Wechat and Alipay Applied To Operate legally in Nepal

Nepal bans Alipay, WeChat Pay
Share It On:

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.


Share It On:

Recent Posts

Vivo Y19s Launched in Nepal: Stylish Design, 50MP Camera, and Long-Lasting Battery at an Affordable Price

Vivo Y19s Launched in Nepal: Stylish Design, 50MP Camera, and

Share It On:10th November 2024, Kathmandu vivo, a world-renowned technology brand, today announced the launch of its latest masterpiece in

Inter-Bank Futsal Tournament Nepal 2024: Global IME Bank Shines as Champion

Inter-Bank Futsal Tournament Nepal 2024: Global IME Bank Shines as

Share It On:10th November 2024, Kathmandu Global IME Bank showcased their football prowess by clinching the title in the first-ever

NRB Intensifies Liquidity Control Measures: Drains Additional NPR 50 Billion

NRB Intensifies Liquidity Control Measures: Drains Additional NPR 50 Billion

Share It On:10th November 2024, Kathmandu Nepal Rastra Bank (NRB) will withdraw NPR 50 billion from the banking system today

Nepal’s Sluggish Credit Growth: Interest Rate Cuts Fail to Stimulate

Nepal’s Sluggish Credit Growth: Interest Rate Cuts Fail to Stimulate

Share It On:10th November 2024, Kathmandu The ongoing economic slowdown has impacted the investment in loans, directly affecting interest rates.

CIB Alerts Bank Customers of Increased Cyber Threats and Fraud Risks

CIB Alerts Bank Customers of Increased Cyber Threats and Fraud

Share It On:10th November 2024, Kathmandu The Central Investigation Bureau (CIB) of Nepal Police has issued a warning to the

Dynamic Technosoft Wins ASOCIO EdTech Award 2024: A Milestone For Nepal’s IT Industry

Dynamic Technosoft Wins ASOCIO EdTech Award 2024: A Milestone For

Share It On:10th November 2024, Kathmandu In a monumental achievement for Nepal’s tech sector, Dynamic Technosoft Pvt. Ltd., a leading