The National Payments Corporation of India International Payments (NIPL) on Friday announced that Indians traveling to Nepal can now make Unified Payment Interface (UPI) payments to Nepalese merchants. The move has come following collaboration between the National Payments Corporation of India International Payments (NIPL) and Nepals largest payment network Fonepay Payment Service in September last year.In the first phase, UPI-enabled apps will allow Indian customers to make quick, safe, and easy UPI payments across a range of commercial stores in Nepal, according to the press release. It is believed that the action represents a revolutionary shift in cross-border transactions involving nationals of the two nations.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, 2024It is anticipated that the step not only reflects the dedication to creating new avenues for trade but will also strengthen the trade between the two nations.Notably, this milestone not only signifies a successful partnership between two payment system operators but also symbolizes a new era of digital connection between the two friendly nations.Here is the list of countries that officially support UPI payment:Sri Lanka, Mauritius, France, UAE, Singapore, Bhutan and Nepal.How does UPI workUnified Payment Interface (UPI) is a mobile-first payment system developed in India by the National Payments Corporation of India (NPCI) that helps in making or receiving payments by just scanning a QR code or phone number. The app can be used on BHIM, which is a first-party app but can also be accessible via third-party platforms, such as Google Pay, Amazon Pay, BharatPe and others in India. Unlike another mode of payment, there is no additional charge involved in UPI payments.
