Nepal bans use of Chinese digital wallets over forex concernsChristian Fernsby ▼ |
Asia Nepal Rastra Bank
The central bank of Nepal has banned using Chinese digital wallets WeChat Pay and Alipay in the country, saying the Himalayan kingdom is incurring foreign income losses due to the illegal use of those payment applications by Chinese tourists in Nepal.
Nepal Rastra Bank (NRB), the central bank of Nepal, said both of these digital wallets are carried by most Chinese nationals visiting the Himalayan nation.
These payment applications are also used by Chinese nationals who operate hotels, restaurants and other businesses in the country. Thus, when Chinese visitors engage with businesses operated by Chinese nationals in Nepal, the payments are mostly done using these two Chinese digital wallets. ■
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