up, utility bill payments, ticket booking, fund transfers to bank accounts, and a reward points program; accessible via smartphone app with KYC onboarding and OTP verification.
• Namaste Pay USSD (Offline Mode) USSD-based offline digital wallet access via the *500# short code, enabling digital wallet services (account management, balance check, recharge, add money, send money, bill payments, merchant payments) without internet connectivity on GSM networks and feature phones on 2G; currently available for Nepal Telecom customers free of charge.

Quantifiable outcome

• 189.53% increase in QR code-based transactions in FY 2022/23
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Nepal Doorsanchar Company Limited (Nepal Telecom)coreStrategic or Co-development Partner · 1 January 2076State-owned telecom operator that partnered with Rastriya Banijya Bank to form NDPC. Nepal Telecom provides the telecommunications infrastructure and network reach essential for mobile financial services delivery.
• Rastriya Banijya BankcoreStrategic or Co-development Partner · 1 January 2076State-owned leading commercial bank with nationwide coverage of financial services. Partnered with Nepal Telecom to establish NDPC for mobile financial services.
• FonepaycoreTechnology or IntegrationPayment System Operator ensuring seamless infrastructure and system operation for QR code-based transactions. Contract signing ceremony between Namaste Pay and Fonepay documented in company gallery.
• Nabil Bank LimitedcoreStrategic or Co-development PartnerLeading private commercial bank. MoU signing ceremony between Namaste Pay and Nabil Bank Limited to extend service capabilities and merchant network reach.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• QPay Nepal: Nepali mobile wallet and QR-based payment service offering similar P2P and merchant payment functionality. A direct competitor within the same domestic digital wallet category.
• IME Pay: Mobile wallet operated by IME Group in Nepal, providing P2P, merchant QR, and remittance services. A direct peer competing for the same Nepali wallet users and merchants as Namaste Pay.
• eSewa (F1Soft International): Nepal's leading mobile wallet and digital payments app, operated by F1Soft International. Directly comparable to Namaste Pay as a consumer-facing digital wallet offering P2P transfers, merchant QR payments, bill pay, and airtime top-up in the same Nepali market.
• Khalti: Nepal-based mobile wallet offering digital payments, bill payments, merchant QR, and financial services. Direct competitor to Namaste Pay serving the same consumer and merchant segments within Nepal.
• ConnectIPS (Nepal Clearing House): Interbank real-time payment system in Nepal enabling fund transfers and merchant payments via participating banks. Competes with Namaste Pay for digital payment share, particularly in P2P and bill-payment flows.

Regional players

• bKash: Bangladesh's leading mobile financial services platform serving unbanked populations via USSD + app. Comparable to Namaste Pay's rural financial inclusion thesis and dual-mode architecture, though operating in a different geography.

Broad incumbents

• Fonepay Payment Service: Nepal's national QR payment switch operated by Fonepay, integrated with most Nepali banks and wallets. Comparable as a payment infrastructure participant and Namaste Pay's interoperability partner for QR transactions.
• NCHL (National Payments Corporation of Nepal): State-backed payment system operator managing retail payment infrastructure in Nepal (including ConnectIPS and QR rails). Comparable as an integrated payment-infrastructure player overlapping with Namaste Pay's QR ecosystem.
• Paytm: India's largest digital wallet and payments platform offering QR merchant payments, bill pay, and financial services. Comparable as a broader South Asian incumbent in the same wallet/QR merchant category.
• M-Pesa (Vodafone / Safaricom): Global mobile money pioneer offering wallet services via telco-led USSD and app channels across Africa and parts of Asia. Comparable to Namaste Pay's telco-bank JV structure and USSD-based rural inclusion model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nepal-digital-payments-company-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nepal Digital Payments Company Limited