Alipay and WeChat Pay have got permission from Nepal's central bank - South Asia Time

Alipay and WeChat Pay have got permission from Nepal’s central bank

 March 2, 2020  

KATHMANDU: China’s two leading digital payment platforms Alipay and WeChat Pay have got permission from Nepal’s central bank to start electronic payment service in the country this month, a senior official of Nepal’s central bank said on Saturday (Feb 29).

“Alipay was authorised to conduct business in Nepal last week,” Gunakar Bhatta, spokesperson at the Nepal Rastra Bank told Xinhua during a special interview.

The WeChat Pay had got permission early this month.”

The Nepali central bank has authorised Himalayan Bank, a commercial bank, to provide settlement services of the transactions conducted through Alipay in Nepal.

NMB Bank, another Nepali commercial bank, has got approval from the central bank to provide settlement services for the transactions made through WeChat Pay.

After the commercial banks prepare necessary infrastructure, payments through the two Chinese payment service providers can be made legally, the central bank official said.

In 2019, Nepal received a total of 169,543 Chinese tourists, second largest after India, according to Nepal’s Department of Immigration. – Xinhua/Asian NEws