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AliPay Gets License Of Payment System in Nepal

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Kathmandu:  A China-based payment service provider,  Alipay has got permission to operate as an electronic payment service in Nepal.

The Chinese digital payment platforms ‘Alipay’ had applied to Nepal Rastra Bank (NRB) to legally operate in Nepal. Earlier NRB had granted permission to ‘WeChat‘ Pay to conduct business in Nepal.

Executive director and Head of Payment Systems Department of NRB, Revati Prasad Nepal stated the central bank has authorised Himalayan Bank to provide the settlement services of transactions made through Alipay in Nepal. He informed that NRB has authorized Alipay to proceed with the business in Nepal, the settlement partner, Himalayan Bank is yet to set up the proper infrastructure for the services.

WeChat Pay and Alipay are especially prevalent among Chinese tourists. It is used earlier too to pay for activities in the hospitality sector in Nepal.

Source: THT