According to the press release, the partnership enables merchants associated with the bank to reach more Chinese guests by giving the opportunity to use their domestic payment method. The initiative comes as the pandemic has accelerated the digital payment trends, and retailers, hotels, and travel services in Nepal are adopting and integrating them, while working hard to attract more future Chinese travelers.
According to Ministry of Culture, Tourism & Civil Aviation of Nepal, there were 169,543 Chinese travelers visited Nepal in 2019, showing a growth of 10.4%. Chinese travelers account for 14.2% of arrivals by nationality, and has been the second largest source of tourists to Nepal.
Overall, besides the integrated payment gateway, Wallyt also has full experience and solutions to help the banks go digital. With 25,000 and more QR merchants all over the country, NIC ASIA Bank, FirstPay, and Wallyt will work together to offer more digital payment service to meet the requirement of local merchants and users, and help make the country’s economy a cashless economy.
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