Kathmandu, 8th February
International digital payment company WeChat has been allowed to conduct business in Nepal. Nepal Rastra Bank said that NMB Bank has acquired WeChat to conduct business in Nepal through the platform.
WeChat is the most widely used digital payment system in China and now in Nepal, we will be able to use WeChat through NMB Bank’s collaboration.
According to Revati Nepal, head of the payment department of Nepal Rastra Bank, WeChat had obtained permission for the business a month ago. He said that the transaction information was not received till now, even with permission being granted a month ago. Meanwhile, NMB Bank said the business has not started yet due to the internal process. According to a source of the bank, the related processes and discussions have been halted due to the latest outbreak of the Corona virus in China.
The bank has said that it will facilitate the tourists, especially those coming from China to Nepal as soon as the platform comes into operation. In the first phase, the bank said that it would facilitate the sale of payments to hotels and shopping malls.
Along with this, it has also become the first company to obtain digital payment permits in Nepal. That is why Rastra Bank had earlier said that the digital payment business is being done in Nepal by various companies.
At the same time, the transaction was closed after the Rastriya Bank asked for the transactions to be halted. But now, WeChat has got legal recognition for digital payments in Nepal.
