Ant International teams up with Himalayan Bank

When commenting on the partnership, representatives underlined that the alliance between MOCO and Alipay+ supports the advancement of Nepal’s digital payment sector, with the service allowing simplified and secure transactions for both national and international customers. As a regulator, Nepal Rastra Bank (NRB) expressed its commitment to working collaboratively to address the complexities currently present in the market while prioritising consumer service and experience.

Moreover, the decision to introduce Alipay+ services in Nepal can be attributed to an expansion in tourism, with data from Alipay indicating a threefold increase in transactions by Chinese tourists between January and August 2024, compared to the same period of 2023. Other than Chinese travelers, those from Thailand, South Korea, and Italy are among the top inbound visitors to Nepal. According to Ant International’s officials, by teaming up with Himalayan Bank and MOCO Unified QR Code, the company plans to allow local businesses to benefit from tourism growth. Additionally, the company highlighted its commitment to continually augmenting the travel experience and increasing merchant visibility.

Merchants of Himalayan Bank accepting the MOCO Unified QR Code include a range of travel scenarios such as retail, food and beverage, and attractions, which ensures an optimised travel experience for users of Alipay+ payment partners, regardless of what they choose to do in Nepal. Besides Himalayan Bank’s merchants, Alipay+ intends to progressively expand to more businesses via its local partners, with the company signing a Memorandum of Understanding with Nepal Clearing House Limited in May 2024 to allow its payment partners to be accepted through NEPALPAY QR.