NPCI and Fonepay Collaborate for Cross-Border UPI Transactions between India and Nepal

NPCI International Payments Ltd (NIPL) has partnered with Nepal’s leading payment network, Fonepay Payment Service Ltd, to enable cross-border Unified Payment Interface (UPI) transactions between India and Nepal. This collaboration aims to enhance convenience and efficiency in transactions for tourists visiting Nepal from India.

Partnership Announcement

• NPCI International Payments Ltd (NIPL) and Fonepay Payment Service Ltd have officially launched UPI for cross-border transactions between India and Nepal.
• The initiative aims to facilitate QR-code-based person-to-merchant (P2M) UPI transactions, enhancing ease of payments for Indian tourists in Nepal.

Benefits for Indian Tourists

• With approximately 30% of Nepal’s tourists being Indian, this partnership is expected to significantly improve the payment experience for Indian travelers.
• UPI transactions will streamline financial interactions, benefiting both tourists and the Nepalese economy.

Operational Details

• Initially, Indian consumers will be able to make instant, secure, and convenient UPI payments at various businesses in Nepal using UPI-enabled apps.
• Merchants affiliated with the Fonepay Network can seamlessly accept UPI payments from Indian customers, fostering stronger economic ties between the two nations.