Muktinath Bank enables cross-border payments via Alipay+

KATHMANDU: Muktinath Bikas Bank Limited has signed an agreement with Nepal Clearing House Limited (NCHL) to facilitate cross-border payments.

With this partnership, Nepal Pay QR and interoperable merchant QR under Muktinath Bank will now enable payments via the Alipay+ network in Nepal.

This service allows tourists from countries like China, Hong Kong, Singapore, Malaysia, Indonesia, the Philippines, Mongolia, Thailand, South Korea, Sweden, Italy, and others to make seamless payments in Nepal using their domestic wallets through Nepal Pay QR.

The bank believes this initiative will not only ease payment processes for foreign tourists by eliminating the hassle of carrying cash but also play a vital role in boosting Nepal’s economy and tourism sector.

To encourage digital transactions, the bank is offering special discounts on cash withdrawals from any bank under the connectIPS network.

In its push for digital innovation, the bank recently launched the “Muktinath Faida App,” allowing users to enjoy multiple benefits through one platform.

Additionally, Muktinath Bikas Bank is set to introduce Nepal’s first development bank-sponsored mutual fund, “Muktinath Mutual Fund,” starting from Dec 5.