Abhishek012
TF Pioneer
UPI merchant transactions in Nepal surpass 100,000 mark:
Currently, UPI is accepted in several countries, including Bhutan, France (Eiffel Tower and Galeries Lafayette), Mauritius, Nepal, Singapore, Sri Lanka, and the UAE.
This achievement follows NIPL's collaboration with Fonepay, Nepal's largest payment network, to introduce cross-border UPI P2M acceptance in March 2024.
Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions in Nepal have surpassed the 100,000 mark, announced NPCI International Payments (NIPL), the global arm of the National Payments Corporation of India (NPCI).
This achievement follows NIPL’s collaboration with Fonepay, Nepal’s largest payment network, to introduce cross-border UPI P2M acceptance in March 2024. The milestone reflects growing digital payment connectivity between India and Nepal.
UPI, India’s popular mobile-based real-time payment system, facilitates instant personal and merchant payments. The system has simplified transactions for Indians travelling to Nepal and enables Nepali travellers to India to use UPI payments through the UPI One World app. This app allows visitors to make payments by scanning QR codes at merchant locations, enhancing their experience of India’s diverse culture and offerings.
NPCI International spokesperson, said, “We are happy with the positive feedback received since the introduction of UPI merchant acceptance in Nepal. This milestone is a testament to our commitment to simplifying cross-border transactions between the two nations and enabling new avenues for trade and commerce. Given that Indians constitute the largest number of visitors to Nepal, we expect continued growth in UPI transactions. Furthermore, we believe this initiative will contribute significantly to the economic development of both the countries.”
Currently, UPI is accepted in several countries, including Bhutan, France (Eiffel Tower and Galeries Lafayette), Mauritius, Nepal, Singapore, Sri Lanka, and the UAE. It is one of the world’s largest real-time payments platforms. According to a recent ACI Worldwide report, India accounted for 49% of global real-time payments in 2023.
Further, NIPL has partnered with Nepal SBI Bank Limited (NSBL) to launch RuPay cards in Nepal. RuPay, an Indian global card payment network, is widely accepted at ATMs, POS devices, and e-commerce sites.
Currently, UPI is accepted in several countries, including Bhutan, France (Eiffel Tower and Galeries Lafayette), Mauritius, Nepal, Singapore, Sri Lanka, and the UAE.
This achievement follows NIPL's collaboration with Fonepay, Nepal's largest payment network, to introduce cross-border UPI P2M acceptance in March 2024.
Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions in Nepal have surpassed the 100,000 mark, announced NPCI International Payments (NIPL), the global arm of the National Payments Corporation of India (NPCI).
This achievement follows NIPL’s collaboration with Fonepay, Nepal’s largest payment network, to introduce cross-border UPI P2M acceptance in March 2024. The milestone reflects growing digital payment connectivity between India and Nepal.
UPI, India’s popular mobile-based real-time payment system, facilitates instant personal and merchant payments. The system has simplified transactions for Indians travelling to Nepal and enables Nepali travellers to India to use UPI payments through the UPI One World app. This app allows visitors to make payments by scanning QR codes at merchant locations, enhancing their experience of India’s diverse culture and offerings.
NPCI International spokesperson, said, “We are happy with the positive feedback received since the introduction of UPI merchant acceptance in Nepal. This milestone is a testament to our commitment to simplifying cross-border transactions between the two nations and enabling new avenues for trade and commerce. Given that Indians constitute the largest number of visitors to Nepal, we expect continued growth in UPI transactions. Furthermore, we believe this initiative will contribute significantly to the economic development of both the countries.”
Currently, UPI is accepted in several countries, including Bhutan, France (Eiffel Tower and Galeries Lafayette), Mauritius, Nepal, Singapore, Sri Lanka, and the UAE. It is one of the world’s largest real-time payments platforms. According to a recent ACI Worldwide report, India accounted for 49% of global real-time payments in 2023.
Further, NIPL has partnered with Nepal SBI Bank Limited (NSBL) to launch RuPay cards in Nepal. RuPay, an Indian global card payment network, is widely accepted at ATMs, POS devices, and e-commerce sites.
