November 6: Chief Executive Officer of Nepal Investment Bank Limited (NIBL) Jyoti Prakash Pandey and Chairman of UnionPay International Co Ltd Cai Jianbo have announced to launch NIBL UnionPay Card products in the Nepali market soon.

Targeting its customers visiting China for business or leisure, NIBL has plans to launch debit, credit, pre-paid travel cards and QR codes. It is reported that NIBL UnionPayCardholders can easily withdraw cash with NIBL UnionPay Cards while these cards can also be used for shopping, payments at hotels, restaurants etc in Nepal, China and worldwide, NIBL said in a statement.

NIBL’s CEO Pandey informed that the NIBL-UnionPay International collaboration was initiated focusing on the government’s upcoming - Visit Nepal Year 2020 campaign.

According to the statistics of Nepal Tourism Board, 153,633 Chinese tourists visited Nepal in 2018. Meanwhile, 300,000 Chinese tourists are expected to visit Nepal during Visit Nepal Year 2020.

UnionPay International, which was established in 2012 in Shanghai, China, has been offering its services in 177 countries all around the world.