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Aya Lin · · 1 min readIn brief: Nepal’s central bank bans WeChat Pay, Alipay
- Nepal Rastra Bank has banned the use of WeChat Pay and Alipay in the country, The Himalayan Times reports.
- The bank said the country was losing foreign income as Chinese tourists make payments to Chinese vendors through WeChat Pay and Alipay, bypassing the Nepali financial system.
- This means the payments are made to China because the Chinese digital wallets are not registered in Nepal. The country then cannot register them as foreign income or enforce taxation.
- Tourist spending is the third largest source of foreign income for Nepal after worker remittance and merchandise exports.
Editing by Charmaine de Lazo
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