How to Receive Online Payments in Nepal: A Comprehensive Guide

With the rapid growth of e-commerce and digital transactions in Nepal, it is crucial for businesses to have efficient online payment options. This article will guide you through various methods to receive online payments in Nepal, providing a step-by-step process and essential considerations to take into account.

Popular Methods to Receive Online Payments in Nepal

In Nepal, businesses can choose from a variety of payment methods to receive online payments. Here are some of the most popular options:

Payment Gateways

1. eSewa - This digital wallet is one of the most popular payment gateways in Nepal. It supports businesses that wish to receive online payments. To integrate eSewa into your website or app, you will need to sign up for an account and follow the provided documentation.

2. Khalti - Another widely used digital wallet, Khalti caters to online merchants. It offers API integration, making it easy to integrate into your online platforms. Sign up and follow the API documentation for integration.

3. Fonepay - Fonepay provides payment solutions for merchants. Once you sign up and verify your profile, you can integrate Fonepay into your website.

Bank Transfers

Many banks in Nepal offer online banking services that allow businesses to receive payments directly into their bank accounts. Popular options include NEFT, RTGS, and other online transfer methods. This method is straightforward and widely accepted.

International Payment Processors

1. PayPal - Although PayPal is not fully operational for sending and receiving payments in Nepal, you can receive payments if you have a US bank account linked to your PayPal account. Consider setting up a PayPal account in a supported country and linking it to your Nepali business account.

2. Stripe - Similar to PayPal, Stripe is another international payment processor that can be used in Nepal. However, it might require a workaround via a third-party bank account in a supported country. Set up a Stripe account and ensure compliance with local regulations.

Cryptocurrency

For businesses open to using cryptocurrencies, platforms like Binance or local exchanges can help you receive payments in digital currencies. This method is less common but can be a viable solution for specific businesses.

Mobile Payment Solutions

1. Daraz - As a popular e-commerce platform in Nepal, Daraz offers payment solutions where you can receive payments directly through their systems.

2. SastoDeal - Another platform that supports mobile payments, SastoDeal provides users with easy and secure payment options.

Steps to Set Up Online Payments

1. Choose a Payment Method - Evaluate which payment gateway or method best suits your business needs.

2. Create an Account - Sign up for the chosen payment platform and complete the necessary verification processes.

3. Integrate with Your Website - If applicable, integrate the payment gateway with your website. Most services provide documentation for this process.

4. Test Your Setup - Conduct test transactions before going live to ensure everything is working correctly.

5. Promote Your Payment Options - Inform your customers about the payment methods you accept.

Considerations

1. Fees - Be aware of the transaction fees associated with each payment method.

2. Regulations - Stay updated on any regulations regarding online payments in Nepal as the landscape can change regularly. It's important to comply with local laws and regulations to avoid legal issues.

By carefully choosing the right method and setting it up properly, you can efficiently receive online payments in Nepal.