Nepal Rashtra Bank, Nepal’s governing bank, has finally permitted limited international transactions using prepaid cards. According to NRB, ‘Ka’ level bank and ‘Kha’ level bank can issue internationally valid prepaid cards with up to $500 in balance. The development comes after 3 months of the announcement of the bill with necessary laws regarding international transactions.
Prepaid international cards were previously not allowed for the general public. With this development, now the general public can get a prepaid card. The amount on the card can be used for the payment of services legal in Nepal. This has enabled a way to subscribe to the OTT platforms like Netflix and Amazon Prime, currently watched in Nepal using accounts of relatives living in other countries or paying through illegal channels. Not limited to this, Nepalese can also purchase digital and physical goods from international stores like Envato, Google Play Store, Amazon, AliExpress, and so on. Paying fees for SAT, TOEFL, GRE, etc., will also be easier than ever.
How positive are you with the development of this news? If you get the prepaid card, what will be the first thing you’ll spend on?