Nepal first country outside India to adopt NPCI's flagship Unified Payments Interface

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.

In 2021, UPI enabled 39 Billion financial transactions amounting to commerce worth USD 940 Billion, which is equivalent to approximately 31% of India's GDP. UPI's real-time payment infrastructure will help catalyze the process of financial inclusion in Nepal and will also create more opportunities for businesses.

Ritesh Shukla, CEO of NIPL said, "We are delighted to join hands with GPS and Manam Infotech to facilitate the deployment of NPCI's flagship Unified Payments Interface in Nepal. At NIPL, we are committed to transforming payments by taking our robust payments solutions to global markets and collaborating with local payment system operators. We are excited about this partnership, which will enable consumers within Nepal transact swiftly using state-of-the-art UPI platform and deliver a seamless user experience. We are confident that this initiative will stand as a testimony to NIPL's technological capabilities and vision of scaling our unique offerings globally."