Nepal Prepaid Cards for Social Advertising. The central bank has given the facility to issue prepaid cards to Nepali banks. The Foreign Exchange Department of Nepal Rastra Bank has stated that prepaid cards can be issued to commercial banks and development banks in foreign currency up to Rs 500.
According to Ramu Poudel, head of the foreign exchange department, commercial banks. And national level development banks will issue prepaid cards up to $500 in convertible foreign currency. This will make it easier to boost social networks including Facebook.
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At present, foreign cards are being used to advertise on social media from Nepal. Accounts were being opened and payments were being made to foreign banks. NRB had also tightened the rules saying that Nepali money was being sent abroad illegally while making such payment.
With this arrangement made by NRB, banks will now issue prepaid cards. These cards will make it easier to pay for advertisements on social media and to buy goods from foreign online.
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Facebook is also the most advertised social network. Advertising can be done by paying money from a Facebook account or Facebook page. If you have to advertise a product or promotional material, you can advertise on a Facebook account. Or page by posting a photo or video containing all the information about that product.
Facebook itself displays it by taking it to the timeline of different users. For this, you have to pay a fee to Facebook.
The basis for knowing what an ad is or isn’t is based on the wording above the post. Above paid advertising is written in English as ‘sponsored’. Sponsored Facebook has to pay a specified amount in dollars. Many payments are made by relatives or agents abroad, while debit and credit cards with dollar cards. All cards are used to make payments from Nepal. Now it is easy for Nepali banks to issue prepaid cards up to $500.
Any financial transaction in the country requires permission from the National Bank. But so far, the amount to be paid for the advertisement has been paid using various gateways without informing any state body. So far, the state has not been informed about the payment for such advertisements on social media. There is a provision to pay tax after earning income. But no social network here pays tax to the Government of Nepal.
NRB Banned V-Chat and Ali Pay
Some time ago, NRB had said that V-Chat and Ali Pay would be banned in Nepal. These payment systems used by the Chinese for payment have been banned. And are now being introduced into the legal system. But the state has no information about the billions of transactions that take place through social media. The government does not even have data on how many dollars are flowing out of Nepal through social media.