Banking news: Ma’am, welcome to Banking news. Could you briefly explain the recent MOU you signed and its impact on Nepal’s tourism industry?

Representative: Thank you. For Nepal’s tourism sector, this partnership is a significant step forward, especially in the digital age. Nepal’s tourism industry plays a vital role in the country’s economy, and now, with this collaboration with a major player like MasterCard, we are aligning with global trends towards a cashless society. This partnership is essential for boosting tourism, which is already seeing a revival.

As I mentioned earlier, Nepal is often perceived as solely a destination for trekking and mountaineering due to the strong association with Mount Everest. This limits the types of tourists who visit. We want to expand that perception by showcasing that Nepal offers much more beyond the mountains—luxury properties, spiritual and wellness destinations, and even as a wedding destination.

Banking news: How does MasterCard fit into this strategy?

Representative: MasterCard’s global reach and socio-economic clientele align perfectly with our goal to attract higher-spending tourists who will stay longer and explore more of Nepal. They’ve developed a comprehensive plan that includes market research on spending habits and preferences, which will help us tailor tourism packages. Their “Priceless Campaign,” promoting lifetime experiences in Nepal, fits well with our branding efforts. We’re excited to work closely with MasterCard as they bring invaluable data and marketing strategies.

Banking news: Can you elaborate on the digital payments aspect of this partnership?

Representative: Absolutely. We’re working with MocoNow to facilitate online payments, which is critical as we move towards a more digitized tourism economy. Their platform will help promote Nepal digitally, making it easier for tourists to plan and pay for their trips.

Banking news: What can Indian MasterCard users expect from this partnership?

Representative: India has always been one of our top tourism markets. We’ll develop packages tailored specifically for Indian tourists, focusing on their interests and preferences. For example, one successful campaign we had was around Nepal’s cooler weather, offering a respite from India’s heat. We plan to continue creating market-specific campaigns, ensuring that Indian MasterCard users have unique, tailored experiences.

Banking news: Finally, what message do you have for the millions of MasterCard users globally?

Representative: To all MasterCard users, Nepal offers some of the world’s most beautiful, once-in-a-lifetime experiences. The Nepal Tourism Board and the travel trade community are excited to welcome you. With fantastic packages and experiences being curated, we’re ready to showcase all that Nepal has to offer.