Alipay+, the cross-border mobile payment solution operated by Ant International, has significantly expanded its presence in Nepal by partnering with Himalayan Bank, a major local bank.
This collaboration introduces over ten new payment partners, enabling Alipay+ to be accepted at more than 25,000 merchants across the country.
The integration allows travelers from ten countries and regions to enjoy a seamless, cashless payment experience throughout Nepal by simply scanning the MOCO Unified QR Code.
Alipay, a longstanding partner catering to Chinese tourists since 2019, is now joined by additional payment apps including AlipayHK, Tinaba, MPay, MyPB by Public Bank Bhd, Hipay, GCash, Changi Pay, OCBC Digital, Naver Pay, Toss Pay, and TrueMoney.
Further expansions are planned, with more payment applications set to be incorporated in the coming months.
The Nepal Tourism Board reported an 8.3 percent increase in tourist arrivals in August 2024, totaling over 720,000 visitors in the first eight months of the year.
Concurrently, Alipay data revealed a threefold rise in transactions by Chinese tourists from January to August 2024 compared to the same period last year.
In addition to Chinese visitors, tourists from Thailand, South Korea, and Italy remain among the top inbound demographics to Nepal.
Himalayan Bank’s extensive network of merchants accepting the MOCO Unified QR Code spans various sectors, including retail, food and beverage, and tourist attractions.
This widespread acceptance ensures that users of Alipay+ payment partners can easily conduct transactions regardless of their activities in Nepal.
FOCUSONE Payment Solutions Pvt. Ltd., a Nepalese fintech firm, facilitates the QR payment services for Himalayan Bank and other acquiring banks.
The MOCO Unified QR Code, introduced by FOCUSONE, is Nepal’s first cross-border, cross-currency unified QR payment option, supporting Alipay since 2019.
In May 2024, Alipay+ and Nepal Clearing House Limited formalized their partnership through a Memorandum of Understanding, enabling Alipay+ payment partners to operate via NEPALPAY QR.
This move is expected to further streamline payment processes for both consumers and merchants.
Since its inception in 2020, Alipay+ has connected over 90 million merchants in 66 countries and regions to 1.6 billion consumer accounts across more than 30 e-wallets and banking apps.
This extensive network facilitates hassle-free global payments for consumers and provides merchants with opportunities to engage cross-border consumers and enhance their digital marketing efforts.
