Mumbai – Pranay Rajbhandari, co-founder and Chief Executive Officer of Focus One Solutions and Moco Digital Wallet, stated that the agreement with Mastercard will help promote tourism in Nepal. Rajbhandari made this comment while speaking to Banking News at the Global Fintech Festival, which took place from August 28 to 30 in Mumbai, India.

During the three-day festival, Moco Digital signed a tripartite agreement with Mastercard India and the Nepal Tourism Board. According to the agreement, Indian Mastercard users will be able to make payments using Moco Digital’s QR code when visiting Nepal. Following the agreement, Rajbhandari told Banking News that this partnership would boost tourism in Nepal.

“The use of QR payments has increased in Nepal. People are increasingly using QR,” Rajbhandari said. “However, it was mostly used within the country. But with the agreement with Mastercard India, Indian Mastercard users will now be able to pay via QR in Nepal.”

Moco Digital Wallet noted that this agreement will benefit small and medium-sized tourism businesses in Nepal. Indian Mastercard users visiting various trekking routes and trails will now have the convenience of paying through QR codes. Rajbhandari emphasized that this will promote Nepal’s tourism sector on a global scale.

Mastercard is accepted in more than 130 countries worldwide, and a significant portion of foreign tourists to Nepal come from India. With this agreement, Mastercard users visiting Nepal will no longer need to carry cash.