Indian UPI Users Can Now Pay Nepalese Merchants Via QR Codes; All You Need To Know

New Delhi: The National Payments Corporation of India (NPCI) on Friday made a significant announcement, revealing that unified payment interface (UPI) is now live in neighboring country Nepal. Through this development, users of UPI can conveniently scan QR codes to complete  transactions  with merchants in Nepal, as stated in an official statement.

This development follows a tie-up  established in September of the previous year between the National Payments Corporation of India International Payments (NIPL) and Nepal's leading payment network, Fonepay Payment Service. (Also Read: 2014 Levels Of Mobile Import Dependency Would Have Cost India Rs 14.3 Lakh Crore: ICEA Report)

The partnership will allow Indian customers to easily and securely conduct UPI transactions at different business stores in Nepal using UPI-enabled applications in its initial stage, the statement explained. It was specified that merchants who are part of the Fonepay Network can now receive UPI payments from Indian customers. (Also Read: Samsung Galaxy S23 FE Gets Massive Price Cut On Flipkart; Now Available At 47% Discount)

The integration was described as a s"revolutionary shift" in cross-border transactions between citizens of both countries. NIPL's CEO, Ritesh Shukla, emphasized that this initiative showcases their dedication to advancing digital payments and fostering trade opportunities. It also underscores their commitment to enhancing the relationship between India and Nepal.

"I am confident that this cross-border payment solution will significantly improve economic ties, commerce, and tourism between the two nations, eventually promoting economic prosperity and progress," Fonepay's chief executive Diwas Kumar stated.