UPI Goes International: Indians Can Pay Using UPI in Nepal

The Unified Payment Interface (UPI) is now operational in Nepal, according to a statement released by the National Payments Corporation of India (NPCI) on Friday, March 8.

Cross-Border UPI Transactions: Fonepay and NIPL Enable Seamless Payments

An agreement has been inked by Fonepay Payment Service and NPCI International Payments Ltd (NIPL) to facilitate cross-border payments between Nepal and India.

Both organizations are now fully functional to enable person-to-merchant (P2M) UPI transactions between the two nations using QR codes.

Through the use of UPI-enabled applications, Indian customers will be able to quickly, securely, and conveniently make UPI payments across a variety of commercial stores in Nepal during the initial phase of this relationship.

Indian consumers may easily accept UPI payments from merchants on the Fonepay Network, according to a statement from NPCI.

NIPL and Fonepay Partnership Signifies New Era of Digital Cooperation

India-Nepal relations will improve as a result of this internet connection. The statement went on to say that it also symbolizes a new age of digital communication and cooperation between the two friendly nations and a successful relationship between two payment system providers.

NIPL CEO Ritesh Shukla stated, "This initiative reflects our dedication to creating new avenues for trade, strengthening the bond between the two nations, as well as our commitment to innovating the digital payments space."

We see our collaboration serving as a spark for increased financial inclusion and regional economic growth.

"I am convinced that this cross-border payment solution will greatly improve economic ties, commerce, and tourism between the two nations, eventually promoting economic prosperity and progress," stated Diwas Kumar, CEO of Fonepay.

UPI Implemented in UAE, Canada, Bhutan, and More Nations

It is important to remember that the UAE, Canada, Bhutan, Nepal, Sri Lanka, and Mauritius have all implemented UPI in their own nations.

Prior to this, India had already inked Memoranda of understanding (MoUs) for the deployment of the UPI stack with almost thirty different nations worldwide, according to IT Minister Ashwini Vaishnaw.

A memorandum of understanding (MoU) was inked by NIPL and Eurobank, a Greek bank, last month in order to enable cross-border UPI payments to India.

In order to facilitate cross-border payments for customers of the two nations, UPI and Singapore's PayNow underwent cross-border linkage last year.