10th November 2024, Kathmandu
Everest Bank Limited and NCHL agreed to enable cross-border QR payment in Nepal for Alipay+. The agreement was signed by Mr. Sudesh Khaling, Chief Executive Officer of Everest Bank, and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL.
Cross-Border QR Payments in Nepal
With this NEPALPAY and interoperable QR can be scanned by the users of the members of the Alipay+ network. Tourists traveling to Nepal from various countries including China, Hong Kong, Singapore, Malaysia, Indonesia, Philippines, Mongolia, Thailand, South Korea, Sweden, and Italy can use their domestic mobile payment or wallet to scan NEPALPAY QR including interoperable QR available across the country.
Alipay+ is a network aggregator with over 30 issuing instruments aggregated, more than 300 acquiring networks and service providers, and access to 90 million global merchants across 66 markets worldwide.
Alipay+ network supports payment from an array of e-wallets including Alipay China, OCBC, Changipay, Gcash, AlipayHK, Hipay, KakaoPay, TossPay, NaverPay, TnGD, PBB, TrueMoney, Mpay, Tinaba to provide a seamless cross border payment experience.
NCHL has made the necessary network-to-work arrangement with Alipay+ as its international payment partner to enable cross-border QR payments, after which Everest Bank has agreed with NCHL. NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National Payment Switch (NPS) that operates as a QR scheme and also facilitates interoperability of QR at issuing merchant, and network levels. It currently has over 850,000 QR merchants within its network including interoperable QRs.
Catering to more than 14 lacs customers, Everest Bank Limited (EBL) is one of the leading commercial banks in Nepal. The bank has now a total of 39,167 delivery channels with a network of 10,098 domestic branches, 2 International branches, 13,350 ATMs, and 15,719 business correspondents. Everest Bank has enrolled more than 23,000 merchants in NEPALPAY QR.
For more: Cross-Border QR Payments in Nepal