Current Affairs - International - Discussion

Nepal Rastra Bank, the central bank of Nepal, banned the use of Chinese digital wallets Alipay and WeChat Pay. This is done to prevent the loss of foreign currency earnings through its usage. The apps WeChat Pay and Alipay are operated by Tencent Holdings and Alibaba Group Holding's Ant Financial Services Group affiliate respectively. They had failed to secure licenses to operate in the country. Nepal has witnessed more Chinese tourists and they use these apps for payments.