India’s UPI Payments in Nepal, becomes first country to do so
Nepal become the first country to adopt India’s UPI system, which will play a pivotal role in transforming the country’s digital economy, the National Payments Corporation of India (NPCI) said on Thursday.
NPCI International Payments Ltd (NIPL), the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) and Manam Infotech to provide the services in Nepal.
GPS is the authorised payment system operator in Nepal and Manam Infotech will deploy Unified Payments Interface (UPI) in that country.
Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalisation of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank,” NPCI said in a statement.
This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time.