Though we are still lagging behind in the regulation and promotion of such apps, it seems the cashless payment is nowhere stopping. Similarly, we shall not overlook the impact of these apps on the economy. But though we consider the world as a global village, the impact of payments giants to local companies. With the proliferation of Nepali digital wallets or payment providers, Nepal should promote the use of its own digital wallets. Using these ways, the money paid through Chinese apps can be considered as foreign income. As the market is quite small, they can also find some intermediary agents for the Chinese payment companies in Nepal. One simple solution for these apps to work legally is by registering here in Nepal. The way outĪlthough they are not made illegal now, there has to be some solution to resolve this issue. So, if there is any complain of such apps usage to the authorities, they will investigate and charge of the crime if found. They have not asked any telecom and ISPs to block the transaction from these apps. As you can see, both payment systems are very similar: both offer online and offline payment, both charge a small commission to the. The merchant fee is similar (although slightly lower) to that of WeChat Pay: Alipay charges 0.55. The NRB authorities have only termed the payment as illegal. That is, WeChat Pay brings you closer to more users, AliPay brings you closer to a larger number of buyers. Well, the question remains if the Wechat pay and Alipay will stop working here in Nepal. Will Wechat and Alipay stop working in Nepal? Nepal, being a tourism-oriented country should have an impact on the economy of the country, by tourists spending. So, the tourists spending (if happen from such payment) has no impact on the income of the country. Rising small players include Gopay, Yeepay, 99bill, and more. The government has been supporting the growth of smaller online payment platforms by partially protecting them from giant players. The main point for their argument is that these Chinese applications are not registered here in Nepal. The Chinese government is interrupting Alipay and WeChat Pay’s dominance, aiming to increase competition in the mobile payment market. They even made a follow up to the authorities for the possible impact and questioned the legitimacy of such payments. Several media like THT, Bizmandu, etc posted the news about the usage of Wechat and Alipay in Nepal by Chinese restaurants and shop keepers. It is not only Chinese nationals but other foreign nationals also use foreign payment system through QR code, POS machine. Citing this to have harmed the revenue out of the tax, NRB, the central bank has made such payment illegal. Similarly, the authorities cannot even charge the tax for such payment, which is not trackable.
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