• Ntc
  • Ncell
  • Samsung
  • Apple
  • Xiaomi
  • 2G to 5G
  • Namaste Wifi
  • NTA
  • Best ISPs
  • About us
NepaliTelecom
Advertisement
  • Home
  • Telecom News
    • News
    • NTA
    • Ntc
    • Ncell
    • Smart Cell
    • Digital Nepal
  • Gadgets
  • How To
  • Editors’ Pick
  • Contact us
No Result
View All Result
NepaliTelecom
No Result
View All Result
Home Apps

Cross-Border Payment Between Nepal and India Commences

Dinesh by Dinesh
September 8, 2023
in Apps, Digital Nepal, News
0
cross-border payment nepal and india
Share on FacebookShare on Twitter

The revolutionary cross-border digital payment between Nepal and India has begun. The long-awaited electronic payment service came into being after an agreement between Nepal’s FonePay and India’s National Payments Corporation of India (NPCI). With this, users from both countries will be able to scan QR codes and pay on their smartphones thanks to the implementation of the Unified Payments Interface (UPI).

Users can use mobile banking apps and digital wallets to pay at merchants, restaurants, cinemas, hotels, departmental stores, etc. But this has become possible with years of planning and action. Earlier, Nileshman Singh Pradhan, Chief Executive Officer (CEO) of Nepal Clearing House Limited (NCHL), the operator of the government payment system on behalf of Nepal, and Ritesh Shukla, CEO of NPCI on behalf of India, had signed the agreement papers for this same initiative. Likewise, PM Pushpa Kamal Dahal “Prachanda” and his Indian counterpart Narendra Modi also substantiated developments during the former’s last visit to India.

Nepal Clearing House (Left) and National Payment Corporation of India (Right) exchanging agreement for the cross-border payment between the two countries 

Digital payments can be initiated in both countries through NCHL in Nepal and NPCI-affiliated banks financial institutions and payment platforms in India. Prior to this, only a card payment facility was in place for the two neighboring South Asian countries.

Easier payment for citizens of both Nepal and India

The cross-border payment allows the citizens of both Nepal and India to make payments in each other’s country. Indian nationals can pay in Nepal using FonePay’s QR codes using eSewa, Khalti, or mobile banking app. For Nepalese, they will have to wait a bit longer. Nepal Rastra Bank is releasing a directive very soon. Only after this, Nepalese will also be able to pay digitally in India.

Likewise, popular Indian platforms like Paytm, PhonePe, Google Pay, etc. will allow transferring money to any bank or digital wallet in Nepal instantly. Indian users can pay with those apps or scan FonePay QR or other codes when they are in Nepal.

Cross border transactions Nepal India

There is also a transaction limit for Nepali citizens visiting India. They can withdraw up to Rs 15,000 a day and up to Rs 1 lakh a month from ATM. Although, for medical reasons, this restriction won’t apply.

What has been said?

Biswas Dhakal, chairman of FonePay and chairman of F1Soft Group said, “The launch of this cross-border payment system is an important step towards enhancing financial connectivity between Nepal and India using technology for the benefit of the citizens of both countries. I am confident that this initiative will contribute significantly to the development of trade, tourism, and economic relations between the two countries and ultimately promote prosperity and development.”

Chief Operation Officer (COO) Paras Kunwar said the QR codes which will facilitate cross-border payments are interoperable. He shared that to use FonePay QR for payment, Nepalese banks financial institutions, and mobile wallets must submit an application. After this, the PSO will grant approval enabling Nepali nationals to pay digitally in India.

Also read: Digital Wallets Can Merge as NRB Clears The Way for PSPs and PSOs

Another Milestone For the Digital Economy

The transaction interoperability between Nepali and Indian mobile payment platforms will be another milestone for a cashless economy. Implementation of UPI Nepal will greatly influence the digital economy and help realize the government’s Digital Nepal framework. A huge number of Nepali and Indian citizens frequent between the two countries for work, travel, and studies. The cross-border payment will add a new dynamic to the two country’s relationship as well as promote the digital economy.

Follow us on Facebook, Twitter, and Viber to get the latest news, and information about Nepal Telecom, Ncell, Smart Cell, ISPs, mobile apps, and phones in Nepal.

Latest Posts

  • Cross-Border Payment Between Nepal and India Commences
  • Nepal Telecom begins fiber internet in 4 hilly districts
  • All Highways will be connected with the mobile network, NTA forwards a plan
  • Oppo A38 Officially Launched With Helio G85 Chipset | Find Price & Specs
  • Classic Tech partners ZTE to improve its internet network
  • Ncell Users Can Now Contact Hello Sarkar For Free, Service Operational 24×7
  • “Dumb phones” make a comeback as people are sick of smartphones
Comments
Tags: Cross-Border Transactionsdigital paymentDigital Payment interoperabilityGateway Payments ServiceIndia Nepal UPINIPLNPCIP2P PaymentPaytmPrachandaUPIUPI Nepal
Previous Post

Nepal Telecom begins fiber internet in 4 hilly districts

Dinesh

Dinesh

I am an experienced tech writer covering news mostly on telecommunication, internet, latest tech & trends, and gadgets. Being a technophile, I am particularly fascinated by the evolution of mobile networks in Nepal from legacy networks to 4G and the prospects of the upcoming 5G, and the development from the dial-up connection to up to the 2 Gbps fiber broadband internet and their transformative impact in the country. Movie and fintech are my occasional niches.

Related Posts

Nokia 5310 Xpress music Nepal
News

“Dumb phones” make a comeback as people are sick of smartphones

September 4, 2023
Xiaomi
News

Xiaomi smartphone shipments fell by 15.8% while revenue also declined in Q2, 2023

September 3, 2023
xiaomi september mela
Gadgets Nepal

Xiaomi Brings “Sure-Shot September Mela” | Win Gifts on Purchase of Redmi Smartphones

September 2, 2023
Daraz Like New Buy used Secondhand phones in Nepal
Apps

Buy second-hand phones on “Daraz Like New” | Features, phones, and best deals

September 3, 2023
iPhone 14 Pro and iPhone 14 Pro Max Price in Nepal
Gadgets Nepal

iPhone 14 Pro Max is the most popular smartphone in first half of 2023!

September 1, 2023
Asia Cup Cricket 2023 Live TV watch Nepal India Pakistan Bangladesh Srilanka Afganishtan
ISP

WorldLink and Dish Home to screen Asia Cup 2023 cricket live for free

August 30, 2023

You may also read

Daraz Like New Buy used Secondhand phones in Nepal

Buy second-hand phones on “Daraz Like New” | Features, phones, and best deals

September 3, 2023
Asia Cup Cricket 2023 Live TV watch Nepal India Pakistan Bangladesh Srilanka Afganishtan

How to watch the Asia Cup 2023 live in Nepal? Also find fixtures with Nepali time, squad, venue, and more

August 31, 2023
Ntc FTTH

Nepal Telecom FTTH Fiber Internet: Price, Speed, Offer, Combo Packs

August 10, 2023
Ntc Namaste Wifi service with 4G LTE router

Namaste WiFi service launched with Ntc 4G router, Unlimited Internet Packages, & Voice

September 1, 2023
How to Recharge Ntc, Ncell, Smart Cell Balance Online?

How to identify Ntc Ncell Smart Cell Hello mobile numbers?

August 31, 2023
Ntc office

How to Activate/Subscribe International Roaming in Ntc?

August 16, 2023

© 2023 Nepalitelecom

No Result
View All Result
  • Home
  • Telco News
  • Gadgets Nepal
  • Nepal Telecom
  • Ncell
  • Digital Nepal
  • How To
  • Editors’ Pick

© 2023 Nepalitelecom