MBBL enables cross-border payments with AliPay+ in Nepal

KATHMANDU: Mahalaxmi Bikas Bank Limited (MBBL) has signed a Memorandum of Understanding (MoU) with Nepal Clearing House Ltd (NCHL) to enable payments in Nepal through AliPay+ integration.

This allows various regional and international mobile wallets, banking apps, and digital payment services to be used for transactions within Nepal.

Mahalaxmi Bikas Bank is the first development bank in Nepal to make such an agreement.

The MoU was signed on 2081/07/28 (Nov 13, 2024).

Under this partnership, tourists visiting Nepal from countries such as China, Hong Kong, Macau, Singapore, Malaysia, the Philippines, Mongolia, Thailand, South Korea, and Italy can make convenient QR payments by using their digital wallets within the AliPay+ network at designated Mahalaxmi Bikas Bank QR points.

The initiative aims to support Nepal’s economic and tourism growth and aligns with Nepal’s national Digital Nepal initiative, which is backed by the government and Nepal Rastra Bank (NRB).

Previously, Mahalaxmi Bikas Bank and NCHL signed an MoU to facilitate cross-border payment transactions between Nepal and India.

The bank remains committed to innovative digital payments and plans to expand cross-border QR payments through its extensive branch network and merchant network across Nepal.