India, Nepal Launch Cross-Border UPI Payment Transfers

New Delhi, Jun 11 (KNN) India and Nepal have launched a peer-to-peer (P2P) cross-border remittance mechanism, enabling real-time money transfers through the integration of India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI).

The system allows users in both countries to make secure and instant cross-border transfers directly through mobile banking applications and digital wallets. The linkage has been developed through collaboration between NPCI International Payments Limited (NIPL) and Nepal Clearing House Limited (NCHL).

The initiative is expected to strengthen financial connectivity between the two countries by facilitating faster and more accessible cross-border payments. It also supports greater digital integration and financial inclusion while simplifying transactions for individuals travelling, working, or conducting business across the border.

According to the participating institutions, the mechanism enables direct transfers without the need for traditional remittance channels and reduces dependence on physical cash for cross-border transactions.

With Nepal’s integration, UPI is now accepted across nine countries—Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka and Cambodia—allowing Indian users to make digital payments through familiar platforms while travelling abroad.

(KNN Bureau)