UPI users can now make payments to Nepali merchants by scanning QR codes, an official statement said.
There is good news for people going from India to Nepal to visit or do business. Now they will not need to go to Nepal with Indian rupees. He will be able to make payments easily in Nepal also through his UPI. National Payments Corporation of India (NPCI) on Friday said that the Unified Payment Interface (UPI) will now work in neighboring country Nepal as well. UPI users can now make payments to Nepali merchants by scanning QR codes, an official statement said. In September last year, an agreement was signed between NPCI International Payments (NIPL) and Nepal’s largest payment network PhonePe Payment Service. Under this, payment through UPI has started in the neighboring country.
Will promote tourism and business
In its first phase, Indian consumers will be able to make fast, secure and convenient UPI payments at various merchant stores in Nepal using the UPI-enabled app, the statement said. Merchants included in the PhonePe network can take UPI payments from Indian customers. Ritesh Shukla, CEO, NIPL, said that this initiative not only reflects 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. PhonePe Chief Executive Officer Divas Kumar said that I am confident that this cross-border payment solution will significantly improve economic relations, commerce and tourism between the two countries.
Many countries are showing interest
Recently, Reserve Bank of India (RBI) Governor Shaktikanta Das had said that many other countries are showing interest in UPI (Unified Payment Interface). However, Das did not name the countries that have shown interest in the popular UPI. He said this while giving information about RuPay Card and Unified Payment Interface facility between India and Mauritius and UPI connectivity between India and Sri Lanka. With this facility, Indian travelers to Mauritius will be able to make payments through UPI at a merchant there. Similarly, travelers to Mauritius will also be able to make payments using the Mauritius Instant Payment System (IPS) app.
