Everest Bank and NCHL signed an agreement to enable cross-border NEPALPAY QR payments from Alipay+
KATHMANDU
Everest Bank Limited, and NCHL entered into an agreement to enable cross-border QR payment in Nepal for Alipay+. The agreement was signed by Mr. Sudesh Khaling, Chief Executive Officer of Everest Bank, and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL.
With this NEPALPAY and interoperable QR, it can be scanned by the users of the members of the Alipay+ network. The tourists traveling to Nepal from various countries, including China, Hong Kong, Singapore, Malaysia, Indonesia, the Philippines, Mongolia, Thailand, South Korea, Sweden, and Italy, can use their domestic mobile payment or wallet to scan NEPALPAY QRs, including interoperable QRs available across the country.
Alipay+ is a network aggregator with over 30 issuing instruments aggregated, more than 300 acquiring networks and service providers, and access to 90 million global merchants across 66 markets worldwide. The Alipay+ network supports the payment from an array of e-wallets, including Alipay China, OCBC, Changipay, Gcash, AlipayHK, Hipay, KakaoPay, TossPay, NaverPay, TnGD, PBB, TrueMoney, Mpay, and Tinaba, to provide a seamless cross-border payment experience.
NCHL has made the necessary network-to-network arrangement with Alipay+ as its international payment partner to enable cross-border QR payments, subsequent to which Everest Bank has entered into the agreement with NCHL. NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National Payment Switch (NPS) that operates as QR scheme and also facilitates interoperability of QR at issuing, merchant, and network level. It currently has over 850,000 QR merchants within its network, including interoperable QRs.
