16th May 2022, Kathmandu
Payment Nepal (Gateway Payment Service Pvt. Ltd, a Payment System Operator licensed by Nepal Rastra Bank) has partnered with Nabil Bank to enable acceptance of its mobile-based real-time payment system, Unified Payments Interface (UPI), in Nepal.
UPI is a real-time payment system established by the National Payments Corporation of India that enables inter-bank and cross-border transactions. This collaboration is projected to enable millions of Nepalese and Indians who cross borders each year to make smooth payments for health, education, and business services using UPI-based mobile applications in both countries’ shops and merchant outlets.
Only three months ago, Gateway Payment Services Pvt. Ltd. implemented this technique in Nepal. Simultaneously, the path has been cleared for the functioning of an integrated payment network between various banks and financial organizations in Nepal and India.
Now You Can Use India’s UPI Payments in Nepal
The partnership agreement was signed by Anil Keshari Shah, CEO of Nabil Bank, and Rajesh Prasad Manandhar, CEO of Gateway Payment Services.
This collaboration enables Nabil Bank’s mobile banking users in India to make secure and easy payments across merchant outlets. Merchants affiliated with Nabil UPI QR may also take payments from Indian visitors using UPI-based mobile apps like as PhonePay, Google Pay, and Paytm.