Fonepay and NIPL Launch Cross-Border QR Payments between Nepal and India
Kathmandu : Fonepay Payment Service Ltd., Nepal’s largest payment network, and NPCI International Payments Ltd. are now ready to launch the first cross-border QR payment between Nepal and India.
At the Global Fintech Fest 2023, a world-wide meeting of fintech visionaries, thought leaders, and innovators, this historic announcement took place.
The strategic partnership between the two companies will provide a considerable boost to the digital payments' ecosystem in both countries and will prove to be a major steppingstone for a wider reach in the international market.
Chairperson of Fonepay, Biswas Dhakal, said, "This remarkable launch marks a significant step towards enhancing financial connectivity between Nepal and India by leveraging technology for the benefit of citizens."
This partnership will help boost digital payments in both countries and make it easier for folks to send money across borders. Once they finish setting up the technology, their members can start using this service for payments.
Millions of people in both countries will be able to easily and securely make fast payments through QR codes at a variety of retailers thanks to this partnership between Fonepay and NIPL and a mobile application that has been approved by both organizations The partnership between NIPL and Fonepay will enable millions of citizens from both countries to conveniently and securely make fast payments through QR codes at a variety of retailers.
After finalizing technology integration, the two businesses will be able to offer the service to their issuing and acquiring members, allowing their customers and merchants to take advantage of it.
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