UPI in Nepal: There is good news for Indian tourists visiting Nepal. They will no longer need to exchange currency in the neighboring country. The National Payments Corporation of India (NPCI) recently announced that the Unified Payment Interface (UPI) is now available in Nepal. An official statement confirmed that UPI users can make payments to Nepali merchants by scanning QR codes.
According to the news agency PTI, in September of last year, an agreement was signed between NPCI International Payments (NIPL) and Nepal’s largest payment network, Fonepay Payment Service. This agreement has enabled UPI payments in Nepal.
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UPI in Nepal: Make payments to merchants included in the Fonepay network
UPI in Nepal: The statement further elaborated that in the initial phase, Indian users can make fast, secure, and convenient UPI payments at various merchant shops in Nepal using UPI-enabled apps. Merchants within the Fonepay network can accept UPI payments from Indian customers. Ritesh Shukla, Chief Executive of NIPL, stated, ‘This initiative not only demonstrates our commitment to innovate in the digital payments sector but also our dedication to creating new avenues for trade and strengthening relations between the two countries.’
This development is expected to enhance economic relations, commerce, and tourism between the two countries. Fonepay Chief Executive Divas Kumar expressed confidence, saying, ‘I am confident that this cross-border payment solution will significantly improve economic relations, commerce, and tourism between the two countries.’
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