NRB approves merger of IME Pay and Khalti, Creating Nepal’s leading digital wallet

KATHMANDU: Nepal Rastra Bank has officially approved the merger of IME Pay and Khalti, marking a groundbreaking consolidation of the country’s two leading digital wallet platforms. This historic union, the first of its kind in Nepal’s digital payment landscape, will birth IME Khalti Limited, headquartered at Panipokhari, Kathmandu.

The merged entity, operating under the Khalti app, is poised to become Nepal’s most robust digital wallet, leveraging the highest paid-up capital and a user base exceeding 5 million, signaling a significant leap in the nation’s fintech sector.

The merger, approved after rigorous regulatory scrutiny, reflects the rapid adoption of digital transactions in Nepal, a trend that has gained momentum despite the relatively short history of such services. Post-merger, the Khalti app will serve as the unified platform, integrating all features from IME Pay.

Existing users of both wallets can seamlessly transition with a single tap, while new users can download the Khalti app to access an expanded suite of services. Over the next three months, a meticulous integration process will align user balances, Khalti Points, and IME Pay Reward Points, with both apps remaining operational during this period to ensure a smooth transition.

This consolidation is expected to enhance access to digital payment solutions, particularly in rural areas, aligning with the central bank’s vision for financial inclusion. The Khalti app will offer innovative features, including remittance reception from anywhere in the world, bank account opening, Visa card issuance, and future loan facilities, positioning it as a comprehensive fintech platform. Company officials are confident that this merger will set a new benchmark for convenience and reliability in Nepal’s payment system, reducing cash dependency and fostering transparency across economic activities.

The move comes amid growing demand for cashless transactions, with digital wallets becoming integral to daily life across all age groups. This merger is seen as a pivotal step toward expanding electronic payments from urban centers to remote villages, promising significant time and cost savings for users. Industry experts note that the combined strength of IME Pay and Khalti, with their extensive user networks and robust capital, will bolster Nepal’s digital economy, supporting the central bank’s push for a cashless future.

The integration process will prioritize user convenience, allowing IME Pay-only users to adopt Khalti with minimal effort, while ensuring all existing balances and rewards are preserved. This strategic alliance is anticipated to drive competition and innovation in the fintech space, potentially attracting more investment and technological advancements. With Nepal’s digital payment infrastructure still evolving, this merger could serve as a model for future collaborations, enhancing the country’s position in the global fintech arena.

However, the success of this merger hinges on effective execution over the next three months. Stakeholders are optimistic but cautious, emphasizing the need for seamless technical integration and user education to maximize adoption.

The company envisions Khalti as a trusted payment system that not only meets current demands but also paves the way for future financial services, reinforcing Nepal’s commitment to a digital-first economy. As the integration unfolds, all eyes will be on how this pioneering move reshapes the landscape of online payments and digital wallets in the region.