Nepal Clearing House Limited (NCHL), a prominent operator driving the 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+.
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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 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.
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The launch will mark the dawn of cross-border QR-based payments enabling travelers from 10 countries and regions including the Chinese mainland, Hong Kong SAR China, Macao SAR China, Singapore, Malaysia, Philippines, Mongolia, Thailand, South Korea, 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).
Mr. Vishrut Thapa, Chairman, NCHL said: I am delighted to see one of the first QR payment linkage between Nepal and Alipay+ that has been rolled out within just six months since the MOU between both the partners was signed. This achievement is surely in line with the strategic plan of the Nepal Rastra Bank to enable our retail payment system for global payment linkages. It is also a testament to our close cooperation, commitment, and collaboration between NCHL and Ant International to create seamless cross-border payment connectivity.
Neelesh Man Singh Pradhan, Chief Executive Officer, NCHL, said: “This is the first-ever rollout announcement of cross-border payments for NEPALPAY QR and our interoperable QR. We are extremely delighted to showcase Nepal’s QR scheme and our retail payment system in the global arena. This partnership will help foster the tourism sector in Nepal and is also expected to enable seamless cross-border digital payments for travelers from various countries who choose Nepal as their preferred destination. This partnership between NCHL and Alipay+ for enabling merchant payments is a major milestone for both the entities for their commitment towards fostering global partnerships.”
Edward Yue, General Manager for Southeast Asia, Australia, and New Zealand, Ant International said: “Nepal stands to benefit from tourism growth, given a growing preference for more sustainable and unique experiences, and together with NCHL, we’re proud to support joint innovation to benefit both local businesses and global consumers. Standardized QR payments like NEPALPAY QR are a visionary development towards more vibrant and inclusive growth– and with tourism expected to grow even further in the coming year, we’re excited to support our partners and merchants in Nepal and around the world towards a new future of travel.”
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 an independent QR scheme and also facilitates interoperability of QR at issuing, merchant, and network levels. 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 traveling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
