NIC Asia Bank has launched payment services to its merchants through WeChat Pay mobile wallet application. This would allow Chinese tourists in Nepal to make payments through the WeChat Pay app for the purchase of various products and services in the country.
WeChat is a Chinese multi-purpose messaging, social media, and mobile payment app developed by Tencent. First released in 2011, it became the world’s largest standalone mobile app in 2018, with over 1 billion monthly active users.
For this, the bank itself, First Pay Technology Pvt. Ltd. and the Chinese Swiftpass Company have signed a tripartite agreement, which was signed by Mr. Roshan Kumar Neupane, CEO of NIC Asia Bank; Mr. Biplav Joshi, Director of First Pay and Mr. Magic Tang, Vice President of SwiftPass.
Under the agreement, WeChat Pay mobile wallet users will be able to make digital payments by scanning QR codes at merchants associated with the bank.
NIC Asia Bank has made arrangements for merchants who want to receive payment through WeChat Pay to apply through the bank’s website NIC ASIA QR (Quick Response).
With 15,000 and more QR merchants all over the country, NIC Asia Bank aims to help make the country’s economy a cashless economy by contributing to the Government of Nepal’s “Digital Nepal Framework” campaign by making reliable transactions through digital media amid a significant increase in the number of smartphone users as well as the number of dignitaries doing digital business.
We hope this integration would set an example for other fellow institutions to serve their customers for a seamlessly convenient and secure payment system all over the country (and hopefully abroad too).