KATHMANDU, Nov 3: Nepal Rastra Bank has revoked the license of GME Pay, a payment service provider company. NRB’s Payment Systems Department issued a notice on Tuesday revoking the license of GME Pay Private Limited.
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"The bank had issued a license to GME Pay Pvt. Ltd Lainchaur, Kathmandu to operate as a payment service provider on October 8, 2020. But now the license has been revoked," the bank said in the notice.
According to Bhuwan Kandel, Executive Director of the Payment Services Department at Nepal Rastra Bank, the permit has been revoked because the wallet did not comply with the payment regulations. “The license has been revoked after the service could not be brought into operation for a year,” he said.
