UPI Merchant Transactions in Nepal Surpass 100,000 Mark

NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), has announced a significant achievement, surpassing 100,000 cross-border Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions in Nepal. This milestone marks a new chapter in digital payment connectivity between the neighboring countries.

The cross-border UPI acceptance in Nepal was launched in March 2024 through a collaboration between NIPL and Fonepay, Nepal’s largest payment network. UPI, India’s widely popular mobile-based real-time payment system, has revolutionized payments for both personal and merchant transactions, enabling seamless and instant payments.

The introduction of UPI in Nepal has greatly simplified transactions for Indian travelers, allowing them to make payments effortlessly. Likewise, Nepali travelers to India can now utilize UPI payments via the UPI One World app, which enables them to make payments at merchant locations by simply scanning QR codes. This innovation has made it easier for Nepali visitors to explore India’s diverse culture, cuisine, and experiences.

A spokesperson from NPCI International expressed satisfaction 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 countries,” the spokesperson said.

UPI, one of the largest real-time payment platforms globally, is currently accepted in several countries, including Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE. According to a recent ACI Worldwide report, 49% of the world’s real-time payments in 2023 were made in India.

In addition to UPI, NIPL has collaborated with Nepal SBI Bank Limited (NSBL) to operationalize RuPay cards in Nepal. RuPay, a global card payment network from India, offers wide acceptance at ATMs, POS devices, and e-commerce websites.

About NPCI International:
NPCI International Payments Limited (NIPL), incorporated on April 3, 2020, as a wholly owned subsidiary of NPCI, is dedicated to deploying NPCI’s successful real-time payment system—Unified Payments Interface (UPI)—and card scheme (RuPay) beyond India. NIPL offers technological assistance, consulting, and infrastructure to help other countries enhance their payment capabilities and meet the evolving needs of global businesses. Through technology and innovation, NIPL aims to transform payments across the globe.