NMB Bank signs contract with Tencent Holdings

NMB Bank sets precedence to become the sole bank in the country to sign an agreement with Chinese tech giant Tencent Holdings, developer of Chinese multi-purpose messaging, social media and mobile payment app: WeChat. With this partnership NMB Bank becomes the Tencent authorised partner to bring WeChat Pay Service in Nepal. “With over 1.17 billion active monthly users, WeChat has become one of the most impactful mobile products in the planet and we are pleased to be the first bank in Nepal to have a direct partnership with Tencent Holdings. NMB has been making rapid advances in changing the digital banking landscape in Nepal introducing products that add value and enhance customer experience. Chinese tourists undeniably are one of the top visitors to Nepal and providing them the convenience of their most preferred payment – WeChat in a foreign country not only eases the currency exchange issues they face but facilitates them to spend more in Nepal, aiding in increasing foreign currency reserve for the country. The introduction of WeChat simultaneously eases the hassle SME businesses face for settlement of accounts post conducting forex transaction, as the same is managed seamlessly by bank. We are certain that this partnership opens doors for many others to pursue options to better facilitate payment options for tourists visiting Nepal,” said the statement issued by the Bank.