Everest Bank and NCHL agreement for cross-border payments

KATHMANDU:Everest Bank and Nepal Clearing House have agreed to use the bank's NepalPay Merchant QR code through member wallets in the Alipay Plus network to make cross-border payments and join NCHL's cross-border payment system.

The CEO of the bank, Sudesh Khaling, and the CEO of NCHL, Nileshman Singh Pradhan, signed the deal. Ant International and NCHL inked an agreement a while back for NCHL to become an international payment partner and launch payment services on TPM Merchant QR.

The agreement states that all required preparations will be made to enable payments on merchant QRs of NepalPay QRs in Nepal via the Alipay Plus network. The payment service will now be implemented after an agreement with Everest Bank was finalized. After the deal, tourists from China, Hong Kong, Singapore, Malaysia, Indonesia, the Philippines, Mongolia, Thailand, South Korea, Sweden, and Italy would be able to pay with NepalPay QR codes with ease.