UnionPay local e-wallet brings a safe mobile payment experience to Nepalese residents (Advertorial)
June 12, 2019 03:36 PM NPT
UnionPay cards will achieve full coverage in Nepal this year and more than 20,000 merchants will accept UnionPay QR codes
In Nepal, UnionPay QR code payment has become a new trend. China has become the largest source of tourists in Nepal, under this background, more and more local merchants welcome Chinese tourists by supporting UnionPay QR code which favored by Chinese consumers. More and more local UnionPay cardholders are also beginning to enjoy the convenience brought by UnionPay QR code in daily consumption and cross-border payment.
Now, thousands of Nepalese merchants, including KFC, Pizza Hut and The North Face have supported the UnionPay QR code. UnionPay International (UPI) through cooperation with local major financial institutions such as eSewa, Qpay, Nabil Bank, Siddhartha Bank and Himalayan Bank will have more than 20,000 local merchants who will accept the UnionPay QR code covering F&B, supermarket and transportation etc.
Recently, many merchants in Nepal have launched the UnionPay QR code offer in terms of food and beverage. Before July 31, you can enjoy a discount of 1,000 Nepalese rupees minus 200 Nepalese rupees in 200 local restaurants; in terms of attractions, you can enjoy a discount of 750 Nepalese rupees minus 150 Nepalese rupees for the purchase of Whoopeeland tickets similarly from June 1st 2019 more than 1,000 merchants offer different levels of reduction (1000/500 reductions 200/100) all over Kathmandu, Pokhara and other major cities of the country.
While facilitating the visiting UnionPay QR code users, UPI is also actively expanding the service target of UnionPay QR code to local residents. UnionPay became the first international card brand to launch an e-wallet in Nepal. Previously nearly half of the SCT's member banks have issued UnionPay chip cards. Cardholders can experience the UnionPay QR code by binding these cards to the local e-wallet QPAY developed by SCT and UPI based on the UnionPay QR code standard. Qpay brings users a secure mobile payment experience.
The reasons why UnionPay QR code is welcomed by cardholders and merchants， first of all, it can realize cross-border interconnection. Secondly, UnionPay QR code products comply with the international EMV standard and adopt the payment tokenization technology, which has a high security level. Third, UnionPay products are fully legal and compliant, in line with local regulatory policies. UnionPay has legal cross-border payment clearing qualifications since entry into Nepal in 2010.
UnionPay is expected to reach 100% merchant acceptance in this year. At the official website of Budhha Airlines, Ncell Telecom and other well-known merchants, UnionPay cardholders will enjoy the convenience of Online Payment too.