October 12, 2020 | Investopaper
NMB Bank has entered into an agreement with Chinese company Tencent Holdings Limited. According to the agreement, Chinese tourists visiting Nepal can easily pay for goods and services purchased in Nepal through the company’s Wechat Pay, as informed by the bank.
Wechat has more than 1.17 billion active monthly users. NMB Bank has become the first bank in Nepal to partner directly with Tencent Holdings to operate one of the world’s most effective payment system services, as stated by the bank in the statement. The bank is confident that the agreement will also help increase the country’s foreign exchange reserves.