NPCI International, Gateway Payment Service, and Manam Infotech Join Hands to Deploy UPI Solution in Nepal
Source: NPCI International
NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India has joined hands with Gateway Payments Service Pvt Ltd, authorized Payment System Operators in Nepal, and Manam Infotech Private Limited to deploy Unified Payments Interface(UPI) in Nepal for the larger Digital Public Good and to bolster interoperable real-time Person to person (P2P) and Merchant payment transactions (P2M) in Nepal. Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalization of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank.
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. It will also enable the way forward for real-time cross-border P2P remittances between Nepal and India.