The largest payment network in Nepal, Fonepay, along with NPCI International Payments have launched its cross-border transaction services.

In its initial phase, the agreement allows Indians to use UPI-enabled apps to instantly make QR code-based payments across a variety of Fonepay shops in Nepal.

"This initiative not only signifies our commitment to innovating the digital payments space, but also reflects our dedication to creating new avenues for trade, strengthening the bond between the two nations," says Ritesh Shukla, CEO of NPCI International Payments.

Envisioning this partnership as a catalyst for fostering greater financial inclusion and economic prosperity in the region, we are thrilled to embark on this transformative journey together.

Since its launch in 2016, the UPI has played a pivotal role in India's endeavors to enhance financial inclusion through digital payments, managing in excess of 100 billion transactions to date.

In 2020, the overseas division was established with the goal of promoting both the RuPay card network and UPI outside of India. To expedite its worldwide expansion, the division also partnered with Google Pay earlier this year.