Alipay+, the cross-border mobile payment and digitalisation solutions operated by Ant International, has enabled more than 10 additional payment partners to be accepted in Nepal by collaborating with local acquiring partner Himalayan Bank.
Alipay+ will be accepted at more than 25,000 local merchants, allowing travellers from 10 countries and regions to enjoy a convenient and cashless experience as they travel across Nepal simply by scanning the MOCO Unified QR Code. Alipay - an Alipay+ partner - for Chinese travellers, has been available since 2019.
As of September 2024, 12 Alipay+ partner payment apps are accepted in Nepal: Alipay (Chinese mainland), AlipayHK (Hong Kong SAR), Tinaba (Italy), MPay (Macao SAR), 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). More payment apps will be progressively added.
Mr. Binod Raj Acharya, Executive Director, Payment Systems Department, Nepal Rastra Bank, said: “I believe this partnership between MOCO and Alipay+ marks another significant milestone in Nepal's digital payment sector. This service will enable seamless and secure payments for both national and international customers, making transactions easier, more convenient and secure. As the regulator, Nepal Rastra Bank (NRB) is committed to working collaboratively to address challenges, always prioritising consumer service above all.”
According to the Nepal Tourism Board, tourist arrivals saw an 8.3% increase in August 2024, with over 720,000 visitors in the first eight months of the year. Data from Alipay, an Alipay+ partner, indicates a threefold increase in transactions by Chinese tourists between January to August 2024, compared to the same period last year. Additionally, Chinese travellers from Thailand, South Korea and Italy are among the top inbound visitors to Nepal.
Mr. Sittipong Kittiprapapong, Country Manager for Thailand, South Asia & Indochina, Ant International, “We’re incredibly excited to bring Alipay+ to Nepal, to make it easier for travellers to be able to go around and pay with just their phones, as they explore the natural wonders of Nepal and all its diverse culture, people and food. Through our partnership with Himalayan Bank and MOCO Unified QR Code, we want to enable local businesses to benefit from tourism growth and we’re committed to continually enhancing the travel experience and increasing merchant visibility.”
Himalayan Bank merchants accepting the MOCO Unified QR Code include a wide range of travel scenarios including retail, F&B and attractions, ensuring ease of travel for users of Alipay+ payment partners, no matter what they choose to do in Nepal. FOCUSONE Payment Solutions Pvt. Ltd., a FinTech company in Nepal, facilitates QR payment service for Himalayan Bank and other acquiring banks in Nepal. FOCUSONE’s product, MOCO Unified QR Code is Nepal’s first cross-border, cross currency unified QR payment option that has been accepting payments from Alipay since 2019.
Mr. Ashok SJB Rana, CEO of Himalayan Bank, said: “Himalayan Bank has laid the foundation for the largest cross-border transaction network in Nepal. Since integrating Alipay in 2019, we have had the opportunity to engage Chinese travellers, and now partnering with Alipay+, we can integrate multiple e-wallets and banking apps, enhancing the scope of cross-border payments and simplifying payments for inbound travellers and more than 25,000 merchants who accept the MOCO Unified QR. We express our full commitment to supporting seamless payments in Nepal through MOCO Unified QR and Alipay+.”
In addition to Himalayan Bank’s merchants, Alipay+ will gradually expand to more merchants through its local partners. In May 2024, Alipay+ and Nepal Clearing House Limited signed a Memorandum of Understanding to enable Alipay+ payment partners to be accepted through NEPALPAY QR.
Introduced by Ant International in 2020, Alipay+ now connects over 90 million merchants in 66 countries and regions to 1.6 billion consumer accounts across over 30 e-wallets and bank apps, allowing consumers to travel and pay hassle-free globally, and merchants to expand cross-border consumer engagement and digital marketing.