Kathmandu. KATHMANDU: City Wallet Pvt. Ltd. and Jaldi Paisa Pvt. Ltd., two digital wallet companies licensed by Nepal Rastra Bank (NRB), have merged with each other. After the merger, both the organizations will be operated in the name of ‘City Wallet Private Limited’ in an integrated manner.

According to the information provided by the Payment Systems Department of Nepal Rastra Bank, the merger process has been given final approval. With this, the entire assets and liabilities of both companies will now be handled by City Wallet Pvt. Ltd. in the new structure.

The services of both wallets will now come into operation in an integrated manner from Thursday, April 13. After this, users will be able to use digital payment services through a single platform ‘City Wallet’.

The merger was done in accordance with the sub-regulation 13 of Regulation 37 of the Payment and Settlement Bylaw (First Amendment), 2077. Prior to this, mergers have been practiced in the digital payment sector in Nepal. For example, Khalti and IME Pay have been merged to operate as ‘Khalti by IME Pay’.