- By Aditya Pratap Singh
- Mon, 11 Mar 2024 12:30 PM (IST)
- Source:JND
UPI In Nepal: A unified Payment Interface (UPI) is now an essential tool for making online payments in India as millions of people are using it to make payments or fund transfers for all sorts of expenses. Gradually, with the help of the government, UPI is hoisting its flag in many foreign countries as well, which includes Sri Lanka, France, Maldives, UAE..etc.
Nepal is one of the countries where online payment can be done through UPI. Now, the National Payments Corporation of India (NPCI) has said that Indian users can make payments in Nepal through a Unified Payment Interface (UPI) using QR codes.
In September last year, an agreement was signed between NPCI International Payments Limited (NIPL) and Nepal's largest payment network Fonepay Payment Service. Under this, payment through UPI has started in the neighbouring country. following which, now UPI has started for cross-border transactions between India and Nepal.
In its statement, NPCI said that after the partnership, Indian users can use UPI-based apps like Paytm, PhonePay, Google Pay etc for online payment.
Ritesh Shukla, NIPL's Chief Executive Officer, said that this initiative will bring revolutionary changes in the digital payment segment and it will strengthen relations between the two countries.
UPI service in foreign countries
Like in Nepal, Indian UPI service is available in countries including Singapore, Canada, Oman, Saudi Arabia, France and the United Arab Emirates (UAE).
How does UPI work abroad?
To use UPI abroad, you will have to select UPI International and activate the international transaction of your bank. for this service, the bank may charge some forex for doing international payments. To make it possible, the National Payments Corporation of India (NPCI) ties up with one of the companies of that country.