Mahalaxmi Bikas Bank collaborates with Alipay+ and NCHL for cross-border QR payments

KATHMANDU:Mahalaxmi Bikas Bank and Nepal Clearing House have signed a memorandum of understanding to enable payments in Nepal via various regional and worldwide mobile wallets, banking apps, and other digital payments that are connected with Alipay Plus.

Mahalaxmi Bikas Bank is the first of Nepal's development banks to enter into such an agreement. The memorandum of intent was signed on November 13th, during a program.

Tourists visiting Nepal from China, Hong Kong, Macao, Singapore, Malaysia, the Philippines, Mongolia, Thailand, South Korea, and Italy can now make QR payments at Mahalaxmi Bikas Bank using various digital payment methods linked to the Alipay Plus network.

The bank believes that such activities will benefit Nepal's economic and tourism development, as well as the Digital Nepal initiative, which has been approved by both the Nepal Rastra Bank and the Government of Nepal.

Even before that, this bank and Nepal Clearing House (NCHL) inked a memorandum of understanding to facilitate international transaction payments between Nepal and India. The bank is constantly committed to the most recent use of digital payment techniques and believes it will become a top service provider in international QR payments through its branch and merchant network throughout Nepal.

For the past 30 years, this bank has been bringing quality financial services at Nepali people's doorsteps under the slogan "Sabal Bank Safal Sahakarya ".