PayPal is hugely popular online payment system in the world. It is widely used and accepted in most of the online stores and outlets. However, there are lots of misconception regarding PayPal in Nepal. I am trying to clear everything that relate about it.
In a recent update Nepal Rastra Bank NRB is planning to allow Nepali citizen at least US$500 to pay for different products and services. But when it will be implemented it is unsure.
What is PayPal in Nepal ?
If it has to be an honest answer, it is almost nothing. Having the PayPal account here in Nepal is like the zero value unless and until you have international transactions. However, there are many Nepali people they do the international transaction. Blogger, tour operators, hotels etc. businesses may find it very high value. When you constantly need to make the international payment, PayPal is very useful.
Does PayPal work in Nepal ?
The simple and straight answer to this question is a big NO. It does not work in Nepal till date. But the chances are high it will work in near future. In a recently held budget, the finance minister addressed about letting people purchase $2000 products or services from international market. Hopefully PayPal will be accepted one of the online payment system. However, you can sign up for PayPal account easily.
Yes you hear it right and You can open the PayPal account from Nepal. Though PayPal does not work perfectly, you can still sign up easily from Nepal. The sign up process is very simple. You just need to fill up few details and your account is ready. You can use Nepali phone number and receive the code in SMS for phone verification. Can receive an email for email verification. That means you can easily create verified PayPal account but not for the transaction. PayPal has two types of verification. One is account verification, while another is transaction verification. You can sign up for the account. Verify your phone number and email address. But until you add credit card that accept international payment, you are not verified for the transaction.
PayPal’s legal value in Nepal.
Having PayPal account in Nepal is legal. all of the above does not indicate that PayPal is illegal. You can easily sign up for the PayPal account and its completely legal. Thus, you can simply verify your phone number. When you sign up from Nepal and choose the country Nepal. It clearly restricts to receive money into your PayPal account. The send button is active. But the main problem is to load the fund into your PayPal account. You need a US$ credit card to load funds. But having the US$ credit card with online payment enable is hard to get in Nepal.
So, You can create PayPal account in and from Nepal. It is legal, though you can not make the transaction being completely honest with PayPal terms and condition.
Take a look at the below screens for the sign up process from Nepal.
What about so called PayPal services in Nepal ?
If you are interested to have PayPal account and search it around, you probably find few with the tagline “PayPal solution in Nepal” , “PayPal card in Nepal” and “PayPal to Nepal”. These people probably will create you PayPal account keeping different country as your country and maybe verify with the virtual card. I am not one to call all of them spam but how can one create you account with full of features while it is not incorporated by PayPal itself for Nepal. Time to think not only once but many times.
What’s the suggestions ?
If you are to take my suggestion, do not go for so called PayPal service provider in Nepal. Instead use the credit card or PayPal account from any one of your friend in US, UK, Australia or any other countries to pay for international products or services. You can also seek help from few people who can help you paying for your products and services. In returns you can payback them using Nepali online payment services.
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When will PayPal come to Nepal ?
This is really unanswerable question. I have seen in few online writing that PayPal is a big company and does not care about the small country Nepal. But the statement is baseless. It is our own NRB (Nepal Rastra Bank ) which has no clear policy. NRB does not allow anyone to send and receive foreign currency in Nepal. So, I strongly believe if NRB makes clear policy regarding international payments for Nepalese people, you can surely make transaction using PayPal. Our own online payment services like e-Sewa or Khalti will bring the features to load funds into PayPal account. We can just sit, relax and wait for that moment when Nepal Government and NRB makes the clear policy regarding international payments.
Other alternative online payments in Nepal.
If you are looking for an alternatives that is available for international payments from Nepal, there is none. As it is the issue of NRB and no services will allow you to pay internationally. If you do so that is against NRB policy. But there are few online payments like Stripe and Payoneer which allow you to earn some US$ and use it for your international payments. That means if you want to get paid online you can use those payment services and use that money. However, loading funds to Stripe and Payoneer from Nepal is not possible. If anyone does, that must be using some tricks which is not the best practice.
In the context of inside Nepal, there are alternatives to pay online. e-Sewa, Khalti, IME Pay, Prabhu Pay etc. and there are few others emerging. You can use these payment services to buy many products and services online inside Nepal. That includes, domain name and hosting as well.
If you have any questions regarding this issue, feel free to write in the comment section below. I will be happy to assist you as far as I can.