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Nepal bans China’s digital wallets WeChat Pay and Alipay

Nepal Rastra Bank, central bank of Nepal has issued a notice to ban the use of Alipay and WeChat in the country. As per the bank, the Chinese Payment platforms were not registered with the regulator in Nepal and operating illegally without licence.

Thousands of Chinese tourists who visit Nepal every year, use these platforms resulting in loss of foreign currency earnings. The bank said to take action against anyone, who is found using the platforms. (Source)

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