According to reports in foreign media, Chinese payment service provider WeChat Pay recently gained electronic payment service operation approval in Nepal.
It is said that Nepal Rastra Bank, the central bank of Nepal, recently granted the approval to WeChat Pay. At the same time, Nepal Rastra Bank announced to allow its first commercial bank NMB Bank to provide transaction settlement service via WeChat Pay in Nepal.
Rewati Nepal, executive director and head of payment system division of Nepal Rastra Bank, confirmed the news. However, he pointed out that due to some technical reasons, WeChat Pay had not started providing the service yet.
Nepal said that another Chinese payment service provider Alipay was applying the license to operate business in Nepal. Once the technical problems were solved, they would allow Alipay to launch service as well.