"Cross-Border UPI Transactions: Indian Consumers Can Now Make QR Code Payments in Nepal Starting March 8, 2024, Indians can initiate QR-code-based UPI transactions in Nepal, thanks to a collaboration between NPCI International Payments Ltd (NIPL) and Fonepay Payment Service Ltd. The partnership, announced through a press release, follows the agreement made at the Global Fintech Fest 2023 in India last September. With both NIPL and Fonepay now operational, individuals can seamlessly conduct person-to-merchant (P2M) UPI transactions between the two countries. Initially, Indian consumers can utilize UPI-enabled apps to make instant, secure payments at various businesses across Nepal affiliated with the Fonepay Network. The widespread acceptance of UPI internationally, as evidenced by its recent launch in France, underscores its growing popularity beyond Indian borders. This digital connectivity not only enhances bilateral relations between India and Nepal but also fosters greater convenience and efficiency in cross-border transactions for citizens of both nations. Ritesh Shukla, CEO of NIPL, expressed his enthusiasm for the collaboration, emphasizing its potential to drive financial inclusion and economic growth in the region. "We are excited to partner with Fonepay to introduce UPI payments in Nepal. This initiative reflects our dedication to advancing digital payments and strengthening ties between India and Nepal. We believe this collaboration will play a pivotal role in promoting financial inclusion and fostering economic prosperity," said Shukla."