NPCI to launch UPI in Nepal

Share Us

789
NPCI to launch UPI in Nepal
19 Feb 2022
6 min read

Podcast

News Synopsis

Unified Payments Interface (UPI) has established itself as one of the most popular payment methods in India in a very short time. Now yesterday, the National Payments Corporation of India (NPCI), announced that it is going to introduce UPI in Nepal. With this Nepal will become the first country outside India to have UPI as a payment method to facilitate digital transactions. NPCI International Payments Limited (NIPL) has partnered with Gateway Payments Service Pvt Ltd and  Manam Infotech Private Limited to deploy UPI in Nepal. Ritesh Shukla, CEO of NIPL said: "The partnership will enable consumers within Nepal to transact swiftly using state-of-the-art UPI platform and deliver a seamless user experience. We are confident that this initiative will stand as a testimony to NIPL's technological capabilities and vision of scaling our unique offerings globally”. This collaboration will promote interoperable real-time person-to-person (P2P), Person to the merchant (P2M), and potential cross-border P2P remittances between Nepal and India. Rajesh Prasad Manandhar, CEO of GPS said: "The same UPI service has created a significant positive impact in India in terms of the country's digital payment transformation. We expect UPI in Nepal would play a pivotal role in transforming the digital economy of the country and dreams of building a less-cash society”.

TWN Exclusive