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Nepal banned popular Chinese digital wallets Alipay and WeChat

Posted on:22 May 2019 11:42:12
Nepal banned popular Chinese digital wallets Alipay and WeChat
22 May 2019 Current Affairs: Nepal banned popular Chinese digital wallets Alipay and WeChat to prevent the loss of foreign currency earnings from tens of thousands of Chinese tourists. The reason cited is Nepal was losing out since the actual transactions took place in China.
Over 1,50,000 Chinese holidaymakers visited Nepal in 2018, many using digital wallets to pay in hotels, restaurants, and shops in tourist areas, especially in Chinese-run businesses. 

Nepal:
President: Bidhya Devi Bhandari
Prime Minister: KP Sharma Oli
Capital: Kathmandu
Currency: Nepalese rupee
 
Nepal banned popular Chinese digital wallets Alipay and WeChat to prevent the loss of foreign currency earnings from tens of thousands of Chinese tourists. The reason cited is Nepal was losing out since the actual transactions took place in China.
Over 1,50,000 Chinese holidaymakers visited Nepal in 2018, many using digital wallets to pay in hotels, restaurants, and shops in tourist areas, especially in Chinese-run businesses. 

Nepal:
President: Bidhya Devi Bhandari
Prime Minister: KP Sharma Oli
Capital: Kathmandu
Currency: Nepalese rupee
 

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