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Nepal bans using Chinese Digital Wallets over Forex concerns

The Central Bank of Nepal banned the use of Chinese digital wallets-WeChat Pay & Alipay that are immensely popular mobile payment applications in China. It is incurring foreign income losses due to the illegal use of those payment applications by Chinese tourists in Nepal. When Chinese visitors engage in businesses operated by Chinese nationals in Nepal, the payments are mostly done using these 2 Chinese digital wallets.