Nepal’s leading payment service provider (PSP) eSewa has launched a cross-border payment service that allows Nepali merchants as well as visiting Indian citizens to pay digitally on their smartphones in Nepal. This much-anticipated service has become possible after the digital wallet’s partnership with Fonepay and NPCI (National Payment Corporation of India). With this eSewa merchants in Nepal can conveniently receive the payment on their eSewa Acquired Fonepay QR. In the meantime, Indian nationals can pay in Nepal using PhonePe, Google Pay, and BHIM apps- two prominent digital wallets.
Earlier, it was announced that the ambitious and ground-breaking cross-border Nepal-India payment formally began. eSewa has now started providing the service for its Nepali merchants as well as visiting Indian nationals in Nepal in the first phase. Another leading digital payment service provider Khalti has also brought a QR payment service for Indian tourists.
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ESewa brings cross-border payment
The company finds the cross-border digital payment service a milestone beginning. It says that tourism is Nepali economy’s one of the strongest pillars. And Nepal is yet to make the most of the two large economies from North and South through strategic partnerships. However, the cross-border payment will enable incredible feasibility for Indians to pay online in Nepal simply on their smartphones.
Cross-border payment is now availble to 4.5 lakh eSewa merchants to receive payments from Indian visitors in Nepal
The service lets Nepali eSewa merchants as well as Indian visitors in Nepal reap the benefits of online payment. This also rids them of the hassle of carrying physical cash, and the concern of possible counterfeit Indian currency, or foreign exchange.
Similarly, this milestone initiative also brings lucrative benefits to over 4.5 lakh eSewa merchants across Nepal. Online payment facility for Indian visitors unlocks new avenues for them to grow their businesses. In all, it’s a win-win deal for all. The event will stay as a key benchmark for the digital economy of Nepal for years to come.
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How to enable cross-border payment in eSewa for merchants?
The cross-border payment service between Nepal and India is now available to eSewa’s small and medium enterprise (SME) merchants. The SMEs that are registered in the Fonepay QR network can avail of this service by default. However, if your subscription doesn’t involve international payment, then you need to contact eSewa to activate the service.
eSewa merchants can receive payments from Indian citizens with the existing Fonepay QR code while new customers
eSewa says that there is no need to replace the existing eSewa Acquired Fonepay QR Code for cross-border payments. That means merchants can use their existing QR codes to accept online payments from BHIM, Google Pay, and PhonePe digital wallets. Transactions will be subject to minimal charges for merchants after receiving payments from the Indian digital wallet apps.
How can Indian citizens pay online in Nepal using BHIM, Google Pay, and PhonePe apps?
Indian citizens only need to follow the steps below to pay in India with BHIM, Google Pay, and PhonePe:
- Launch PhonePe, Google Pay or BHIM apps
- Activate the UPI International Payments feature
- Scan the Fonepay QR Code at eSewa merchants.
Note: Indian users need to use the amount in NPR currency and proceed with a confirmation to pay. Upon successful transaction, the merchants shall receive the payment notification. Also, the service requires Indian users to be within Nepal’s borders and allow the devices to track their location. The company says that a minimal conversion fee might be charged for the cross-border payment.
It’s important to note that the cross-border payment facility is available for Indian citizens in Nepal only. Esewa says that the preparation is ongoing and soon enough the Nepali nationals will also be able to pay digitally in India. After this, Nepali citizens will also be able to pay seamlessly in India by scanning QR codes on their eSewa app.
The cross-border payment facility between Nepal and India is the latest monumental event after India allowing Nepali nationals to buy Indian SIM cards in India. This international payment service further strengthens the two’s already deeper ties. Also, these new economic relations bridge the holes present in the digital economy while also contributing to financial inclusion for both countries. Will this be personally beneficial to you as well? Do share your input on this initiative in our comment section below.
