Alipay+ mobile payment partnerusers can now scan and paywith interoperable NEPALPAY QR while visiting Nepal

BFIS News
2024 Nov Fri 10:44

Alipay+ mobile payment partnerusers can now scan and paywith interoperable NEPALPAY QR while visiting Nepal

More than 875,000 merchants in Nepal can seamlessly accept cross-border mobile payments from travelers from Asia and beyond

SINGAPORE / KATHMANDU, NEPAL, 8 November 2024 – Nepal Clearing House Limited (NCHL), prominent operator driving majority of the digital payment systems in Nepal, and Ant International, a digital payment and financial technology leader, have jointly announced the launch of cross-border payments between NEPALPAY QR and Alipay+.The launch was announced at the global premier financial services platform, Singapore Fintech Festival 2024 by Mr. Edward Yue, General Manager of Southeast Asia, Australia and New Zealand,Ant International, and Mr.Neelesh Man Singh Pradhan, CEO of NCHL, in the presence of Mr. Vishrut Thapa, Chairman of NCHL, Mr. Douglas Feagin, President of Ant International, other representatives of both the organizations and various global dignitaries, delegates and attendees.

The launch will mark the dawn of cross-border QR basedpayments enabling the travelers from 10countries and regionsincludingthe Chinese mainland, Hong Kong SAR China, Macao SAR China, Singapore, Malaysia, Philippines, Mongolia, Thailand, South Korea, and Italy to use their home payment app, including leading e-wallets and bank apps, to pay at more than 875,000 merchants associated with interoperable NEPALPAY QR network in Nepal.Alipay+ will enable its following partners for use in Nepal via NEPALPAY QR for a seamless cross-border payment experience: Alipay (Chinese mainland) AlipayHK (Hong Kong SAR), Tinaba (Italy), MPay (Macao SAR), Touch ‘n Go eWallet and MyPB by Public Bank Berhad (Malaysia), Hipay (Mongolia), GCash (the Philippines), Changi Pay and OCBC Digital (Singapore), Naver Pay and Toss Pay (South Korea), and TrueMoney (Thailand). The launch follows a Memorandum of Understanding signed between NCHL and Ant International in May 2024.

About Nepal Clearing House

Nepal Clearing House Ltd. (NCHL) is a public limited company promoted by Nepal Rastra Bank and Banks & Financial Institutions of Nepal and has the objective to implement and operate multiple national payment systems. NCHL has been providing digital payment infrastructure services including electronic cheque clearing (ECC), interbank payment system (IPS), retail payment switch (RPS), connectRTGS, National Payments Interface (Open API platform), connectIPS (faster payment system& gateway) and CORPORATEPAY (B2B payment channel).

About NEPALPAY QR

NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National Payment Switch (NPS) that operates as independent QR scheme and also facilitates interoperability of QR at issuing, merchant and network level. The network has access to more than 875,000 lakh merchants through NEPALPAY QR and it interoperable QR scheme with scan & pay available from over 40 mobile banking apps, 11 wallet apps and connectIPS.

About Ant International

Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.

About Alipay+

Alipay+ is a suite of cross-border mobile payment and digitalization technology solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.

For details please visit www.nchl.com.np and www.antglobal.com