Following this announcement, the merging process is facilitated by the regulatory framework that was established by Nepal Rastra Bank (NRB), which amended the Transaction and Settlement Bylaw in 2077 in order to allow digital wallet mergers under certain conditions.
Khalti and IME Pay are reported to take first advantage of this regulatory change. In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
IME Digital represents a part of the IME Group and it launched its mobile money service ‘IME pay’ as part of its digital financial services initiative in 2017. At the same time, the company was licensed in order to provide customers with the possibility to access secure and efficient digital payment solutions. Khalti is a Nepal-based digital wallet and payment gateway that was designed in order to offer its partners and clients a more secure and efficient way to make transactions in the region.
Through this initiative, the merged company is expected to focus on optimising the overall customer experience, as well as accelerate its development process in an ever-evolving market. Furthermore, the leadership structure, including the board of directors and CEO, has been finalised, while the overall financial details and share distribution are still under discussion.
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