NIPL or NPCI International Payments Limited, the international branch of NPCI has partnered with Gateway Payment Services (GPS) and Manan Infotech to provide UPI in Nepal. This will make Nepal the first region outside Indian territory to use our UPI system to transform its digital economy. As per the NPCI officials, this collaboration will play a pivotal role in driving the digitalization of payment transactions in Nepal.
How are GPS and Manan Infotech involved in India-Nepal’s UPI tie-up?
GPS is actually Nepal’s authorised payment operator, while Manan Infotech will lay a helping hand in deploying UPI in Nepal. This tie-up is aimed at serving the larger digital public good in our neighboring country and improving the interoperable Peer-to-Peer (P2P) and Peer-to-Merchant (P2M) transactions.
It is also in line with the objectives of Nepal Rastra Bank and the Nepal Government.
How will UPI in Nepal benefit the end consumers?
This partnership will enable consumers in Nepal to benefit from this open interoperable payments system to drive real-time payment transfers between consumers’ bank accounts and merchants.
It will also pave the way for the real-time cross border P2P remittances between India and Nepal.
Rajesh Prasad Manandhar, CEO – GPS has said that UPI has created a significant impact in India for its digital payment transformation. It is expected that the payment system will play a significant role in transforming Nepal’s digital payment ecosystem.
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