Digital payment platforms Wechat and Alipay have applied with the Nepal Rastra Bank (NRB) to legally operate in Nepal.
Chief of the foreign exchange department at the central bank Sarita Bhatta said the two companies have sought permission for legal operation in Nepal. “WeChat, Alipay and UniPay have sought permission for digital transactions. We are studying the application and system now,” Bhatta told Setopati.
The NRB earlier had issued a public notice stating that no digital payment platform can operate without permission after reports that hotels, restaurants, guest houses and travel agencies operating in tourist hubs like Thamel, Basantapur and Pokhara were accepting payments through WeChat and Alipay.
The two Chinese companies have applied for registration after that notice.
“NRB should have accurate details of the digital transactions,” she stated. “WeChat, Alipay and UniPay will become legal after getting permission.”
The Chinese Embassy in Nepal had said that such digital platforms should be made legal instead of banning them after the NRB notice.
Transactions after these digital platforms become legal will have contribution in remittance while transactions by entrepreneurs will also contribute to revenues.