Indian travellers visiting Nepal can now ditch the hassle of currency exchange and pay directly with their phones. Yep, you read that right – UPI is now working in Nepal, marking a significant stride in cross-border digital payments between the two neighbouring countries.
On Friday, the National Payments Corporation of India (NPCI) announced that the Unified Payments Interface (UPI) is now available in Nepal. The official statement stated that UPI users can scan QR codes to make payments to Nepalese merchants.
NPCI International Payments Ltd (NIPL) and @fonepay Payment Service Ltd, have announced that UPI is now live for cross-border transactions between India and Nepal. This partnership will enable Indian consumers to make instant, secure and convenient QR code based UPI payments at… pic.twitter.com/YWjHATzxkO
— NPCI (@NPCI_NPCI) March 8, 2024
This development comes after a collaboration between the National Payments Corporation of India International Payments (NIPL) and Nepal’s leading payment network, Fonepay.
In the initial phase, Indian tourists can use UPI-enabled apps to scan QR codes and make instant payments to merchants across Nepal.
NIPL CEO Ritesh Shukla praised the integration as a “revolutionary shift” that strengthens the digital payment landscape and fosters trade ties and cultural connections between India and Nepal.
This sentiment rings true, considering the frequent movement of people and goods between the two nations.
But this isn’t UPI’s first foray into international territory. Savvy travellers might already be using UPI in Singapore, Canada, Oman, Saudi Arabia, France, Sri Lanka and the United Arab Emirates. With Nepal joining the this elusive club, the vision of a borderless digital payment experience seems to be inching closer to reality.
