Travelers heading to Nepal no longer need to worry about carrying cash, as they can now conveniently make payments using the Unified Payment Interface (UPI) system.
The National Payments Corporation of India (NPCI) has announced the activation of UPI in Nepal, allowing users to make seamless transactions by scanning QR codes.
UPI Expansion to Nepal
The initiative follows an agreement signed in September last year between NPCI International Payments (NIPL) and Nepal’s leading payment network, Fonepay Payment Service.
This agreement paved the way for the integration of UPI into Nepal’s payment ecosystem, enabling Indian customers to make payments to participating merchants through UPI.
Strengthening Bilateral Relations
Ritesh Shukla, CEO of NIPL, emphasized that this move underscores the commitment to innovation in digital payments and aims to foster new avenues for trade while strengthening ties between India and Nepal.
Fonepay CEO Divas Kumar expressed optimism that this collaboration will enhance economic relations, commerce, and tourism between the two nations.
UPI’s Global Reach
The integration of UPI into Nepal adds to its growing global presence. Previously, UPI was introduced at iconic landmarks like the Eiffel Tower in France and in countries such as the UAE and Sri Lanka.
This expansion not only facilitates seamless transactions for travelers but also boosts economic activities and tourism in these regions.
With UPI’s reach extending to multiple countries, including plans for activation in Mauritius and ongoing discussions for expansion into other regions, it’s poised to revolutionize digital payments on a global scale.
