NCHL enables smooth QR payments for travelers from ten nations

With the introduction of international digital transactions by Nepal Clearing House Limited (NCHL), a division of Nepal Rastra Bank approved for payment system operations and electronic transaction settlement in Nepal, visitors from other nations can now use QR (Quick Response) Codes to make payments in Nepal.

International online payments have been made possible by the Nepal Rastra Bank (NRB), and NCHL, a public limited company founded in 2008 under the direction and control of NRB, has made agreements with a number of foreign retailers. As a result, people in ten different countries can now pay directly to Nepal via online platforms.

In the past, only SWIFT and ATM cards were used for international transactions and payments. Customers can now manage transactions on their own thanks to the launch of this new system, which enables international QR payments under the “People to Merchant (P2M)” paradigm. Every transaction done by international visitors will be integrated into the banking system with the aid of this system.

Through this method, inhabitants of a number of Central Asian, Southeast Asian, European, and African nations can use QR codes to pay for goods and services in Nepal. The ‘Nepal Pay’ QR code can currently be used to make payments by foreign users of 14 e-wallets and mobile banking apps. Travelers from China, Macau, Hong Kong, Italy, Malaysia, the Philippines, Mongolia, Singapore, South Korea, and Thailand can now use this facility.

NCHL is attempting to progressively open this facility to international citizens.

According to NCHL, travelers no longer need to bring cash when they travel to Nepal.

Travelers can currently use Alipay from China, Alipay Hong Kong, MPay from Macau, and Tinaba Bank wallet from Italy to make direct QR payments in Nepal. Two Malaysian wallets, Touch ‘n Go e-Wallet and MyPB, which are marketed by Public Bank Berhad, are also available for merchants to take payments.

Customers can also use GCash from the Philippines, HiPay from Mongolia, and two wallets from Singapore called Changi Pay and OSBC Digital to make direct QR payments in Nepal.

In a similar vein, consumers can now utilize KakaoPay, Naver Pay, and Toss Pay from South Korea to make direct payments in Nepal. Additionally, they can use Thailand’s TrueMoney to make payments online.

Both visitors and business owners will profit from this amenity. Payments from overseas clients are simple for merchants to accept. Foreigners can buy anything they want at any time as payments become easier, which should increase sales.

Additionally, currency exchange will be made simpler for foreign visitors by eliminating the need to carry or exchange significant sums of foreign cash. They can use their nation’s mobile banking app or e-wallet to make payments in Nepal.

The central bank and the government anticipate that this endeavor will simplify financial integration, which will help Nepal’s economy and tourism alike.

Simplifying the payment method will drive tourism expenditures into the financial system, which will boost the economy, according to a Nepal Tourism Board (NTB) official. “At the moment, the system does not record every tourist expense. “This system records them, but when tourists pay with cash, the actual spending is not tracked,” he stated. Additionally, he said that simpler internet payments will boost traveler spending.

Nepal has seen a rise in tourism in recent years. It is well-known as a destination for nature and adventure tourism, which includes hiking and high mountain climbing. Nepal’s natural beauty and wilderness, historical landmarks, distinctive art, legacy, and culture—including UNESCO World legacy sites like Pashupatinath, Swayambhunath, Basantapur Durbar Square, and Baudhanath Stupa—draw thousands of foreign visitors each year.

A major factor in the nation’s economic recovery has been the tourist sector. 1.15 million foreign visitors came to Nepal in 2024. Compared to 2023, when 1.015 million international visitors came to Nepal, this is a more than 14% increase in visitor arrivals.

India is the country that sends the most tourists to Nepal, according to the NTB.

318,000 Indian visitors visited Nepal in 2024. According to the NTB, the United States, the second-largest source nation, sent 111,000 visitors, followed by China (101,000), the United Kingdom (57,000), Bangladesh (48,000), Australia (43,000), Thailand (30000), Sri Lanka (30000), Germany (29,000), and South Korea (27,000).

Since more than 220 nations send tourists to Nepal, NCHL is working hard to broaden the reach of this payment facilitation.

It is anticipated that this partnership will greatly advance Nepal’s transition to a cashless economy while also transforming and maintaining global digital trends. According to the NTB, facilitating payments for foreign nationals from all nations will boost the economy even more.

For cross-border financial transactions between Nepal and India, the central bank had already permitted the use of QR codes and associated payment instruments through the Retail Payment Switch in June 2024. However, a problem with commissions levied by Nepali banks has caused a delay in the implementation of the scan and pay system for cross-border travelers of two countries, which was supposed to be online last December.