Nepalis to get QR payment access in India as cross-border system moves towards operationalisation – The Himalayan Times – Nepal’s No.1 English Daily Newspaper

KATHMANDU, JUNE 7

Nepal and India have announced the operationalisation of peer-to-peer (P2P) cross-border digital payment transactions, enabling individuals in the two countries to transfer money directly through linked payment systems.

The announcement was made during bilateral talks between Foreign Minister Shisir Khanal and India’s External Affairs Minister Dr S. Jaishankar in New Delhi on Saturday.

The new facility comes as Nepal and India continue to deepen digital financial connectivity. Indian citizens have already been able to make payments at Nepali businesses by scanning QR codes through India’s Unified Payments Interface (UPI). However, Nepali citizens travelling to India do not yet have access to the facilities. The latest arrangement extends cooperation to direct peer-to-peer transactions across the border for the citizens of both countries.

The payment system will operate under the memorandum of understanding signed in June 2023 between Nepal Clearing House Limited (NCHL) and the National Payments Corporation of India (NPCI).

During the meeting, the two ministers also reviewed progress on ongoing bilateral projects and cooperation initiatives and discussed ways to expedite their implementation.