14th October 2024, Kathmandu
Himalayan Bank has partnered with Ant International to expand Alipay+ in Nepal, providing seamless, cashless payment options for tourists from across the globe.
Himalayan Bank Partners Alipay+
Alipay+, a cross-border mobile payment and digitalization solution, is now accepted by over 25,000 local merchants in Nepal, further enhancing the country’s digital payment landscape.
Alipay+ Expands Payment Reach in Nepal
The collaboration between Himalayan Bank and Ant International enables over 12 Alipay+ partner payment apps to be accepted in Nepal as of September 2024. This integration simplifies the payment process for travelers from countries including China, South Korea, Thailand, Italy, Malaysia, and more. Tourists can now enjoy a hassle-free, cashless experience simply by scanning the MOCO Unified QR Code at participating merchants.
Since Alipay’s launch in Nepal in 2019, it has allowed Chinese travelers to make secure payments, and now, with the addition of more e-wallets, tourists from other nations can easily engage in cross-border transactions. This partnership signifies a leap in Nepal’s commitment to digital transformation in the tourism and retail sectors.
Alipay+ Enhancing Tourism and Commerce
Nepal has seen impressive tourism growth, with an 8.3% increase in tourist arrivals in August 2024, according to the Nepal Tourism Board. In the first eight months of 2024 alone, the country welcomed over 720,000 visitors, with Chinese tourists leading the pack, having tripled their transactions via Alipay from January to August compared to the previous year. Additionally, tourists from countries like Thailand, South Korea, and Italy are also major contributors to the booming tourism industry.
By introducing Alipay+, Nepal is positioning itself as a more convenient destination for international travelers, allowing them to explore the country’s rich cultural heritage, natural beauty, and attractions without worrying about cash exchanges. The unified QR code system further simplifies transactions, making it easy for visitors to pay using their preferred mobile wallets.
Expanding Merchant Network
As the country’s first cross-border, cross-currency unified QR payment system, the MOCO Unified QR Code is already accepted at various retail, food, and beverage (F&B) outlets and tourist attractions. Focusone Payment Solutions Pvt. Ltd., a Nepalese fintech company, facilitates this QR payment service in partnership with Himalayan Bank. Focusone’s innovative solution allows multiple e-wallets and banking apps to work seamlessly through a unified payment network.
According to Ashok SJB Rana, CEO of Himalayan Bank, the partnership with Alipay+ builds on the bank’s foundation of engaging Chinese tourists since 2019. With the expanded network, local businesses are now set to benefit from greater tourism revenue as they attract more international consumers.
A New Era for Nepal’s Digital Payment Landscape
This partnership also aligns with Nepal Rastra Bank’s mission to enhance secure and convenient payment systems across the country. Binod Raj Acharya, Executive Director of Payment Systems at Nepal Rastra Bank, emphasized the importance of this collaboration in creating a more secure and efficient payment infrastructure for both locals and tourists. He believes that this partnership marks a significant milestone in Nepal’s digital payment journey.
Looking Ahead: The Future of Alipay+ in Nepal
The Alipay+ network is expected to continue expanding across Nepal through Himalayan Bank’s merchants and other local partners. Additionally, a Memorandum of Understanding (MoU) signed in May 2024 between Alipay+ and Nepal Clearing House Limited will further extend payment options by integrating NEPALPAY QR for greater consumer convenience.
Since its introduction in 2020, Alipay+ has connected over 90 million merchants in 66 countries, offering 1.6 billion consumers access to over 30 e-wallets and banking apps. By partnering with Himalayan Bank, Alipay+ is set to reshape the payment landscape in Nepal, boosting tourism and empowering merchants to engage with international consumers.
Conclusion
As Nepal continues to evolve as a top tourist destination, the Himalayan Bank-Alipay+ partnership will play a pivotal role in enhancing the country’s cashless economy, providing seamless digital payments for tourists, and boosting merchant visibility. Whether exploring the bustling streets of Kathmandu or the serene landscapes of Pokhara, travelers can now enjoy a truly cashless experience in Nepal.
Discover the convenience of Alipay+ today and explore Nepal with ease!
For more: Himalayan Bank Partners Alipay+